Ferrero reports a growing business year 2019/2020

Organic growth (excluding the impact of the business combinations of the previous year) increased by 1.5% at current exchange rates.

The Luxembourg-based confectionery giant said in a statement that full-year turnover came in at € 12.3 bn, offsetting some of the impact of the coronavirus pandemic thanks to higher sales in the U.S., Italy, Germany and France and the launch of some new products. With this approval, the family-operated group with Executive Chairman Giovanni Ferrero and CEO Lapo Civiletti consolidated 105 companies and 31 manufacturing plants worldwide, selling directly and via distributors in over 170 countries.

Meanwhile, the group’s average workforce in 2019/2020 was 34,121 employees, increasing from 33,003 employees in 2018/2019. The headcount as of August 31, 2020 amounted to 37,122 employees, compared to 36,372 as of August 31, 2019.

The company explains: “Despite the uncertainties caused by Covid-19, the Ferrero Group successfully adapted to the challenges coming from the pandemic. Prioritizing consumer and employee health and safety, the Ferrero Group has been able to demonstrate agility and resilience to guarantee operational continuity and delivering products to its consumers.”

According to the approval, another key highlights were the growth of iconic brands such as Nutella®, Kinder Bueno® and chilled products, the launch of new products including Nutella Biscuits® in Italy, and the full integration in the Consolidated Accounts of products such as Keebler®, following its acquisition from Kellogg Company at the end of the 2018/2019 fiscal year.

The company continued to accelerate certain initiatives: increasing investment in its iconic brands; strengthening internal R&D activities; and for another consecutive year investing in improving and expanding its factories, plants and equipment. As part of the continued technological development strategy it expanded its production capacity, with total capital investments amounting to € 619 m – the main investments being property, plant and equipment (€ 534 m), for its plants in Italy, Germany, the USA and Poland.