Barry Callebaut reports strong organic sales growth

Barry Callebaut AG, the world’s leading manufacturer of high-quality cocoa and chocolate products, announced its key sales figures for the first three months of fiscal year 2006/07 ended November 30, 2006. Sales volumes for the Group went up to 316,506 tonnes, which corresponds to a strong organic growth of 5.7% (same prior-year period: 299,417 tonnes). Sales revenue grew by 3.6% to CHF 1,241.7 million (CHF 1,198.5 million).

Patrick De Maeseneire, CEO of Barry Callebaut, said: “We were able to carry the strong fourth quarter growth of the past fiscal year into the first quarter of the current fiscal year; seasonal Christmas business was again very good. Our new organizational structure introduced as of September 1, 2006 will allow us to drive the intended geographic expansion and growth outside of Western Europe with the necessary determination. We are satisfied with our results for the first three months of fiscal year 2006/07.”

In addition, Barry Callebaut reconfirmed the decision to repay the outstanding 9¼% High-Yield Bond due 2010 in the amount of EUR 165 million at the earliest call date, which is March 15, 2007. Starting as of the current fiscal year, Barry Callebaut is also bringing its disclosure of financial results in line with other major food companies. The company will publish only key sales figures for the first and the third quarter but maintain the publication of detailed half-year and full-year results.