Bel Group achieved a 1.5% increase in turnover in 2020. Consolidated turnover was €3.45bn (+ 2.8%). Excluding the effects of inflation, Bel achieved a plus of 3.2 per cent. Exchange rate fluctuations had a negative impact of 1.7 percent or €58.7m in the reporting year. The company attributes the increase in revenue mainly to the dynamic development of the core brands. Boursin, Kiri, Leerdammer and GoGo SqueeZ in particular drove the development in all relevant markets.
A decline in North Africa and the Middle East was offset by strong growth in the North American and European markets. Sales in Europe increased by 1.9%, driven by business in France, the UK and Benelux. In the German-speaking region, production was impacted by a Corona outbreak at a Dutch plant, with sales down 3% to €320m.