Full speed ahead for Geia Food on the Scandinavian markets
Export is doing tremendously well for Geia Food A/S. On the Finnish market alone, the company has tripled its turnover. Turnover on the Norwegian market has doubled, and that cements Geia Food’s position as one of the largest solution providers in frozen and chilled food, groceries and beverages in Scandinavia.
Since establishing a subsidiary in Finland in February 2014, Geia Food has managed to triple its turnover there. The success on the Finnish market comes at a time when the turnover in the Norwegian market has doubled, and the solid numbers are consistent with the company’s strategy of being a solution provider in all the Scandinavian countries, explains CEO Claus Ravnsbo from Geia Food’s head office in Aalborg, Denmark.
“For the past three years, we have focused on expanding our international business. The Danish market remains our largest, but with the expected growth on the Finnish, Norwegian and Swedish markets, we will have a good balance and spread our business across several markets."
The opening of subsidiaries in Finland in 2014 and in Sweden in 2010 has brought Geia Food closer to their customers, which is in line with the company’s desire to be anchored locally, enabling them to focus their sales efforts and deliver promptly.
Despite the already positive export figures and the growth on the Scandinavian markets, Geia Food expects a further doubling of the turnover on the Finnish market over the next two years and on the Swedish market over the next three. There is enormous potential in the entire Scandinavian market, and Geia Food is determined to make the most of that, Claus Ravnsbo emphasizes.
"Geia is close to the market and the customers all over Scandinavia, and we know the local needs and preferences. We always aim to deliver solutions of the highest quality at the best prices, and the role of solution provider makes life easier for the retail chains. It is important for us to succeed in all of Scandinavia, and we are going directly for that. Not just for our own sake, but also for our suppliers’, as we are the point of entry to the entire region."
The recently published financial statement, which shows a turnover of nearly 988 million Danish kroner and a result after taxes of 15.8 million Danish kroner, is considered satisfactory by the board of directors. The results prove that with the establishment of subsidiaries and a strong position on the Danish market, Geia Food combines a local presence with healthy growth, increasing exports and excellent bottom-line numbers.