CO-RO News

12-06-2017 New innovation center for CO-RO CO-RO, the global provider of fruit-based soft drinks, is building a new headquarter and innovation center in Denmark designed by Henning Larsen Architects. The new building will be a gathering place for the international organization, knowledge, products, and innovation.

The global company CO-RO are adding a 4,000 m2 building to their existing Headquarters in Frederikssund, Denmark. Henning Larsen Architects was commissioned with realizing the company’s vision of a building with innovation at its heart.

“We are building an innovation center. I like to refer to it as a ‘powerhouse’, where innovation is brought to the center of the company – quite literally since everyone can look straight into our new innovation lab,” says Søren Holm Jensen, President, CO-RO.

“The new building will give us a state of the art workplace, easing close collaboration between e.g. Innovation and Marketing; speeding up product launches, and new market development in the years to come.” Søren finishes.

Attention to openness
The three-story building appears open and inviting. The workstations are organized with a focus on optimizing collaboration and interdisciplinary knowledge-sharing. Informal meeting spots are placed along the hallways and the desks. Thus, the building becomes a natural center of professional and social interaction.

“The vision is for CO-RO’s global innovation center to inspire creativity in the employees as well as guest researchers and customers every day. The building reflects quality and is optimized to inspire a dynamic workday in a healthy work environment,” says Architect and Partner in Henning Larsen Architects, Søren Øllgaard.

The main functions of the building are the R&D labs, which are placed in double-story rooms on the first floor. On the second floor where the marketing department is situated, the mezzanine offers a view over the lab. At the ground floor, the canteen is found as well as an open atrium which will also be used for e.g. product presentations. The spare squaremeters are flexibly organized for administrative purposes.

The building of the new Headquarters starts in summer 2017. Completion is due ultimo 2018.

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24-05-2017 CO-RO: Satisfying results for 2016 The financial statements for 2016 are ready. Last year the soft drink and juice manufacturer delivered the second-best result in the 75-year history of the company.

• A moderate decline in revenue (4%), compared to the record-setting year 2015.
• Profit after tax remains at a high level, 249 mDKK.
• Increase in equity (+15%), to a total of 1,947 mDKK

CO-RO group has presented another year with good results – not far from the record-setting year 2015.

President Søren Holm Jensen explains: ”With the results for 2016 we continue the positive development of our business – although with a small decline on both top- and bottom-line.  This is due to challenging market situations in the Middle East – but still the second-best result in our history.”

The decline in profits is due to increased investments in new markets and product development. Other markets such as China, South East Asia, Europe, and Africa has improved throughout, thereby contributing to the good result. In the Middle East, we gained market share in Saudi as well as other key markets, but our overall sales declined due to lack of access to war-stricken markets like Libya and an overall economic decline in the region.

Focusing on new markets
In 2015, CO-RO settled for a new strategy named “Shape for growth”. As of this, the group has increased heavily in developing new markets. Investments that are expected to contribute positively in the coming years.

One example of this is the stronger presence on the German market. Here the company started operations late 2015 offering home freeze ice lollies to German consumers. Consumers have responded well to the products and CO-RO now holds a second place on the market.

Another new and prosperous market opening in 2016 was Iran, a historic market for the group: “Iran is a very interesting market for us – and during the year we have made a grand market launch of our Sunquick brand and extended our Sun Top product range on the market” said Søren Holm Jensen.

Markets in both Asia and Africa developed positively, especially high growth rates were seen in China, Sri Lanka, and Senegal.

New products contributing to the results
“The focus on innovation set forth in 2015 are continued,” says Søren Holm Jensen. Throughout the year heavy investments have been made in innovation, product development, and production capacity.

An excited Søren Holm Jensen adds: “We have introduced many new products, one being Sun Top Berry Mix which is now sold in 20 markets – and helped us winning markets share on our core market, Saudi Arabia”.

At the edge of 2016 the well-known Sunquick concentrate was launched as a ready to drink fruit drink in Malaysia: “50 years ago we launched our famous fruit concentrate Sunquick – now; as a result of our strategy, we have developed this further – to unleash the full potential of our brands and offer them to consumers in new occasions and situations.”, says Søren Holm Jensen.

