Barry Callebaut Outperforms Global Chocolate Market
Barry Callebaut, the world’s leading manufacturer of cocoa and chocolate products, has again outpaced the global chocolate market with an increase in sales volume of 7.2% to 1,296,438 tonnes in the last fiscal year 2010/11 ended August 31, 2011. All Regions and Product Groups contributed to this growth.
The weakening of various currencies against the Swiss franc – Barry Callebaut’s reporting currency – negatively impacted both sales revenue and operating profit (EBIT). In local currencies, sales revenue rose strongly by 13.3% (+0.7% in Swiss francs) to SFr4.55 billion (Eur3.7 billion), driven by the volume increase and by higher raw material prices. Operating profit (EBIT) went up significantly by 15.3% in local currencies (+5.7% in Swiss francs) to SFr360.6 million.
Juergen Steinemann, chief executive of Barry Callebaut.
Net profit for the year from continuing operations rose by 19.8% in local currencies (+9.0% in Swiss francs) to SFr258.9 million, benefiting from the higher operating result in combination with lower income tax expenses. Net profit for the year including discontinued operations amounted to Sfr176.8 million, compared to SFr251.7 million in prior year. The reduction is attributable to the non-recurring loss of SFr82.1 million for the discontinuation of the European Consumer Products business.
Food Manufacturers Products showed good growth driven by higher demand for specialties products and fillings. Emerging markets performed at double-digit growth rates. The Gourmet business achieved strong growth, especially in Asia-Pacific andEurope. All Gourmet segments contributed to the growth. The global Gourmet brands Cacao Barry and Callebaut performed well above market growth. Global Sourcing & Cocoa significantly increased its volume, driven by the strong demand for cocoa powder as well as sales of cocoa products to strategic customers.
Juergen Steinemann, chief executive of Barry Callebaut, comments: “We saw another year where we delivered on our targets. We again outperformed the global chocolate market, both with our Food Manufacturing Products and our Gourmet business. This is a particularly great result in light of the recent crisis inCote d’Ivoire. With the sale of our European Consumer Products business we confirmed our strategy. I am proud of our performance in the emerging markets and the fact that we were able to also sign four new strategic partnership agreements. This proved once again the attractiveness of our business model.”
