Dedicated Analytical Solutions
FOSS

16-03-2016

FOSS achieves record growth with revenue of 269 million EUR

With a growth of 17% and a turnover of 269 million EUR in 2015, FOSS achieved the best sales results ever. The result is due to a number of clients in particular in Europe, the US and China, who have invested in more efficient food production using FOSS’ analytical solutions. FOSS changes CEO in 2016 as previously announced.

FOSS provides advanced analytical solutions to the world's 100 largest food producers. The competition within the food sector has generally increased, and we see a significantly increased focus on the global challenges; food security, scarcity of raw materials, animal welfare and the environmental impact. This means that the market FOSS operates on, in general has grown by 4-5%. Adjusted for currency fluctuations, FOSS had an organic growth of 12% and managed to increase its market share.

- "Achieving a result of 269 million EUR revenue is very satisfying. Every year we invest more than 10% of the revenue in innovation and product development, and this is without doubt the reason why we have gained market share in a tough market ", says CEO Torben Ladegaard.

The improvement in 2015 is seen across the Group. The FOSS Group has had significant growth in most markets and especially in North America, China and Europe we see a very satisfying growth. 

- "I am very pleased to see the good results in North America, Europe and China for 2015. In particular, it is good to see that Europe contributes significantly to the positive development. In 2014 in China, we saw a significantly changed purchasing pattern where they are now back on track. The rapidly growing middle class contributes to continued and increased focus on quality food in China ", says CEO Torben Ladegaard.

The year's operating profit increased 21% to a total of 51 MEUR (42 MEUR in 2014), corresponding to an operating margin of 18.8% (18.3% in 2014).

New CEO takes over

After 5 years as CEO, and with record growth as a result, Torben Ladegaard has chosen to slow down. He leaves the steering wheel to Kim Vejlby Hansen who, with 14 years in FOSS including 5 years in the chair as COO, is well prepared to take over the position as CEO for FOSS.

- "I am happy to hand over a FOSS to Kim in really good shape. I have worked with Kim for 14 years, whereof the last 5 years have been in close partnership in the Corporate Management", says CEO Torben Ladegaard. Torben continues in FOSS as Senior Advisor for the Management.

Kim Vejlby Hansen has during the past year been in charge of developing a new FOSS Strategy, which has just been launched. Food safety, and more effective utilisation of food resources, is still on the top of the agenda.

"I look forward to continuing our work in FOSS. We have a very strong global position, and it is my ambition that all traded food on the global market will meet an analytical solution from FOSS at some point. We are almost there with milk and grain. And the potential is huge in many other areas. If we are to succeed, it requires three things: That we strengthen our dialogue with our customers; that we continue to invest heavily in innovation, and that we strengthen our sales and service", says the new CEO, Kim Vejlby Hansen.

Kim Vejlby Hansen starts as CEO for FOSS in connection with the Annual General Meeting 16 March.


About FOSS

FOSS is the world's leading provider of analytical instruments for the global food and agricultural sector, primarily in milk, grain, feed, meat and wine. 80% of all traded grain on the world market is analysed with a FOSS solution and 85% of the world's milk is tested by a FOSS solution. Our global customers represent some of the biggest players in the dairy, food and agriculture market and share challenges in areas such as food security, scarcity of raw materials, animal welfare, environmental degradation and overpopulation.

Our role is to develop and market analytical solutions that help our customers to maximise efficiency, improve quality and ensure the integrity of the food chain. FOSS is 100% family owned and was founded in 1956 by Nils Foss. FOSS had a turnover in 2015 of over 269 MEUR, and has more than 1400 employees working in development and manufacturing sites in Denmark and China and 28 sales and service companies worldwide. Learn more on www.foss.dk.

For more information please contact: Torben Ladegaard, phone number: +45 20 45 70 50 or Kim Vejlby Hansen, phone number: + 45 27 10 81 23.


Financial highlights for the FOSS Group (MEUR)

 

2015 (MEUR)

2014 (MEUR)

Income statement

 

 

Revenue

269,4

231,0

Operating profit (EBIT)

50,8

42,2

Profit for the year

34,4

29,0

Key numbers

 

 

Growth in revenue

16,7 %

-1,9 %

- Including organic growth

12,1 %

0,0 %

Operating margin

18,8 %

18,3 %

Export share 

98 %

98 %

Number of employees (average)

1.377

1.346

 

 

 

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