Barry Callebaut well prepared for future growth

In its past fiscal year 2011/12 ended August 31, 2012, Barry Callebaut AG accelerated its growth pace and achieved strong volume growth in all regions. Sales volume grew by 8.7% to 1.379 m tonnes. All product groups contributed to this growth. It was driven by the company’s core business, the Food Manufacturers Products business, including long-term partnership agreements. Specialties products and emerging markets also supported growth. Barry Callebaut’s Gourmet business considerably outpaced the respective local market growth.

According to the company, sales revenue increased 11.5% in local currencies (+ 8.3% in CHF) to CHF 4.829 bn. In order to support current and future growth, Barry Callebaut invested significantly in structures, factory expansions, the Gourmet business, ramp-ups related to strategic partnership agreements, and “Sustainable Cocoa”. An accelerated demand as well as capacity constraints in some areas resulted in higher operating and supply chain costs.

All these factors affected the company’s operating profit (EBIT): EBIT increased 1.0% in local currencies (- 2.5% in CHF) to CHF 353.2 m. A lower EBIT (in CHF), higher financing costs as well as a less favourable tax mix led to a decrease in net profit from continuing operations (- 5.2% in local currencies, - 8.5% in CHF) to CHF 241.1 m. Net profit for the year including discontinued operations amounted to CHF 142.6 m, compared to CHF 176.8 m in prior year.

www.barry-callebaut.com