HKScan Corporation, Stock Exchange Release, 11 April 2019, 10:00 (EEST)
CEO Tero Hemmilä’s review at HKScan’s Annual General Meeting
HKScan’s Annual General Meeting is being held today, Thursday, 11 April 2019, at 10:00 in Turku, Finland. CEO Tero Hemmilä presents shareholders HKScan’s 2018 financial results and describes the company’s current status, measures for financial recovery and the ongoing strategy process.
Hemmilä notes that in 2019 HKScan will focus on balancing the company’s finances. In the centre of the work aiming to improve profitability are following: active and local management of the entire meat value chain, emphasis on local profit responsibility, customers at the core of our operations and restoring brand leadership in selected product categories.
As previously communicated, HKScan is currently renewing its strategy and redefining the related focus areas. Hemmilä says, that while the company is redefining its long-term targets, management is ensuring the implementation of short-term corrective measures.
“We consider the poultry and meal businesses to be the strategic development growth directions for HKScan’s business. In red meat we are pursuing a more proactive development approach than before, and we aim to maximise the potential that our sustainability work brings. We are openly examining also our role and share in the consumer’s diet. In addition to defining the growth directions, key strategic assessments are related to the company’s structure, within which framework we are also looking at positioning of different market areas as part of the Group’s business operations”, Hemmilä states.
HKScan’s strategy work will advance throughout spring and summer. The company’s first-quarter 2019 results will be published on 8 May 2019.
Tero Hemmilä’s presentation is attached to this release and available at www.hkscan.com.
CEO of HKScan
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HKScan is a Nordic meat and meals company. We employ nearly 7 200 professionals in striving to serve the world´s most demanding consumers, maintaining quality throughout the full chain of operations, From Farm to Fork. HKScan produces, markets and sells high-quality, sustainably produced pork, beef, poultry and lamb products, as well as charcuterie and meals, with strong consumer brands, including HK®, Scan®, Rakvere®, Kariniemen®, Rose®, Pärsons® and Tallegg®. Our customers are the retail, food service,industrial and export sectors, and our home market comprises of Finland, Sweden, Denmark and the Baltics. We export to close to 50 countries. In 2018, HKScan had net sales of EUR 1.7 billion.