Letter to Shareholders
Setting the course for sustainable profitable growth
We are looking back on a year when we embarked on a journey to prepare ourselves for the next decade of sustainable profitable growth and long-term shareholder value creation. First of all, allow us to thank our over 13,000 colleagues worldwide for their ongoing strong dedication and commitment throughout the past year.
Fiscal year 2022/23 in brief
- Growth in Q4 of +3.9%, bringing full year sales volume to 2.3 million tonnes (-1.1%)
- Sales revenue of CHF 8.5 billion, up +9.7% in local currencies (+4.7% in CHF)
- Operating profit (EBIT) of CHF 659.4 million, up +12.2%1 in local currencies (+5.6%1 in CHF)
- Net profit of CHF 443.1 million, up +9.6%1 in local currencies (+3.4%1 in CHF)
- Adjusted free cash flow2 of CHF 251.8 million impacted by raw material prices
- Proposed dividend of CHF 29.00 per share, a payout ratio of 36%
1Compared to prior-year Operating profit (EBIT) recurring and Net profit recurring. Please refer to page 189 for the detailed recurring results reconciliation.
2Free cash flow adjusted for the cash flow impact of cocoa bean inventories regarded by the Group as readily marketable inventories (RMI).