2016 was a challenging year for the Tetra Laval Group. Net sales amounted to €13.8 Bn, a nominal decrease of 3.4 per cent compared to 2015. At comparable rates sales contracted by 1.4 per cent. The weakening of the Brazilian real, Mexican peso and Chinese yuan renminbi relative to the euro contributed to the lower sales. The main reason for the declining sales was that some of our larger markets didn’t develop as well as anticipated. Particularly sales of capital equipment were affected by lower demand, while technical service sales improved significantly or were stable in all industry groups. Operating profit improved both in absolute and relative terms despite the declining sales. This was the result of our cost-efficiency programs, which have been ongoing for some years in our industry groups. Lower material costs also contributed to the improved result. When summarising 2016 I would like to thank all our dedicated personnel for their outstanding achievements during the year.
Read more in the Tetra Laval annual report 2016/2017 (pdf)