Strong chocolate sales for Barry Callebaut
Barry Callebaut has reported that its three-month sales (to the end of November 2017) grew by 8% compared to the same period the year prior. This news comes during a time in which the global chocolate confectionery market also grew by 3.1%.
The Swiss chocolate and cocoa manufacturer states that all the key growth drivers contributed to this market outperformance. The strong sales volume growth, which reached to over 532,000 tonnes during the three-month period, was fuelled by all regions and product groups.
Antoine de Saint-Affrique, CEO of the Barry Callebaut Group, remarks: “We had a strong start to the new fiscal year, with significantly above market growth. I am pleased to see that our increase in volume is broad-based, with positive contributions across all regions and good momentum amongst all key growth drivers.”
The European chocolate confectionery market volume grew by 3.6% in this timeframe, and Barry Callebaut’s sales volume in the EMEA region recorded double-digit volume growth of 10.3%, to over 248,000 tonnes.
However, overall sales revenue for Barry Callebaut amounted to CHF 1,872.2 million, which is a slight decline of -0.7% versus the prior year. This is mainly due to the impact of lower cocoa prices and other lower raw material prices, which – based on the company’s cost-plus model – are for the majority of its business passed on to customers.
Looking ahead, Saint-Affrique adds: “We have good visibility on our sales portfolio and expect the market recovery to continue. This, along with the diligent execution of our ‘smart growth’ strategy, gives us the confidence that we are on track to deliver on our 2018/19 mid-term guidance.”