2021 Annual report
A year of delivery and diversification
Hilton food group plc, the leading specialist international food packing business, announces its results for the 52 weeks to 2 January 2022.
Our response during the year demonstrates our ability to thrive in the face of tough challenges.”
In our results for the 52 weeks to 2 January 2022, it's clear that we have delivered another strong financial performance with volumes and revenue both growing, maintaining a trend of continuous volume growth every year since Hilton’s flotation in 2007.
We grew adjusted operating profit by 12.7%, in line with the 11% compound annual growth rate we have delivered in our fourteen years as a listed business.
These results reflect an outstanding team effort as well as the power of our business model, which is rooted in the partnerships we have built with customers across Europe and Asia-Pacific.
We have also made strategic progress in diversifying the business. Last year, we set ourselves the goal of becoming the protein partner of choice. Put simply, we want to offer all the proteins people want to put on their plates, in home and out of home, not just in Europe and Asia, but across North America too.
To reach that goal, we have been transforming our business to expand into new protein products and categories, to enter new international markets, to deepen our technology and engineering capabilities, and to expand our sustainability commitments across all protein categories.
The acquisitions we have made over the past year will accelerate this. Following the completion of the purchase of Foppen within the past month, we are well set to grow further and enter the high growth smoked salmon market. We already now generate more than two thirds of our revenue, and three quarters of our volume, outside the UK, and this breadth means the business is increasingly well placed to create long-term sustainable value, in spite of short-term challenges or market headwinds.
While those headwinds persist, our model positions us well to provide nutritious, affordable and increasingly sustainable protein at scale, fulfilling changing consumer demands.