12.06.2006
Vaasan & Vaasan publishes Annual Report for 2005

The Vaasan & Vaasan Group has published its annual report for 2005. The report can be read electronically by clicking on this link. A printed copy of the report can be ordered by e-mail at the address vastaanotto@vaasan.com.

The operating environment of the Vaasan & Vaasan Group changed strongly as a result of the internationalisation, concentration and catenation of retail business, and also of the growth in market share of the major retailers’ own brands. This transitional stage of business could be seen in tightening price competition on the market. In spite of this, the development of the Vaasan & Vaasan Group continued steadily.

- In 2005 in Finland, we maintained our market-leading position in all our most important business areas. The main growth area was sales to the hotel, restaurant and catering sector. We are particularly happy that decision-makers in grocery retail chose Vaasan & Vaasan as their best supplier in an annual survey carried out by Taloustutkimus. In Estonia, we opened the largest bread production line in our history. The greatest growth in international operations came from Russia and Eastern Europe, says Managing Director Matti Lappalainen.

Towards the end of 2005 Vaasan & Vaasan initiated negotiations regarding the acquisition of the Swedish company Nordic Bake Off AB. The transaction was completed in February 2006, making Vaasan & Vaasan the second-largest supplier of bake-off products in the Nordic market.

For further information:
Vaasan & Vaasan Group
Matti Lappalainen
Managing Director
tel. +358 204 46 2001


Vaasan & Vaasan Group is the largest bakery business in Finland and the Baltic region, the second largest crisp bread producer in the world and the second largest producer of bake-off products in the Nordic countries.

Vaasan & Vaasan Group includes Vaasan & Vaasan Oy in Finland, AS Leibur in Estonia, A/S Hanzas Maiznicas in Latvia, UAB Vilniaus Duona in Lithuania and Nordic Bake Off AB in Sweden. The Group's turnover for 2005 was EUR 287 million, generated by approximately 3,400 employees.