The Group nevertheless confirmed its ability to support and develop its strong brands to grow market share and win new markets, while consolidating its operating margin. Helped by a generally favorable foreign exchange impact and bottom-of-the-cycle raw material prices throughout much of the year, operating income advanced 9.5% in 2016.
Key figures
In 2016, the Bel Group recorded a slight decrease in sales. The Americas, Asia-Pacific region continued to grow, reporting organic sales growth of 4.5%. A price war among food retailers in Europe and France in particular directly impacted producer sales, with Bel’s sales in the region contracting 2.1% organically during the year. Lastly, volumes in the Middle East, Greater Africa were negatively affected by unrest in several markets in the region, where sales declined 2.3% organically in 2016.
Breakdown of 2016 sales
