Hochwald anticipates an increase in sales for the entirety of 2022
Hochwald, a German dairy cooperative, announced that its sales in the financial year 2022 reached a milestone of €1.97 billion, marking the highest figure ever recorded in the company’s history.
The company attributed this growth to the impact of inflation, with the dairy industry experiencing a notable surge of nearly 20% in sales within Germany.
Detlef Latka, CEO of Hochwald, noted that sales achieved a record level during the year, particularly benefiting products such as powder or butter, especially in the first half of the year.
In addition to the sales achievement, Hochwald reported an EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of €127.4 million, indicating a significant increase of €19.3 million compared to the previous year.
Hochwald successfully implemented its ‘Hochwald 2020’ strategy, concluding the initiative in the previous year. In the first half of 2023, the company focused on revising the plan.
Thilo Pomykala, Chief Sales Officer (CSO) of Hochwald, acknowledged that in the past year, the company faced concerns regarding the price surge of consumer products as well as challenges in the business-to-business sector. Looking ahead, Hochwald recognizes that there are additional forthcoming challenges both at the national and international levels.
Hochwald plans to maintain its focus on expanding exports to third countries in the future. The company successfully bolstered its German business through strategic product innovations and the acquisition of the Tuffi brand.
Following Anton Streit’s departure from the position due to reaching the age limit, Georg Wilsmann was elected as the new chair of the supervisory board of Hochwald Milch eG. Streit had been a member of the board since 1992 and served as its chair since 2010.
Peter Manderfeld, CEO of Hochwald Milch eG, expressed his gratitude towards Anton Streit upon his departure, acknowledging him as a dedicated member of the cooperative who consistently played an instrumental role in shaping and supporting important decisions for the benefit of all members.
Manderfeld extended his thanks to Streit for his long-standing commitment throughout the years.