Barry Callebaut 5-year results overview

Barry Callebaut's financial results 5-year overview from fiscal year 2015/16 to fiscal year 2019/20

Key figures Barry Callebaut Group¹

Consolidated Income Statement

		CAGR (%)	2019/20	2018/19	2017/18	2016/17 restated	2015/16

Consolidated Income Statement
Sales volume	Tonnes	3.4%	2'095'982	2'139'758	2'035'857	1'914'311	1'834'224
Sales revenue	CHF m	0.8%	6'893.1	7'309.0	6'948.4	6'805.2	6'676.8
Gross profit	CHF m	5.4%	1'063.7	1'197.2 ²	1'157.1	958.8	863.2
EBITDA (recurring)³	CHF m	7.2%	711.9	775.0	728.3	592.1	539.4
Operating profit (EBIT)	CHF m	4.7%	483.2	601.2	554.0	460.2	401.7
Operating profit (EBIT, recurring)³	CHF m	5.1%	491.0	601.2	554.0	442.1	401.7
EBIT (recurring) / sales revenue	%		7.1%	8.2%	8.0%	6.5%	6.0%
EBIT (recurring) per tonne	CHF	1.7%	234.2	281.0	272.1	230.9	219.0
Net profit for the year	CHF m	9.2%	311.5	368.7	357.4	281.1	219.0
Net profit for the year (recurring)³	CHF m	9.9%	319.3	394.7	357.4	263.0	219.0
Free cash flow	CHF m		317.0	289.7	311.9	475.6	430.9
Adjusted Free cash flow⁴	CHF m		403.8	256.8	316.6	n/a	n/a

Consolidated Balance Sheet

		CAGR (%)	2019/20	2018/19	2017/18	2016/17 restated	2015/16
Consolidated Balance Sheet
Net working capital	CHF m	(3.5%)	1'192.0	1'363.2	1'074.4	1'042.5	1'374.2
Non-current assets	CHF m	5.0%	2'800.1	2'650.0	2'505.5	2'477.7	2'301.0
Capital expenditure	CHF m	8.7%	280.9	279.6	217.9	220.4	201.0
Total assets	CHF m	6.1%	7'141.1	6'508.1	5'832.0	5'466.5	5'640.8
Net debt	CHF m	(1.5%)	1'365.9	1'304.7	1'074.3	1'110.9	1'452.8
Shareholders’ equity	CHF m	4.7%	2'353.5	2'399.3	2'269.8	2'111.2	1'956.3

Ratios

		CAGR (%)	2019/20	2018/19	2017/18	2016/17 restated	2015/16
Ratios
Return on invested capital (ROIC)⁵	%		10.3%	12.5%	12.2%	11.0%	9.5%
Return on equity (ROE)⁵	%		13.2%	15.2%	15.7%	12.5%	11.2%
Debt to equity ratio	%		58.0%	54.4%	47.3%	52.6%	74.3%
Interest coverage ratio			6.9	5.2	7.2	4.9	4.0
Net debt / EBITDA (recurring)			1.9	1.5	1.5	1.9	2.7
Capital expenditure / sales revenue	%		4.1%	3.8%	3.1%	3.2%	3.0%

		CAGR (%)	2019/20	2018/19	2017/18	2016/17 restated	2015/16
Shares
Share price at fiscal year-end	CHF	12.2%	2'000	2'024	1'728	1'380	1'264
Number of shares issued			5'488'858	5'488'858	5'488'858	5'488'858	5'488'858
Market capitalization at year-end	CHF m	12.2%	10'977.7	11'109.4	9'484.7	7'574.6	6'937.9
EBIT (recurring) per share	CHF	5.2%	89.6	109.7	101.0	80.6	73.2
Basic earnings per share	CHF	9.9%	57.7	67.6	64.9	47.8	39.5
Cash earnings per share	CHF		57.8	52.9	56.9	86.7	78.6
Payout per share	CHF	9.1%	22.0	26.0	24.0	20.0	15.5
Payout ratio	%		39%	39%	37%	39%	39%
Price-earnings ratio at year-end			34.7	30.0	26.6	28.9	32.0

Other

		CAGR (%)	2019/20	2018/19	2017/18	2016/17 restated	2015/16
Other
Employees		5.7%	12'335	12'257	11'570	10'528	9'898
Beans processed	Tonnes	2.3%	982'725	1'002'025	956'440	925'544	898'135

^{1 Financial performance measures, not defined by IFRS, are defined on page 182.}

^{2 Certain items previously classified under Other income and Other expense are now classified under the functional they relate. This resulted in a CHF 8.8 million increase in Gross profit in fiscal year 2018/19.}

^{3 EBITDA recurring, Operating profit (EBIT) recurring and Net profit recurring exclude the cost of CHF 7.8 million for the closure of the Makassar, Indonesia, cocoa factory.}

^{4 From fiscal year 2017/18 onwards, adjusted Free cash flow is presented for the cash flow impact of cocoa bean inventories regarded by the Group as readily marketable inventories.}

^{5 From fiscal year 2018/19 onwards calculated based on Pro-forma (IFRS 16) and from 2017/18 onwards calculated based on Pro-forma (IFRS 15). For the current year impact of IFRS 16 refer to pages 46–49.}