About TINE

Subsidiaries

TINE has a number of wholly and partly owned subsidiaries both in Norway and elsewhere. Besides dairy operations, TINE’s other businesses primarily cover production of food products such as juice, ice cream and fresh ready meals.
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TINE’s aim is for more and more of its revenues to come from its dairy operations and sales of special cheeses in markets outside Norway. Given this fact, TINE subsidiaries in Sweden, Denmark, the UK and the US are actively working to turn this aim into reality.

Jarlsberg is currently TINE’s biggest export commodity. Around 60 per cent of the Jarlsberg® produced in Norway is sent for export. Jarlsberg® is also produced in the US and Ireland for sale on the international market. Other cheeses are also processed, refined and packed at TINE plants in the UK and Sweden.

Domestic dairy operations

OsteCompagniet AS (wholly-owned)

OsteCompagniet AS markets and sells speciality cheese products from TINE and a few small-scale producers along with cheeses from several European countries. Most of the Norwegian cheeses are produced at TINE dairies.

KEY EVENTS IN 2018

  • Selbu Blå is taking shares in the blue mould cheese segment and underwent strong growth. Norske Ostespesialiteter also underwent pleasing growth, with Chevre in particular seeing positive development. Snøfrisk has lost its listing for the light variants, but Snøfrisk original is maintaining its position in a declining cream cheese segment.
  • OsteCompagniet brought home 3 medals from the World Cheese Championships: silver for Fryd Brie Pepper and bronze for Pultost and Gamalost!
  • Michelangelo, which represents cheese varieties such as parmesan and mozzarella, has established itself firmly on the Norwegian market. Michelangelo is being purchased via the TINE subsidiary Wernersson Ost AB.
  • In 2018, OsteCompagniet achieved the best operating profit in its entire history.

Key figures, OsteCompagniet AS (NOK millions)

Figures in NOK millions   2018   2017  
Operating revenues   303   288  
Operating profit   13   7  
Number of employees  8   10  

Other activities

Diplom-Is AS (wholly-owned)

Diplom-Is AS and its subsidiaries Laguna Produkter AS, Isdalen AS and Kulinaris AS, our brand companies that produce and market ice cream, sweet snacks and frozen desserts.

KEY EVENTS IN 2018

  • The ice cream category underwent strong growth in 2018 as a consequence of good weather in summer, and this helped to bring about a stronger operating profit than in 2017.
  • The company, which is focusing on its growth strategy and aim of becoming a preferred turnkey supplier to its customers, launched and relaunched a number of products.

Key figures, Diplom-Is Group (NOK millions)

Figures in NOK millions   2018   2017  
Operating revenues   1.2   1.1  
Operating profit   97   26  
Number of employees   384   396  

Fjordland AS (partly owned)

Fjordland is made up of the companies Fjordland AS, Matvarehuset AS, Safari Næringsmidler AS and Hallheimslien 12 AS. Fjordland is a brand company that develops, markets and sells fresh ready meals, ready-to-eat snacks, margarines, yoghurts and desserts in the Norwegian market.

KEY EVENTS IN 2018

  • Fjordland AS saw solid growth in many of its product groups in 2018, particularly in Meals, Porridge and Ready-to-eat Porridge Lunches. This positive development in sales came about as a result of targeted focus on its core business, with a number of new product launches and increased market and activity pressure.
  • As a result of this growth, Fjordland’s operating profit improved in 2018 as well.
  • Further development of its subsidiaries continued in 2018, and the companies experienced good growth in respect of sales of meal solutions to municipal and private institutions and the catering and corporate market.
  • Fjordland purchased Hallheimslien 12 AS in 2018 as part of its efforts to secure predictable frameworks and further development opportunities for production for Matvarehuset AS.

Key figures, Fjordland Group (NOK millions)

Figures in NOK millions   2018   2017  
Operating revenues   1.8   1.7  
Operating profit   82   74  
Number of employees   188   184  

International dairy operations

Norseland Inc. (wholly-owned)

Norseland Inc. and its subsidiaries Alpine Dairy LLC and Lotito Foods LLC produce, refine, market and distribute speciality cheeses from TINE and other producers to the retail and catering market in the US.

KEY EVENTS IN 2018

  • Positive development for Jarlsberg® because of a range of marketing activities in shops and in the media.
  • Good development in the sale to Lotito Foods LLC, where we owned one-third of shares in 2018. Lotito Foods is made up of a number of companies, one of which packages all Jarlsberg® for the American market.

Key figures, Norseland Group (US) (NOK millions | USD millions)

Figures in NOK millions | USD millions   2018   2017  
Operating revenues   1.4   178   1.5   175  
Operating profit   19   2   13   2  
Number of employees   79     89    

Norseland Ltd. (wholly-owned)

Norseland Ltd. refines, markets and distributes speciality cheeses from TINE and Ilchester to the retail market in the UK.

KEY EVENTS IN 2018

  • Higher Cheddar prices have resulted in reduced margins, but price increases have helped to bring about satisfactory results.
  • Continuing focus on strengthening the position of Jarlsberg® through good marketing activities, and good volume growth over the course of the year.

Key figures, Norseland Group (UK) (NOK millions | GBP millions)

Figures in NOK millions | GBP millions   2018   2017  
Operating revenues   568   52   531   50  
Operating profit   13   1   16   2  
Number of employees   228     216    

Wernersson Ost AB (wholly-owned)

Wernersson Ost AB and its subsidiaries Färskvarugruppen AB and Wernersson Ost Danmark A/S refine, market and distribute a broad and international range of cheeses to the retail and catering market in the Nordic region.

KEY EVENTS IN 2018

  • An increase in cheese prices as a consequence of a weak Swedish krone have brought about pressure on margins throughout the year, but price increases in shops have maintained the result.
  • A growth plan for Jarlsberg® has resulted in very good volume development.

Key figures, Wernersson Group (NOK millions | SEK millions)

Figures in NOK millions | SEK millions   2018   2017  
Operating revenues   888   949   863   892  
Operating profit   16   17   11   11  
Number of employees   118     112