SWITZERLAND – Swiss cocoa processor and chocolate manufacturer Barry Callebaut has reported a 16.5% jump in sales revenues for the first six months of fiscal year 2021/22.
Barry Callebaut’s sales revenue amounted to CHF 4,030.3 million (US$4.3 billion), up +16.5% in local currencies (+15.8% in CHF).
The Chocolatier attributed this growth to the overall inflationary environment which it manages through its cost-plus pricing model.
Sales volumes for the world’s leading manufacturer grew by 8.7% to 1,164,749 tonnes in the first half of fiscal 2021/2022 which ended on February 28, 2022.
“Although achieved on a low comparison base, the result is well ahead of the Group’s pre-COVID-19 volume in fiscal year 2018/19,” Barry Callebaut said.
“Excluding the first-time consolidation of Europe Chocolate Company (ECC) as of September 2021, organic volume growth in the period under review was +7.9%.”
Chocolate volume grew by an outstanding +9.9%, clearly outpacing the underlying global chocolate confectionery market which managed a +2.0% growth.
Barry’s gross profit amounted to CHF 606.4 million (US$650 million), up +7.2% in local currencies (+6.5% in CHF), growing overall in line with volume.
“The positive volume and mix effect was reduced through the negative impact of the cocoa business and the impairment of financial assets in Russia,” the company explained.
Given the strong performance in H1, Barry in the financial statement expressed confidence in delivering on its mid-term guidance.
Barry-Grupo Bimbo Strategic partnership extended
Earlier, Barry Callebaut announced that it had renewed its supply agreement with Mexican baked goods company Grupo Bimbo.
The outsourcing agreement, originally signed in 2012, covers chocolate products for Bimbo’s domestic market Mexico.
The extended strategic supply agreement includes distribution to Grupo Bimbo in several countries in Central America, the US, Canada and Uruguay.
Barry said that the new partnership enables both companies to continue to drive strategic, long-term growth globally.
“We are pleased to extend our strategic relationship with Barry Callebaut, who has been a partner to our business for the last years,” said David Hernandez, Chief Procurement Officer (CPO) for Grupo Bimbo.
“We look forward to their support of continued sustainable growth and accomplish our mission of nourishing a better world.”
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