Sun Lolly, which is a very well-known brand on the home market, Denmark, had a good year in 2016. A highly successful launch of new fruit drinks in Denmark and entering new European markets meant an impressive growth in the volume of 30%.

”We expect that market situation will continue to be challenging in 2017, but CO-RO has a strong foundation to withstand these challenges. We have firm strategy, and a willingness to invest further to improve our position – and create new products”, Søren Holm Jensen finishes.

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25-04-2017 CO-RO strengthens its position in Sri Lanka CO-RO and long-term bottling partner in Sri Lanka, C W Mackie PLC have over the past 40 years built Sunquick to be clear market leader in the fruit concentrate market in Sri Lanka. The partners have now agreed to embark on an ambitious growth plan in Sri Lanka, including launching Sunquick as Ready-to-drink products in various formats.

To facilitate the growth plan, the parties have established a new company named Sunquick Lanka (Private) Limited, which will be responsible for bottling and marketing of Sunquick in Sri Lanka. The company will invest in significantly expanding the operation in the years to come, including the construction of a new factory for the Ready-to-drink products which will begin shortly.

In close partnership with C W Mackie PLC the company has refreshed and delighted the Sri Lankans for many years with the market leading Sunquick concentrate. Sri Lanka is an important market for CO-RO and expected to hold great potential as Søren Holm Jensen (President) explains: 

“We are convinced that there is a large potential in Sri Lanka. Our Sunquick brand is already a market leader in concentrates. We believe we can increase our turnover significantly over the coming years when we offer new products to customers and consumers.”

Today C W Mackie bottles Sunquick concentrate in Sri Lanka and distributes to more than 30,000 shops. With the new agreement, CO-RO will be directly involved in producing and launching Sunquick products in Sri Lanka:

“It is our ambition to secure that consumers in the countries where we operate, get the possibility to enjoy our products at more occasions – being at home or when dining out. With the establishment in Sri Lanka, we are pleased that we can secure that consumers get the joy of many new products we have in pipeline under the Sunquick brand”, says Søren Holm Jensen.

The new plant is expected to start production in 2018.

21-12-2016 New ready-to-drink format promises convenient goodness on-the-go in four refreshing flavours. CO-RO has launched the world’s first Sunquick Fruit Drink. Specially crafted to be enjoyed at home or on the go, these ready-to-drink packs provide greater convenience.

While CO-RO’s Sunquick brand is widely known for its glass-bottled, fruit-based concentrate, Sunquick Fruit Drink is a refreshing new take on this classic look, without compromising on the distinctive Sunquick taste that both children and grown-ups have come to know and love. Targeted at families, it is a thirst-quenching treat and a perfectly convenient solution for consumers who want to enjoy a delicious fruity refreshment whether at home or on the go. 

“Sunquick products have been enjoyed by families around the world for decades, and it is our ambition to expand the role of our brands in people’s lives, for instance by extending our product range so customers can enjoy the great taste of Sunquick in a variety of ways, according to their needs and occasion,” says Søren Holm Jensen, President and CEO of CO-RO.

“Sunquick is all about creating joyful moments with friends and family. Sunquick Fruit Drink is a convenient refreshment option that allows families to savour the goodness of our Sunquick flavours on-the-go, no matter where they are. We believe that this fruity and thirst-quenching treat will be a great draw for both kids and grown-ups alike!”  said Dato Seri Barkath Ali, CEO of Kumpulan Barkath.

As a first step, the new Sunquick Fruit Drink has been launched in Malaysia. A number of other countries in South-East Asia will follow in 2017. It is available in two child-friendly sizes – the 125ml pack, which is perfect for smaller children, and the popular 200ml drink pack. Each handy treat is sold in a convenient Tetra pack that is easy to handle, transport and dispose of, and includes a smart Z-straw to ensure minimum spillage. The new Sunquick Fruit Drink comes in four flavors: Orange, Mixed mango, Apple and Berries.

Like all Sunquick products distributed within the South-East Asia region, Sunquick Fruit Drink will be produced by our Malaysian company Barkath CO-RO.
 
