Barry Callebaut: good progress on integration of acquired cocoa business

In its first quarter of fiscal year 2013/14 (ended November 30, 2013), Barry Callebaut increased its sales volume by 19.5% to 463,996 tonnes. Excluding the recently acquired cocoa business, the Group's volume growth was + 4.6% for the period under review, according to the company. In comparison, the global chocolate confectionery market expanded by 3.4% in volume (source: Nielsen, September 2013 until November 2013).

Most regions and all Product Groups contributed to the solid growth, driven by emerging markets (+ 19.1% stand-alone) as well as the Gourmet & Specialties Products business (+ 9.7% stand-alone). Sales revenue was up 22.4% in local currencies (+ 21.4% in CHF) and came in at CHF 1.515 bn. On a stand-alone basis, sales revenue grew 6.4% in local currencies (+ 5.5% in CHF) to CHF 1.318 bn. This reflects the volume increase as well as higher average raw material prices, in particular for cocoa beans, cocoa butter and milk powder.

Juergen Steinemann, CEO of Barry Callebaut, said: "We have had a solid start into the new fiscal year. Our three key growth drivers – geographic expansion, outsourcing & partnership agreements, and our Gourmet business – have maintained their momentum, with emerging markets and Gourmet delivering particularly strong growth. The integration of the acquired cocoa business continues to make good progress. As of the beginning of the fiscal year, all integration-related workstreams have been transferred into our operational activities and are on track as planned."

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