Barry Callebaut reports strong profit growth

Barry Callebaut AG, Zürich, has announced strong profit growth and strong contribution of acquired cocoa business. During the first half of fiscal year 2013/14 (ended February 28, 2014), Barry Callebaut increased its total sales volume by 17.6% to 876,297 tonnes , driven by incremental volume of the acquired cocoa business. On a stand-alone basis (exklusive the cocoa business acquired from Petra Foods, Singapore), Barry Callebaut’s sales volume went up 3.1% to 768,352 tonnes. Stand-alone volume growth was driven by emerging markets (+ 17.9%), outsourcing and strategic partnership agreements (+ 8.0%), as well as the two global Gourmet brands, Callebaut® and Cacao Barry®, (+ 10.0%).

Sales revenue increased by 21.5% to CHF 2.9 bn (stand-alone: + 5.5%). Gross profit was up 18.0% to CHF 421.6 m. On a stand-alone basis gross profit was up strongly by 11.3%, reaching CHF 397.8 m. Overall, operating profit went up by  15.3% to CHF 201.7 m. Net profit for the period from continuing operations increased 2.7% to CHF 119.6 m, negatively impacted by higher financing costs related to the acquisition and a less favorable tax mix.

CEO Juergen Steinemann confirmed: “We continue to focus on profitable growth based upon our four pillar strategy. Furthermore, we proceed to work towards the full integration of the acquired cocoa business. Achieving all identified synergies will remain our top priority. We confirm our mid-term targets as well as the expected EBIT contribution of about CHF 30 m from the acquired cocoa business for this fiscal year.”

www.barry-callebaut.com