By Nina Kienle
Barry Callebaut said it increased revenue in its first fiscal quarter, mainly thanks to higher pricing.
The Swiss chocolatier said on Wednesday that it increased revenue by 6.2% in the quarter ended on Nov. 30 compared with the same period a year before, reaching 2.24 billion Swiss francs ($2.57 billion). The rise was driven by price adjustments in response to higher cocoa bean prices and the inflationary environment amid tight supplies, it said.
In local currencies, first-quarter sales grew 14%, Barry Callebaut said.
Sales volume grew 0.4% to 580.88 billion metric tons, with growth in Europe but declines in the rest of the world. Volume growth was muted due to a weak environment for fast-moving consumer goods companies and against an overall declining chocolate confectionery market, the company said.
The company said it strengthened its balance sheet and optimized its liquidity position through additional financing sources, which includes the launch of a CHF600 million bond to refinance an existing bond of 450 million euros ($488.5 million) that was due to mature in May.
The company confirms its fiscal 2024 guidance of flat volume and flat earnings before interest and taxes on a recurring basis.
Write to Nina Kienle at [email protected]
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