June 26 2019

Annual report and financial statement 2018

Solid revenue growth, significant investment programme continues

June 2019 – Froneri, an international fast-growth ice-cream company, today announces its annual results for year ended 31 December 2018.

Results highlights:

  • Solid Group revenue growth up 3.6% to €2.6bn (2017: €2.5bn)
    • Global A Brands revenue up 17.9% driven by successful marketing and promotional investment
    • Private label revenue up 13.7% supported in part by hot summer weather in Q2 2018;
  • Significant investment in innovation and capability at €193.7m (2017: €105.4)
  • Optimised performance by introducing the latest technologies available in the international market with 12 new lines established
  • Successful leverage of international scale by launching A Brands into new markets
    • Mondelēz now available in 17 countries
    • Extrȇme roll-out to UK and Spain
  • Successful rejuvenation of well-loved local jewels, for example the relaunch of Mövenpick in Germany
  • Post-merger integration largely complete, ensuring consistent high-quality products and replicable processes



Commenting on the annual results, Froneri CEO Ibrahim Najafi said:

“Since our creation in 2016 we’ve worked hard to bring the Froneri family together into one winning team dedicated to producing consistently high-quality ice cream in all our markets. I’m immensely proud of our culture where we all understand what excellence looks like, and the significant progress we have made towards achieving our vision of building the world’s best ice cream company.

“In the last year we have been strengthening the fundamentals we have in place and we’ve been winning market share. Our employees are central to this success. Our ‘glocal’ approach empowers our people to make decisions centred around our values and culture. We have actively worked towards leveraging and applying best practice from each country – building deep ice cream knowledge to embed the Froneri Way of Working.”

The positive momentum has continued into 2019, with the launch of Nuii supported by international advertising campaigns, the further optimisation of the business and a number of significant strategic developments including the acquisition of New Zealand’s Tip Top.

“We have a very bright future ahead and continue at pace on our journey to become the world’s best ice cream company.” Concludes Mr Najafi.


About Froneri

Froneri is a fast-growth international business with a vision to build the world’s best ice cream company. A passionate challenger brand, we are building the market through a focus on ice cream, delivering value for retailers and consumers. Created in 2016 as a joint-venture between PAI Partners and Nestlé, we are the second largest manufacturer of ice cream in Europe, the third largest worldwide and the number one private label producer worldwide. We are present in more than 20 countries with revenues of €2.6bn (2018) and more than 10,000 employees worldwide. For more information visit: www.froneri.com


For further information please contact:

Instinctif Partners
Victoria Cross 
[email protected]
+44(0)1869 353 810

Floyd Jebson 
[email protected]
+44(0)1869 353 813


Froneri Limited has published its audited accounts for the period to 31 December 2018.

The accounts are available here.