Frosta Reports Strong Growth and Increased Profits in 2024
Bremerhaven, Germany – Frosta, the leading German frozen food manufacturer, has announced a significant increase in profits for 2024, driven by strong growth in its own-brand products.
Financial Highlights:
- Net income (after taxes): €42.0 million, a 23% increase from €34.1 million in 2023
- Total group revenue: €638 million, approximately the same as €639 million in 2023
- Revenue from own-brand Frosta products: €331 million, a 13.5% increase
- Dividends per share: To be increased from €2.00 to €2.40, subject to shareholder approval on April 24, 2025
Growth Drivers:
The primary driver of Frosta’s success in 2024 was the strong performance of its own-brand products. This growth was fueled by consumer demand for high-quality, convenient, and sustainable frozen food options.
Expansion and Investment:
To meet the growing demand for its products, Frosta increased its headcount by 95 employees to 1,760 in 2024. The company plans to continue expanding its workforce in the future. Frosta operates three production facilities in Germany and one in Poland.
Sustainability and Innovation:
Sustainability is a key priority for Frosta, which aims to produce its products in an environmentally friendly and socially responsible manner. The company is committed to reducing its carbon footprint, promoting healthy eating habits, and supporting local communities.
Outlook for the Future:
Frosta is optimistic about its prospects for the future and expects continued growth in both its own-brand products and its overall business. The company is focusing on innovation, product development, and expanding its market reach.
Comments from Management:
Maik Busse, CEO of Frosta, said: "We are very pleased with our strong financial performance in 2024. The growth in our own-brand products is a testament to the quality and convenience that our customers have come to expect from Frosta. We are committed to building on this success and continuing to offer our consumers innovative and sustainable frozen food solutions."
Additional Highlights:
- Frosta is publicly traded on the Frankfurt Stock Exchange (ticker symbol: FRO).
- The company was founded in 1905 and has a long history of innovation in the frozen food industry.
- Frosta offers a wide range of frozen food products, including vegetables, fruits, fish, meat, and ready-to-eat meals.
- The company’s products are available in over 30 countries worldwide.
