BARRY CALLEBAUT
| Bedrijf : | BARRY CALLEBAUT | Compartiment : | Anders |
| ISIN : | CH0009002962 | Verzender : | Thomson Reuters ONE |
| Type document : | Periodieke informatie / Informatie 2e Kwartaal | ||
| Publicatiedatum : | 7/5/2012 7:02:00 AM |
Barry Callebaut: Delivering robust top-line growth
Barry Callebaut AG / Barry Callebaut: Delivering robust top-line growth . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.
Barry Callebaut's 9-month key sales figures for fiscal year 2011/12
Year-to-date sales volume up 6.6%; sales revenue up 8.4% in local currencies (+2.3% in CHF)
Significantly outperforming the global chocolate market
Growth across all Regions, driven by market share gains and strategic partnerships
Group key sales figures for the first 9 months of fiscal year 2011/12 - from continuing operations
| Change in % | Nine months up to May 31, 2012 | Nine months up to May 31, 2011[1] | |||
| in local currencies | in reporting currency | ||||
| Sales volume | Tonnes | 6.6 | 1,037,313 | 972,802 | |
| Sales revenue | CHF m | 8.4 | 2.3 | 3,593.1 | 3,513.3 |
Juergen Steinemann, CEO of Barry Callebaut, said: "We are very satisfied with the overall strong growth in all of our Regions and across all of our Product Groups given the challenging market environment in Western Europe. Our project 'Spring' for reviewing all our customer-related structures and processes in Western Europe, our additional sustainability initiative "Cocoa Horizons" as well as the implementation of the recent long-term partnership agreements are all well on track."
Region Europe - Growth driven by Food Manufacturers Products business and Eastern Europe
In Europe, the chocolate confectionery market increased by 1.7%.[2] Barry Callebaut outperformed the market with 3.7% volume growth to 531,439 tonnes. In Western Europe the main growth driver was the Food Manufacturers Products business where the company saw higher demand in chocolate specialties products. The Gourmet & Specialties Products business reported good growth; overall regional growth was, however, affected by the economic situation in Southern Europe. In Eastern Europe, Barry Callebaut continued to achieve double-digit growth both in its Food Manufacturers Products and Gourmet business. Sales revenue in the Region rose 4.0% in local currencies (-3.4% in CHF) to CHF 1,695.8 million.
Region Americas - Strong growth across all Product Groups
Region Asia-Pacific - Accelerated volume growth
In the recent months, the cocoa price moved in a narrow band of GBP 1,450 and 1,550 with little activity. There will be more clarity on the crop and future price developments after the current rainy season has come to an end. The world sugar market showed a strong downward correction, reaching a 20-month low. In contrast, EU sugar prices increased due to a structural deficit and market measures by the EU. Dairy market prices stabilized after a phase of continuous decline triggered by very good milk supply worldwide. Recently prices started to slightly move higher again.
The segment Global Sourcing & Cocoa increased its sales volume by 3.3% to 197,754 tonnes, positively impacted by the growth with the company's strategic partners. Barry Callebaut continued to invest in its grinding capacities across all Regions to prepare the further implementation of the recently signed long-term partnership agreements. Sales revenue of the segment increased strongly by 13.0% in local currencies (+7.4% in CHF) to CHF 910.3 million driven by higher average cocoa powder prices.
Other developments / Highlights
As part of capacity expansions in North America, Barry Callebaut entered into an agreement to purchase the assets of the Chatham, Ontario facility of Batory Industries Company in early June, adding new chocolate and compound capacity in the Midwest. The company also renewed and extended a long-term supply agreement with the Japanese company Morinaga. As part of the agreement, Barry Callebaut will build a new chocolate and compound factory near Tokyo.