About Sunquick 
Sunquick is the delicious fruit beverage manufactured by CO-RO A/S. Starting out as a fruit-based concentrate, the trusted brand is continuing to refresh and delight the taste buds of kids and grown-ups alike with its newly launched product range – ready-to-drink fruit packs that provide greater convenience and delicious goodness on-the-go. 

A refreshing drink for any occasion, Sunquick products are made with natural fruit juices, with every bottle and pack bursting with the perfect Sunquick taste. It does not contain artificial colours, flavourings, or sweeteners.

In Malaysia, Sunquick remains the leader in its category with more than 40% market share. 

For more information, visit www.sunquick.com.

15-09-2016 CO-RO donates Sun Lolly home-freeze ice lollies and drinks to marginalized people The warm late summer in Denmark becomes a little sweeter for marginalized people across the country. To avoid waste of food CO-RO has again this year donated its surplus stock of close to half a million of the company’s Sun Lolly home-freeze ice lollies and fruit drinks to the foodBank, who hands out surplus food to marginalized groups of people.

In Denmark most retailers set strict requirements to remaining shelf life of products, so even though the donated products do not expire until well into next year, CO-RO decid-ed to make the life of marginalized children and adults in Denmark a little sweeter by donating the products to the foodBank instead of destroying them.

“By doing so, we make sure that e.g. mothers and children at shelters, refugees in asy-lum centers and other needy groups of people will benefit from the home-freeze ice lollies and drinks that are popular especially among kids,” says Mette Klitvang Mehlsen, regional marketing manager, Europe.
 
The foodBank is the largest organization in Denmark fighting waste of food. They pri-marily supply fruit, vegetables and dairy products to marginalized people, and home-freeze ice lollies are a rarity. The lollies and drinks will be distributed to among other children’s homes, shelters for homeless people and women and their children, as well as asylum centers in the Copenhagen and Aarhus areas.


19-05-2016 CO-RO leverer rekordresultat i 2015

CO-RO Holding A/S har netop offentliggjort regnskab for 2015. Resultatet viser endnu et godt år for saft- og drikkevare koncernen.

Frederikssund, 19. maj 2016 – CO-RO Holding A/S har netop offentliggjort regnskab for 2015. Resultatet viser endnu et godt år for saft- og drikkevare koncernen:

• CO-RO leverede en nettoomsætning på DKK 1,953 mia., hvilket er en stigning på 17% sammenlignet med 2014.
• Resultat før skat blev DKK 326 mio. mod DKK 244 mio. i 2014, hvilket er en stigning på 34%.
• Egenkapitalen er i 2015 øget med 19% til DKK 1.453 mio.
• CO-RO skabte 110 nye arbejdspladser i 2015 og koncernen har nu over 1.100 medarbejdere globalt.

”Det har været et godt år, hvor vi for fjerde år i træk præsterede vækst i såvel omsætning som indtjening. Selvom væksten i høj grad er påvirket af gunstige valutakurser og råvarepriser, er det et resultat, vi er godt tilfredse med,” sagde administrerende direktør Søren Holm Jensen om sit først årsregnskab og fortsatte: ”Det har været fantastisk at overtage en forretning i god gænge. CO-RO er en solid virksomhed med dygtige medarbejdere, kvalitetsprodukter, stærke varemærker og ledende positioner i flere markeder rundt om i verden.”

Vækst i alle varemærker
Resultatet i 2015 er, udover gunstige valutakurser og råvarepriser, primært drevet af salgsvækst i hovedmarkederne i Mellemøsten, Kina og Sydøstasien. Ligeledes voksede salget af alle CO-RO’s internationale varemærker: Sunquick, Suntop, Sun Cola og Sun Lolly. 

Ny ledelse og strategi

”Vi har i 2015 gennemført et vellykket generationsskifte i ledelsen og udarbejdet en ny 2020 strategi kaldet ’Shape for growth’. I dag stammer en væsentlig del af vores omsætning og indtjening fra lande i Mellemøsten med høj geopolitisk uro og økonomisk usikkerhed. Det udgør en betydelig risiko for vores fremtidige vækst, hvorfor vi i de kommende år vil øge vores fokus på samt investeringer i innovation og nye markeder for at få en bredere portefølje af produkter og lande,” sagde Søren Holm Jensen.

