Barry Callebaut Group says its sales volume increased by 2.2%, reflecting above-market performance of the chocolate business (+7.6%) and intentional phase-out of less profitable contracts in cocoa products (-12%).
Its sales revenue of CHF 6.7 billion (US$6.91 billion) increased by 8.8% in local currencies (+7.0% in CHF).
Operating profit (EBIT) was temporarily affected by challenging cocoa products market as anticipated.
However, the Group has strong free cash flow of CHF 404.0 million.
“We will continue to focus on the further implementation of our ‘smart growth’ strategy,” says CEO CEO Antoine de Saint-Affrique.
“We have good visibility on volume growth and expect to see a positive contribution to profitability from our Cocoa Leadership project, supported by some recent recovery in the cocoa products market.”
“On this basis, we confirm our three-year guidance – on average 4-6% volume growth and EBIT growth in local currencies on average above volume growth.”
