Barry Callebaut: sees continuing growth in developed markets

Zurich / CH. (bc) Barry Callebaut AG announced its key sales figures for the first nine months of fiscal year 2008/2009 ended May 31, 2009. With sales volumes up 2.6 percent to 895’391 tonnes for the nine-month period under review, growth has resumed after reaching a low in November 2008. In the third quarter, Barry Callebaut´s sales volumes significantly accelerated across all regions and businesses and showed an increase of 8,8 percent – in sharp contrast to the contraction in the global chocolate market. Sales volume growth was driven by several factors: a late Easter; the need of food manufacturers, artisans and retailers to restock; the dynamic development of new markets; and the ongoing implementation of outsourcing contracts. In the period under review, sales revenue in local currencies grew 6,3 percent, driven by higher sales volumes and higher cocoa bean prices. However, sales revenue was impacted by continued unfavorable currency translation effects. In the group´s reporting currency sales revenue went up by 0,9 percent to 3’639,6 million CHF.

Victor Balli, Chief Financial Officer of Barry Callebaut: «We are very satisfied that we managed to regain our growth momentum in the third quarter. The global chocolate market continues to decline in volume terms because consumer sentiment is still worsening in most economies. We attribute our own growth in the face of negative market trends to our geographic expansion, the implementation of outsourcing deals and market share gains. Our order portfolio for the next few months looks very promising and shows good margins. Together with ongoing tight cost control this will help offset the negative impact from declining cocoa butter prices. Therefore we are confident that we will achieve our targets, barring any major unforeseen event».

Info: Barry Callebaut reports sales for the first nine months of fiscal year 2008/2009 – Growth momentum picks up in recessionary markets (complete press release).

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