French cheese producer Bel saw its turnover rise 2.6 % in 2024 as it managed to grow considerably in the United States. Its profits, on the other hand, are under pressure from investments – including in plant-based products.
Investments in US
The producer of Babybel, Boursin and La Vache qui rit raised its turnover to 3.74 billion euros in 2024, thanks to its international expansion, particularly in the American market. Sales volumes also increased in the main markets, a turnaround after years of price increases.
Despite the turnover growth, profitability remained under pressure due to significant investments in production capacity and digitisation, particularly in the United States. Bel’s operating result fell 16.3 % to 178 million euros, while the group’s net profit fell 23.4 % to 53 million euros.
… and in plant-based
Bel sees the profit drop as temporary and expects that the investments will lay the foundation for further growth, both in the US and in emerging markets such as India and China. However, the group warns of a persistently volatile economic environment in 2025. The company is focusing on productivity improvements and does not rule out price increases, but remains optimistic about its long-term strategy.
In an interview with RetailDetail, director Mohamed Zariouhi of Bel Benelux recently confirmed that the manufacturer wants to generate half of its turnover from plant-based products. A new step in that ambition is the launch of Boursin Plant-based in Europe and North America.
