Global dairy giant, Yili Group has become Asia’s first dairy producer to post annual revenue exceeding Rmb 100 billion (US$15 billion).
In 2021, Yili recorded Rmb 110.6 billion (US$16.43 billion) in sales revenue, up 14.15% from a year ago, while net profit jumped 23% in the same period. Meanwhile, its latest 1st quarter 2022 sales revenue was Rmb 31.05 billion (US$4.62 billion), an impressive year-on-year increase of 13.5%.
Pan Gang, Chairman and President of Yili Group, mentioned that Yili will work at full capacity to ensure a sufficient supply of dairy products during the ongoing epidemic.
Meanwhile, Yili’s core products maintained strong momentum in 2021 due to the company’s investment in product innovation, product portfolio optimisation and channel expansion.
Its major liquid milk business generated revenue of Rmb 84.911 billion (US$12.62 billion), up 11.54% year on year, and continues to top the dairy market. Yili Pure Milk, Satine Pure Milk and the AMBPOMIAL Yoghurt Series set record annual sales of Rmb 20 billion (US$2.97 billion). Satine Organic Series continued to rank first in the organic milk segment in 2021. The ice cream sector generated Rmb 7.161 billion (US$1.063 billion) in revenue for Yili, up 16.28% year on year.
In 2021, the company’s milk powder and related businesses generated Rmb 16.209 billion (US$2.41 billion) in revenue, an increase of 25.8% year on year, showing strong growth momentum. In the high-potential cheese sector, Yili’s cheese business grew by more than 150% year on year.
Yili’s R&D expenditure also grew 23.4% to Rmb 601 million (US$89.3 million), a figure significantly higher than the industry average.
As it enjoys strong performance, Yili continues on its overseas expansion. In March 2022, Yili completed the formal acquisition of Ausnutria Dairy. Yili’s main products have now entered markets across 5 continents and more than 60 countries and regions, with revenue from its overseas business growing 8% annually. Strong examples of the company’s overseas achievements include its ice cream production base in Indonesia and the upgrading of the Westland factories in New Zealand.
