Food products Barry Callebaut with higher sales in 2023/24 with the same volume
Barry Callebaut sold almost the same amount of chocolate in fiscal year 2023/24, which ended in August, as in the previous year. However, sales revenue increased significantly.
06.11.2024, 07:32
06.11.2024, 07:33
SDA
However, profit was significantly lower due to one-off costs in connection with the restructuring.
The world's largest chocolate producer sold a total of 2.28 million tons of chocolate from September 2023 to August 2024, as announced on Wednesday. This is almost exactly the same amount as in the previous year. However, sales volumes fell by 1.2 percent in the fourth quarter.
Meanwhile, turnover rose by 22.6 percent to 10.34 billion Swiss francs. In local currency terms, the increase would even have been 28.1 percent. The company attributes this increase in turnover primarily to price increases. These reflected the rise in cocoa bean prices, according to the company. Barry Callebaut is able to pass on rising input costs to customers for the majority of its business.
Recurring operating profit (EBIT), which is adjusted for non-recurring items, rose by 6.8% to CHF 704.4 million. The company attributes this increase to the passing on of costs, mix and cost savings from the BC Next Level savings program. However, unadjusted EBIT fell by almost a third.
The bottom line was a 56.9 percent lower net profit of CHF 190.9 million. The one-off costs from the restructuring program had a negative impact here. Nevertheless, shareholders will receive a dividend of 29 francs, the same as in the previous year.
The management believes it is on track with the "BC Next Level" strategy program. As is known, BC intends to reduce costs by CHF 250 million per year by 2027. This should increase the EBIT margin to 10 percent.
For the coming year, BC now expects flat volume development and slightly positive growth for Global Chocolate, as well as double-digit recurring EBIT growth at constant exchange rates.
