On August 25th, 2021, Rabobank of the Netherlands released its annual Global Dairy Top 20 Report. Dairy giant Yili Group once again clinched the fifth spot following the previous year, remaining leader of Asia for the eighth consecutive year as the only Asian dairy company among the Top 5.
Strong financial performance despite Covid-19
With the Covid-19 pandemic still raging across the world, Yili has demonstrated great resilience and strong competence with a complete industrial chain within its control. The company reported a total revenue of RMB 96.886 billion in 2020, making it one of the few dairy companies that achieved high growth amid a global economic downturn. Report of Q1 FY2021 showed a record performance, with a total revenue of RMB 27.363 billion, representing a YoY increase of 32.49%. Yili expects to conquer the RMB 100 billion mark in annual revenue this year.
The strong performance is the result of Yili’s fast and effective responses to market changes and heightened attention to supply chain, new product launches and e-commerce channels. Yili continued to roll out industrial cluster projects, promoting the digitalization and intelligent transformation of the whole industrial chain. In addition, the company continued to bring forth new products and actively promoted new retail models such as membership promotions, community marketing and O2O home delivery through strengthened cooperation with e-commerce platforms.
Going global with high-quality products
Striving for higher quality has become a key focal point for dairy companies. For this purpose, Yili set up a quality management system involving “all employees, a holistic process and all aspects” and established a three-layer system covering the headquarters, business units and factories to monitor food safety risks. Unremitting pursuit of quality has helped Yili secure high level of consumer preference, evidenced by its being named by Brand Finance as one of the world’s most valuable dairy brands in 2021.
Yili is also committed to gathering high-quality resources and partnerships from around the globe. It has built two production facilities in New Zealand, the Oceania Production Base and Westland Dairy Company Limited. In addition, Yili has set up its European Innovation Center and Oceania Innovation Center to empower the R&D of new products.
Relying on its production bases in China, Oceania, Southeast Asia and other places, Yili is steadily expanding its overseas business. Multiple best-selling products, including AMBPOMIAL Yoghurt, Joyday Ice Cream, Yili Youngfun and Westgold Butter, have been launched in 21 countries and regions.
Rabobank’s 2021 report also highlights increased consumers awareness of environmental challenges in the context of the pandemic, noting that “consumer sentiments are being heard, and many companies included in the Global Dairy Top 20 have made sustainability commitments.”
Yili first began its comprehensive carbon emissions auditing back in 2010. Through over a decade of efforts, Yili has reduced its emissions by 6.51 million tons of CO2 equivalent, which is equivalent to saving 10.7 billion kilowatt hours of electricity.
Issued annually, Rabobank’s Global Diary Top 20 Report has been recognized as one of the most authoritative rankings of the dairy industry, putting industrials leaders in the spotlight based upon their sales data and financial statements.[pro_ad_display_adzone id="915575"]