Press releases

Lenzburg, March 22, 2024 – The Hero Group, on a mission to delight consumers by conserving the goodness of nature, posted a strong operational performance in 2023 while strengthening the company via transformational measures.

The Group reported sales of CHF 1.22b with a 10.9% organic growth and a strong improvement in EBIT before exceptional transformation effects, up to CHF 57.8m from CHF 40.3m in prior year. The EBITDA increased from CHF 85.0m in 2022 to CHF 94.1m in 2023.

The solid performance comes in a year when the Group took decisive measures to further improve its supply chain footprint with the decisions to close factories in Lenzburg (Switzerland) and Götene (Sweden). In line with the strategy to further focus on its core categories, the Hero Group also sold its Gluten Free business in the Nordics. These strategic moves led to exceptional transformation one-off costs of CHF 34.5m in 2023.

Thanks to the strong operational performance, the Group absorbed the exceptional transformation effects and still posted a positive Net Income of CHF 11.0m

“We are overall pleased with our performance in 2023 where we were able to grow Net Sales, improve operational profit, and recover Gross Margin in a second year of significant inflationary pressure. Our strong brands and market positions allowed us to implement necessary prices increase while operational costs were kept under control. At the same time, we implemented important transformation steps which created exceptional costs in 2023, but will be beneficial to the Group in the coming years,” said Karsten Boyens, CFO Hero Group.

The results were made public in the Group’s Annual Report which is being published today. The report includes the financial and non-financial results of the Group for 2023.

All categories and regions contributed to the organic growth of the company. The Baby & Toddler Food category remains the largest at 39% sales share followed by Natural Spreads (20%) and Healthy Snacks (15%). The bulk of sales is in Europe (71%) followed by North America (16%) and Emerging Markets (13%).

In the non-financial section, progress is being made with respect to our Sustainability KPIs, our total carbon footprint dropping 14.4% compared to the previous year.

Hero Group CEO Rob Versloot said: “For a second year running, we have grown double digits, which shows that our long-term strategy is on the right track. We had to take tough decisions in 2023  but we are convinced that this transformation will bring Hero into an even stronger position in the future with a more resilient business model, higher growth potential, more efficient cost structures as well as elevated margins and profitability.”

The Hero Group Annual Report can be accessed here.

About Hero Group
The Hero Group is an international food company focused on branded nutritional food products. The company was founded in 1886 in Lenzburg, Switzerland, where its headquarters are still located today. Hero's main product categories of Baby & Toddler Food, Natural Spreads, and Healthy Snacks are complemented by its activities in Baby & Toddler Milk and Specialties. The Group, which lives by its mission to delight consumers by conserving the goodness of nature, boasts a global footprint and its portfolio consists of many well-known international and local brands. In 2023, the Group generated revenues of CHF 1.22 billion.

Media contact
Stephen Chetcuti
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