Barry Callebaut: Delivering robust top-line growth

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ZURICH, SWITZERLAND--(Marketwire -07/05/12)- 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 localcurrencies (+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 -fromcontinuing operations

 
---------------+-------+-------------------------+------------+------------
| | Change in % | |
| +----------+--------------+ |
| | | | Nine months| Nine months
| | in local | in reporting | up to May | up to May
| |currencies| currency | 31, 2012 | 31, 2011[1]
---------------+-------+----------+--------------+------------+------------
Sales volume | Tonnes| | 6.6| 1,037,313| 972,802
---------------+-------+----------+--------------+------------+------------
Sales revenue | CHF m | 8.4 | 2.3| 3,593.1| 3,513.3
---------------+-------+----------+--------------+------------+------------

With a sales volume increase of 6.6% to1,037,313 tonnes in the first nine months of fiscal year 2011/12, BarryCallebaut AG, the world's leading manufacturer of high quality cocoa andchocolate products, significantly outperformed the global chocolatemarket.[2]In the last three months the company's sales volume grew 6.5%, maintainingthegrowth rate reported in the first half year. Growth in Q3 was driven by theFoodManufacturers Products business with market share gains and theimplementationof long-term partnership agreements. Year-to-date, all Regions showedpositivegrowth rates, led by the Food Manufacturers Products business in Americasandemerging markets. The Gourmet & Specialties Products business performedwell inall Regions except in the difficult Western European markets, where it alsowasaffected by lower volumes in the Beverages division. Sales revenueincreased by8.4% in local currencies to CHF 3,593.1 million (+2.3% in CHF).

Juergen Steinemann, CEO of Barry Callebaut, said: "We are very satisfiedwiththe overall strong growth in all of our Regions and across all of ourProductGroups given the challenging market environment in Western Europe. Ourproject'Spring' for reviewing all our customer-related structures and processes inWestern Europe, our additional sustainability initiative "Cocoa Horizons"aswell as the implementation of the recent long-term partnership agreementsareall well on track."

Region Europe - Growth driven by Food Manufacturers Products business andEastern Europe

In Europe, the chocolate confectionery market increased by 1.7%.[2] BarryCallebaut outperformed the market with 3.7% volume growth to 531,439tonnes. InWestern Europe the main growth driver was the Food Manufacturers Productsbusiness where the company saw higher demand in chocolate specialtiesproducts.The Gourmet & Specialties Products business reported good growth; overallregional growth was, however, affected by the economic situation inSouthernEurope. In Eastern Europe, Barry Callebaut continued to achievedouble-digitgrowth both in its Food Manufacturers Products and Gourmet business. Salesrevenue in the Region rose 4.0% in local currencies (-3.4% in CHF) to CHF1,695.8 million.

Region Americas - Strong growth across all Product Groups

Once again, Region Americas was the strongest Region in terms of volumegrowth:Sales volume increased by 15.0% to 264,500 tonnes, compared to a 4.0%contraction in the U.S. chocolate market.[3] In North America, bothCorporateand National Accounts of the Food Manufacturers Products business showeddouble-digit volume increases driven by outsourcing volumes and marketshare gains.Also the Gourmet business sustained its double-digit growth rate, supportedbyadditional distribution points as well as first signs of a gourmet marketrecovery. Both Mexico and South America remained on track with strongvolumegrowth versus last year. Sales revenue in the Region increased 13.8% inlocalcurrencies (+9.4% in CHF) to CHF 810.2 million.

Region Asia-Pacific - Accelerated volume growth

Asian chocolate markets grew by 6.3%.[4] Barry Callebaut stronglyacceleratedits sales volume growth in the Region with +12.3% to 43,620 tonnes. TheFoodManufacturers Products business reported double-digit growth across allcountries, supported by strategic as well as local customers. Also theGourmetbusiness developed well in the Region with both its global and localbrands.Barry Callebaut is finalizing chocolate capacity extensions in Kuala LumpurandSingapore. Sales revenue in the Region increased 6.9% in local currencies(+4.1%in CHF) to CHF 176.8 million.

Global Sourcing & Cocoa[5] - Growing with strategic partners

In the recent months, the cocoa price moved in a narrow band of GBP 1,450and1,550 with little activity. There will be more clarity on the crop andfutureprice developments after the current rainy season has come to an end. Theworldsugar market showed a strong downward correction, reaching a 20-month low.Incontrast, EU sugar prices increased due to a structural deficit and marketmeasures by the EU. Dairy market prices stabilized after a phase ofcontinuousdecline triggered by very good milk supply worldwide. Recently pricesstarted toslightly move higher again.

