Angel Yeast reports strong revenue growth for H1, boosted by Bakery and Savory segments
04 Aug 2021 --- China-based yeast and yeast derivatives giant Angel Yeast has surpassed its revenue targets for H1, the period from January 1 to June 30, 2021. Notably, the biotech company reports that revenue increased 20.6 percent year-on-year to RMB 5.234 billion (US$810 million).
“Angel Yeast’s performance in H1 remained strong despite the lingering effects of the COVID-19 pandemic and the challenge of increasing costs,” says Xiao Minghua, general manager of Angel Yeast.
“We are confident that the strong momentum recorded in the first half of 2021 will continue throughout the rest of the year, supporting the growth trend across all our business units.”
In other highlights, net profit attributable to shareholders of listed companies rose by 15.14 percent year-on-year to RMB 828 million (US$128 million). Meanwhile, earnings per share reached 0.9939 yuan, representing 13.93 percent year-on-year growth.
OEM and trade also achieved an “outstanding growth rate” of 40 percent during the first half of this year.
Savory is a key area for the yeast and yeast derivatives company.Growing segments
Robust growth was attributed in particular to segments such as Baking, Yeast Extract-Savory and Microbial Nutrition segments. The output of fermentation products was 12 percent higher than the same period last year.
As in Europe and North America, Angel Yeast witnessed a heightened demand for bakery ingredients during COVID-19. Boost in Microbial Nutrition, which offers products like nutrient-enriched yeast extract, could be linked to the continual growth in plant-based diets.
Consumers are increasingly demanding more nutritional value from meat substitutes, in addition to the savory flavors that yeast can provide.
Investing in bio-tech
In addition to Angel Yeast’s solid business performance, the company also made significant strides in pursuing technological innovation. In the first half of 2021, Angel Yeast filed for 21 patents, of which 12 were granted. The company also boasts that 95 percent of its products were developed in-house.
Angel Yeast has also established an R&D institute and platform led by industry experts and scientists. It has formulated industry benchmarks and standards for yeast products and sustainable factory production of yeast.
Most recently, its new facility in Yichang City, Hubei Province in central China opened to support the technological advancement of the biotechnology industry.
With its focus on biotechnology, Angel Yeast has set up 12 factories worldwide and has expanded its global presence to more than 150 countries and regions.
Angel Yeast has developed 95 percent of its products in-house.New technologies
2021 marks another milestone in the company’s long-term effort of digitizing its business operations.
During the reporting period, Angel optimized its marketing and sales channels with digital tools, strengthened its cybersecurity, as well as promoted smart manufacturing by adopting a manufacturing execution system and setting up an industrial database.
The company’s technology investments support its continued growth. This April, Angel Yeast said it was “on track” to establish a wholly owned subsidiary in Singapore.
Angel Yeast reports it is the third-largest yeast company in the world and tops the market share in 15 countries.
Health ingredients rise
Angel Yeast’s business unit Nutritech is also innovating, as wellness ingredients saw increased demand during COVID-19.
It is currently using its fermentation expertise to enhance the bioavailability of health ingredients, such as ginseng powder.
In May, the Nutritech unit also launched probiotics that leverage strains from Chr. Hansen to support babies who suffer from allergies.
By Missy Green
