Tonnies reports a 3% drop in sales for 2020
Tonnies reported the financial results for 2020 and the value of sales was € 7.05 billion, 3% down from 2019. The drop in value is mainly attributed to the price of pigs (on average 9.3% lower than in 2019) and the closure of the Rheda production plant for four weeks due to a COVID-19 outbreak.
Still, the company highlights that the group developed steadily in 2020 despite the restrictions caused by the crown. After a solid first half, the balance sheet for the second half of the year was, as expected, weaker, although it is highlighted that the company can look back positively at the year as a whole. "The crown year 2020 was the greatest challenge in the history of our company and its employees. While at the start of the pandemic in the first half of the year, politicians asked us to produce more and fill supermarket shelves, the four-week closure of the Rheda plant and subsequent production cuts due to the outbreak, which the employers' liability insurance association now classifies as an industrial accident, negatively affected the balance sheet of that plant", commented Clemens Tonnies, Managing Partner of the company.
According to him, 28 production sites of the 29 owned the company around the world had a decent year, despite the problems raised by the coronavirus crisis. In total, Tönnies processed 16.3 million pigs (-2%) at its German plants, and the decrease was exclusively related to the closure of Rheda-Wiedenbrück. The company grew strongly in its other locations, particularly overseas. 4.5 million pigs were processed in Denmark, Spain, Great Britain and Poland (+ 17%), says the report issued by the German meat giant.
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