Som en del af den nye strategi, har CO-RO i slutningen af 2015 etableret direkte repræsentation i Tyskland, Dubai og Iran for at være til stede lokalt og bedre kunne servicere markederne.

Vækststrategien understøttes også af flere projekter, der fra 2016/17 skal udvide produktionskapaciteten på både eksisterende fabrikker i Malaysia, Saudi-Arabien og Danmark og på fabrikker i nye markeder.

Fokus på innovation og produktlanceringer
”I 2015 startede vi en spændende innovationsrejse, hvor vi med etablering af en innovationsafdeling har sat produkt- og markedsudvikling øverst på dagsordenen. Afdelingen vil have særligt fokus på at sætte yderligere skub i udviklingen af nye produkter, emballager og teknologier, så forbrugerne kan nyde vores produkter på nye måder og i nye situationer,” sagde Søren Holm Jensen.

”Vi havde i 2015 nogle succesfulde produktintroduktioner – blandt andet lanceringen af Sunquick Gold i Asien og Sun Lolly Creamy i Danmark. Og efter en årrække er vi tilbage i Iran, hvor vi for godt et år siden startede produktion af Suntop. Men vi mener, vores varemærker har potentiale til mere, så vi kommer til at øge innovationsniveauet betydeligt i fremtiden,” sagde Søren Holm Jensen.

Om CO-RO

CO-RO er en af verdens førende leverandører af frugtbaserede læskedrikke, koncentrater og frys selv-is under varemærker som Sunquick, Suntop, Suncola, Sun Lolly og Sunjoy. Produkterne slukker tørst i mere end 80 lande. Virksomheden blev grundlagt i 1942 af Jep Petersen og har i dag godt 1.100 medarbejdere fordelt på produktionsfaciliteter i Danmark, Asien og Mellemøsten med hovedkontor i Frederikssund. CO-RO er ejet af CO-RO’s Fond.

21-03-2016 CO-RO lancerer Sun Lolly Drik Sun Lolly, den ikoniske trekant, er Danmarks mest solgte frys selv-is. Men nu lancerer CO-RO, der står bag Sun Lolly, en ny drik i praktiske, firkantede brikker. En forfriskning til at slukke den lille tørst hvor som helst og når som helst – hele året rundt. Ny form, nyt produkt, men med den velkendte Sun Lolly-smag af sol og søde sommerminder.

Frederikssundvirksomheden CO-RO A/S har siden 1979 forsynet danskerne med iskolde forfriskninger i form af frys selv-isen Sun Lolly. For mange børn – i alle aldre – er synet af de farverige trekanter i fryseren en klar forårs- og sommerbebuder, ligesom smagen er uløseligt forbundet med glade barndomsminder på lune dage. Sun Lolly er indbegrebet af sol og sommer. Indtil nu! Efter at have udvidet Sun Lolly frys selv-is-sortimentet med Sun Lolly Creamy sidste år og Brain Bites i 2014 lancerer CO-RO nu også Sun Lolly Drik.


Mere end en sæsonvare
”Ved at lancere nye produkter i kategorien frys selv-is og nu også Sun Lollys allerførste udvidelse i en ny varekategori ønsker vi at styrke brandet yderligere. Vi vil løbende tilbyde forbrugerne nye, spændende Sun Lolly-oplevelser. Is er et produkt med en begrænset sæson. Med udvidelsen til læskedrikkategorien vil forbrugerne også kunne nyde den velkendte Sun Lolly-smag uden for sæsonen. Og samtidig øger vi Sun Lolly-brandets tilstedeværelse til hele året,” udtaler Lars Folkmann, Executive Vice President for CO-RO.

Sun Lolly Drik lanceres i tre forskellige smagsvarianter: Vindrue, Hindbær og Cola. Det er nogle af brandets mest populære isvarianter, men samtidig skiller de tre sig også ud i læskedrikkategorien, der primært er domineret af mere traditionelle smage som eksempelvis appelsin.