Outlook - Growth targets confirmed
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Financial calendar for fiscal year 2011/12 (September 1, 2011 to August 31, 2012):
| Full-year results 2011/12 (news release & conference) | November 7, 2012, Zurich |
| Annual General Meeting 2011/12 | December 5, 2012, Zurich |
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Barry Callebaut (http://www.barry-callebaut.com/):
With annual sales of about CHF 4.6 billion (EUR 3.6 billion/USD 5.0 billion) for fiscal year 2010/11, Zurich-based Barry Callebaut is the world's leading manufacturer of high-quality cocoa and chocolate - from the cocoa bean to the finished chocolate product. Barry Callebaut is present in 27 countries, operates around 40 production facilities and employs a diverse and dedicated workforce of about 6,000 people. Barry Callebaut serves the entire food industry focusing on industrial food manufacturers, artisans and professional users of chocolate (such as chocolatiers, pastry chefs or bakers), the latter with its two global brands Callebaut® and Cacao Barry®. Barry Callebaut is the global leader in cocoa and chocolate innovations and provides a comprehensive range of services in the fields of product development, processing, training and marketing. Cost leadership is another important reason why global as well as local food manufacturers work together with Barry Callebaut. Through its broad range of sustainability initiatives and research activities, the company works with farmers, farmer organizations and other partners to help ensure future supplies of cocoa and improve farmer livelihoods.
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Contacts
| for investors and financial analysts: | for the media: |
| Evelyn Nassar | Raphael Wermuth |
| Head of Investor Relations | External Communications Manager |
| Barry Callebaut AG | Barry Callebaut AG |
| Phone: +41 43 204 04 23 | Phone: +41 43 204 04 58 |
| evelyn_nassar@barry-callebaut.com | raphael_wermuth@barry-callebaut.com |
Group key sales figures for the first 9 months of fiscal year 2011/12 - from continuing operations
| Change in % | Nine months up to May 31, 2012 | Nine months up to May 31, 2011[7] | |||
| in local currencies | in reporting currency | ||||
| Group | |||||
| Sales volume | Tonnes | 6.6 | 1,037,313 | 972,802 | |
| Sales revenue | CHF m | 8.4 | 2.3 | 3,593.1 | 3,513.3 |
| By Region | |||||
| Europe | |||||
| Sales volume | Tonnes | 3.7 | 531,439 | 512.498 | |
| Sales revenue | CHF m | 4.0 | (3.4) | 1,695.8 | 1,755.3 |
| Americas | |||||
| Sales volume | Tonnes | 15.0 | 264,500 | 230,015 | |
| Sales revenue | CHF m | 13.8 | 9.4 | 810.2 | 740.6 |
| Asia-Pacific | |||||
| Sales volume | Tonnes | 12.3 | 43,620 | 38,826 | |
| Sales revenue | CHF m | 6.9 | 4.1 | 176.8 | 169.9 |
| Global Sourcing & Cocoa | |||||
| Sales volume | Tonnes | 3.3 | 197,754 | 191,463 | |
| Sales revenue | CHF m | 13.0 | 7.4 | 910.3 | 847.5 |
| By Product Group | |||||
| Sales volume | Tonnes | 6.6 | 1,037,313 | 972,802 | |
| Cocoa Products | Tonnes | 3.3 | 197,754 | 191,463 | |
| Food Manufacturers Products | Tonnes | 8.2 | 727,532 | 672,552 | |
| Gourmet & Specialties Products | Tonnes | 3.0 | 112,027 | 108,787 | |
| Sales revenue | CHF m | 8.4 | 2.3 | 3,593.1 | 3,513.3 |
| Cocoa Products | CHF m | 13.0 | 7.4 | 910.3 | 847.5 |
| Food Manufacturers Products | CHF m | 7.4 | 1.0 | 2,126.7 | 2,105.5 |
| Gourmet & Specialties Products | CHF m | 5.2 | (0.7) | 556.1 | 560.3 |
[1] Due to the discontinuation of the European Consumer Products business certain comparatives have been restated to conform with the current period's presentation.
[2] Source: Nielsen September 2011 until April 2012 (volume growth). The global chocolate market was flat (+0.2%).
[3] Source: Nielsen September 2011 until April 2012 (volume growth), incl. Barry Callebaut estimates.
[4] Source: Nielsen September 2011 until April 2012 (volume growth).
[5] The figures reported under "Global Sourcing & Cocoa" include all sales of cocoa products to third-party customers in all Regions while the figures shown under the respective Region show all chocolate sales.
[6] Four-year growth targets for 2009/10-2012/13: On average 6-8% volume growth and average EBIT growth in local currencies at least in line with volume growth - barring any unforeseen events.
[7] Due to the discontinuation of the European Consumer Products business certain comparatives have been restated to conform with the current period's presentation.
The news release can be downloaded from the following link:
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(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Barry Callebaut AG via Thomson Reuters ONE
