The Barry Callebaut Group saw resilient sales volume of 2.280 m tonnes (0.0% year-on-year) in fiscal year 2023/24 (ended August 31, 2024).  

Sales volume was down 1.2% in the fourth quarter, impacted by the phasing of customer purchases in Gourmet and decisive action to temporarily shut down the Toluca, Mexico facility proactively.

Global Chocolate saw 0.3% volume growth in fiscal year 2023/24, ahead of an overall declining chocolate confectionery market according to NielsenIQ (- 1.1%; source: NielsenIQ volume growth excluding e-commerce – 26 countries, September 2023 to August 2024, data subject to adjustment to match Barry Callebaut’s reporting period; NielsenIQ data only partially reflects the out-of-home and impulse consumption). Volume development for food manufacturers (- 1.5%) was impacted by soft demand from large global customers, partly offset by resilient performance for private label customers. Gourmet delivered 9.8% volume growth, with strong performance across geographies and market segments.
Looking at regional performance within Global Chocolate, Asia Pacific, Middle East, and Africa (+ 5.2%) was the strongest contributor, with double-digit growth in the second half of the year supported by continued strong growth in India and improved performance in Indonesia. Volume in Western Europe (+ 0.8%) was solid as growth for Gourmet offset slower demand for food manufacturers. Latin America saw strong volume growth of 7.2% led by strong momentum in Brazil, particularly for Gourmet customers. Central and Eastern Europe (- 1.2%) was impacted by lower volumes for several large global and regional customers. North America reported a volume decrease of 1.8%, driven by slower demand for large food manufacturers, while regional accounts and Gourmet saw continued momentum. Global Cocoa saw a 1.4% decrease in sales volume, in the context of a significant increase in cocoa prices. Sales of cocoa butter and cocoa liquor were impacted by the supply constrained environment. Demand for cocoa powder remained robust, with particular strength in India and Indonesia.

Sales revenue increased 28.1% in local currencies (+ 22.6% in CHF), to CHF 10.386 bn. The increase was driven by significant price increases to reflect the acceleration in cocoa bean prices, which Barry Callebaut manages through its cost-plus pricing model for the majority of its business. Gross profit amounted to CHF 1.382 bn, up 7.7% in local currencies (+ 2.5% in CHF), supported by the company's cost-plus pricing model and mix. Operating profit (EBIT) recurring amounted to CHF 704.4 m, increasing by 12.7% in local currencies (+ 6.8% in CHF). The strong increase reflected the pass-through of higher financing costs through the cost-plus model, which are offset below the EBIT level, as well as mix and initial BC Next Level cost savings. Operating profit (EBIT) reported amounted to CHF 446.1 m compared to CHF 659.4 m in the prior year. Net profit recurring for the period amounted to CHF 417.5 m, down 2.0% in local currencies (- 5.8% in CHF). Net profit reported amounted to CHF 190.9 m.