Målgruppen er børn i alderen 5-10 år – og deres forældre – som det også er tilfældet med de klassiske Sun Lolly frys selv-is. Og de små 125 ml Sun Lolly Cola- og Frugtdrikke er ideelle til at tage med på familie-udflugt, til madpakken, i picnickurven eller strandtasken. Eller blot til en forfriskende pause derhjemme ligesom der allerede er tradition for med frys selv-isen. Præcis som Sun Lolly frys selv-isene indeholder de nye Sun Lolly Drikke hverken kunstige sødestoffer eller konserveringsmidler.

Ny lancering styrker Sun Lolly-brandet
Sun Lolly er et af danskejede CO-ROs stærke, globale brands, der også tæller Sunquick, Suntop, Suncola og Sunjoy. Hvert brand er etableret og stærkt i hver sin del af verden. Sun Lolly og Sunjoy især i Danmark og Nordeuropa, Sunquick primært i Asien samt Suntop og Suncola hovedsageligt i Mellemøsten.

”CO-RO er en FMCG-virksomhed, og vi har fokus på at styrke vores brands dér, hvor de allerede er etab-leret både i markedet og i forbrugernes bevidsthed. Således fokuserer vi i Danmark og i Nordeuropa på at styrke Sun Lolly-brandet. Ifølge vores egne markedsundersøgelse kunne 74 % af de adspurgte godt fore-stille sig en Sun Lolly Drik, og 78 % svarede, at de helt bestemt eller måske ville købe en Sun Lolly Drik. Derfor venter vi nu spændt på responsen fra danskerne på vores produktnyhed,” slutter Lars Folkmann.

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09-01-2015 The CO-RO Group based in Frederikssund appoints new President/CEO Soren Holm Jensen from Carlsberg is appointed as new President/CEO effective 1st of February 2015, replacing Ole Jorgensen who retires. Ole Jorgensen passes the reigns with honors delivering a record breaking CO-RO Group result for 2014, cementing CO-RO as one of Denmark’s most successful FMCG corporations, although more than 90% of the company’s revenue is generated outside of Denmark.


”The foundation owned CO-RO has in recent years had a very positive development and we have con-ducted a very thorough search process to find Ole Jorgensen’s successor.

Although more than 90% of our business is outside of Denmark it is in the CO-RO Foundations charter that CO-RO’s headquarter is based in Frederikssund, Denmark. We are proud that CO-RO has developed into a Group that can attract such strong a leader from Carlsberg”… says Chairman of the Board Michael Ring.

The possibility to sit at the head of the table in an international corporation has always been my ambition. It is not often such an opportunity presents itself so when it did I had to strike ... says Soren Holm Jensen.

The CO-RO Group is a well-run and successful corporation with many talented people, and I have great respect for the results Ole Jorgensen and his team have achieved. I hope that the competences and experience I have acquired during my long international FMCG career will contribute to CO-RO’s continued positive development... says Soren Holm Jensen.

With more than 40 years of employment in the CO-RO Group one must say that I've served my duty - and I feel very comfortable passing the reigns to Soren Holm Jensen, who has management experience from Asia and the Middle East, which is our core markets….says Ole Jorgensen.

The CO-RO Group delivers a record result of +200M DKK on the bottom line to the general assembly in May, where 2 new board members also will be nominated for election – Jens Harsaae and Thomas Lund, who both will contribute with their extensive knowledge within FMCG and Innovation.




30-07-2014 CO-RO FOOD A/S financial highlights of 2013 We are happy to announce the best financial results ever in the history of CO-RO FOOD A/S.  In a challenging market situation the company has been able to grow the Sunquick & Suntop business. “A profit after tax of DKK 137 million is a very satisfying result. We estimate that 2014 will be yet another good year” comments Ole Jørgensen, President.

•    Revenue of DKK 1.67 billion, up 2,6% relative to 2012.
•    Profit after tax of DKK 137 million (2012: DKK 106 million)
•    Profit margin (EBITA%) of 15 % (2012: 11,3%)
•    Equity ratio/solvency ratio unchanged at a level around 71 %
•    The number of full-time employees in average 2013 totalled 957 (average 2012: 938)

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