date:Aug 30, 2023
usiness, which was divested in the first half of 2022).
This was primarily driven by a drop in volumes in Europe of 5.7% and a 4.0% decrease in international volumes.
During the first half of 2023, we continued to see inflationary pressure resulting in consumers moving toward discount channels and private label products and putting a pressure on our branded products, says Arla CFO Torben Dahl Nyholm.
In Europe, a few brands managed to maintain strong volume growth in an unpredictable market.