The segment Global Sourcing & Cocoa increased its sales volume by 3.3% to197,754 tonnes, positively impacted by the growth with the company'sstrategicpartners. Barry Callebaut continued to invest in its grinding capacitiesacrossall Regions to prepare the further implementation of the recently signedlong-term partnership agreements. Sales revenue of the segment increasedstrongly by13.0% in local currencies (+7.4% in CHF) to CHF 910.3 million driven byhigheraverage cocoa powder prices.

Other developments / Highlights

As part of capacity expansions in North America, Barry Callebaut enteredinto anagreement to purchase the assets of the Chatham, Ontario facility of BatoryIndustries Company in early June, adding new chocolate and compoundcapacity inthe Midwest. The company also renewed and extended a long-term supplyagreementwith the Japanese company Morinaga. As part of the agreement, BarryCallebautwill build a new chocolate and compound factory near Tokyo.

Outlook - Growth targets confirmed

Juergen Steinemann on the outlook: "This fiscal year, we are investingheavilyall over the world, not only in additional capacity but also in supportingfunctions, to cope with expected future growth. Overall, we are confidentthatwe will reach our mid-term financial targets[6] despite the challengingmarketenvironment in Western Europe."

***

 
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
---------------------------------+-------------------------------

***

Barry Callebaut (http://www.barry-callebaut.com/):

With annual sales of about CHF 4.6 billion (EUR 3.6 billion/USD 5.0billion) forfiscal year 2010/11, Zurich-based Barry Callebaut is the world's leadingmanufacturer of high-quality cocoa and chocolate - from the cocoa bean tothefinished chocolate product. Barry Callebaut is present in 27 countries,operatesaround 40 production facilities and employs a diverse and dedicatedworkforce ofabout 6,000 people. Barry Callebaut serves the entire food industryfocusing onindustrial food manufacturers, artisans and professional users of chocolate(such as chocolatiers, pastry chefs or bakers), the latter with its twoglobalbrands Callebaut(®) and Cacao Barry(®). Barry Callebaut is theglobal leader incocoa and chocolate innovations and provides a comprehensive range ofservicesin the fields of product development, processing, training and marketing.Costleadership is another important reason why global as well as local foodmanufacturers work together with Barry Callebaut. Through its broad rangeofsustainability initiatives and research activities, the company works withfarmers, farmer organizations and other partners to help ensure futuresuppliesof cocoa and improve farmer livelihoods.

***

Group key sales figures for the first 9 months of fiscal year 2011/12 -fromcontinuing operations

 
-----------------+-----------------------------+-------------+-------------
| Change in % | |
| -----------+-------------+ |
| | | Nine months | Nine months
| in local | in reporting| up to May | up to May
| currencies | currency | 31, 2012 | 31, 2011[7]
-----------------+---------------+----------------------------------------
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 |Tonnes | 8.2 727,532 672,552
Products | |
-----------------+---------------+----------------------------------------
Gourmet & | |
Specialties |Tonnes | 3.0 112,027 108,787
Products | |
-----------------+---------------+----------------------------------------
| |
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 |CHF m 7.4 | 1.0 2,126.7 2,105.5
Products | |
-----------------+---------------+----------------------------------------
Gourmet & | |
Specialties |CHF m 5.2 | (0.7) 556.1 560.3
Products | |
-----------------+---------------+----------------------------------------

[1] Due to the discontinuation of the European Consumer Products businesscertain comparatives have been restated to conform with the currentperiod'spresentation.

[2] Source: Nielsen September 2011 until April 2012 (volume growth). Theglobalchocolate market was flat (+0.2%).

[3] Source: Nielsen September 2011 until April 2012 (volume growth), incl.BarryCallebaut estimates.

[4] Source: Nielsen September 2011 until April 2012 (volume growth).

[5] The figures reported under "Global Sourcing & Cocoa" include all salesofcocoa products to third-party customers in all Regions while the figuresshownunder the respective Region show all chocolate sales.

[6] Four-year growth targets for 2009/10-2012/13: On average 6-8% volumegrowthand average EBIT growth in local currencies at least in line with volumegrowth- barring any unforeseen events.

[7] Due to the discontinuation of the European Consumer Products businesscertain comparatives have been restated to conform with the currentperiod'spresentation.

The news release can be downloaded from the following link:

News Release (PDF):http://hugin.info/100441/R/1624048/519256.pdf

This announcement is distributed by Thomson Reuters on behalf ofThomson Reuters clients. The owner of this announcement warrants that:

(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[HUG#1624048]

Contact:
Contacts
for investors and financial analysts:
Evelyn Nassar
Head of Investor Relations
Barry Callebaut AG
Phone: +41 43 204 04 23
Email Contact
for the media:
Raphael Wermuth
External Communications Manager
Barry Callebaut AG
Phone: +41 43 204 04 58
Email Contact

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