Region EMEA – Strong growth continued
Sales volume of Barry Callebaut in Region EMEA (Europe, Middle East and Africa) increased by +8.7% to 269,636 tonnes. Excluding the first-time consolidation of Inforum as of February 2019, organic growth was +4.0%, again outpacing the underlying chocolate confectionery market (+0.3%)3. Food Manufacturers continued its solid growth in Western Europe and posted doubledigit volume growth in Eastern Europe. Gourmet continued its steady growth in the first three months of the fiscal year. Gourmet & Specialties’ overall volume growth was, as expected, impacted by negative Beverage volume. Actions to address the negative Beverage volume have been implemented and are expected to deliver results in the second half of the fiscal year. Sales revenue increased by +8.5% in local currencies (+5.2% in CHF) to CHF 845.6 million.
Region Americas – Solid start
Against a strong prior-year comparator, Region Americas increased its sales volume by +3.3% to 152,843 tonnes, well ahead of the declining regional chocolate confectionery market (-3.0%)3. Volume growth was supported by both Food Manufacturers and Gourmet. In South America, Gourmet continued its double-digit growth. Sales revenue increased by +4.2% in local currencies (+4.1% in CHF) to CHF 499.4 million.
Region Asia Pacific – Strong momentum continues
Volume growth in Region Asia Pacific continued the strong growth momentum with +21.8% to 33,486 tonnes. Volume growth again significantly outpaced the regional chocolate confectionery market (+6.3%)3. Growth was fueled by Food Manufacturers – mainly with regional accounts – as well as double-digit growth in Gourmet & Specialties in key markets such as China and India. Sales revenue increased by +12.8% in local currencies (+14.1% in CHF) to CHF 112.3 million.
Global Cocoa – Exceptional growth against weak comparator
Global Cocoa delivered exceptional growth against a weak prior-year comparator. Sales volume increased by +10.2% to 129,655 tonnes. Sales revenue increased by +12.5% in local currencies (+8.8% in CHF) to CHF 543.5 million, reflecting the higher cocoa bean prices.
Price developments of the most important raw materials
During the first three months of 2019/20 cocoa bean prices fluctuated between GBP 1,757 and GBP 1,944 per tonne and closed at GBP 1,881 per tonne on November 30, 2019. On average, cocoa bean prices increased by +14.8% versus the prior-year quarter. Global bean supply and demand remained balanced. Côte d’Ivoire and Ghana announced in July 2019 a living income differential (LID) of USD 400 per tonne of cocoa beans, effective as of the 2020/21 crop.
Sugar prices in Europe on average increased +31.6% compared to the prior-year first quarter, due to uncertainty about the crop outlook. World sugar prices on average decreased by -4.1%. Dairy prices on average increased by +48.0% compared to the same prior-year quarter on the back of weaker milk production combined with continued good demand.
3 Source: Nielsen, volume growth excluding e-commerce – September to November 2019, data subject to adjustment to match Barry Callebaut’s reporting period.
Financial Calendar for Fiscal Year 2019/20
(September 1, 2019 to August 31, 2020)
|Half-Year Results 2019/20
||April 16, 2020
|9-Month Key Sales Figures 2019/20
||July 9, 2020
|Full-Year Results 2019/20
||November 11, 2020
|Annual General Meeting 2019/20
||December 9, 2020