Barry Callebaut records first quarter growth, driven by chocolate business performance

Barry Callebaut has reported a key upturn in its results for its first financial quarter, with sales revenues up 14% to CHF 2,03 billion, driven by strong growth in its chocolate portfolio, reports Neill Barston.

The latest data, covering the three months ended November 30, 2021), revealed the company was ahead of its pre-Covid production volumes for its chocolate and cocoa products at 610,000 for the period, up 8.9% against the same timeframe in 2020.

According to the company, which will not be in attendance at this weekend’s ISM event amid the ongoing pandemic, its chocolate business showed notable improvement of 9.6%, above the wider global market, with its gourmet and specialties interests up 33.8%, and growth of 11% in its emerging markets. Global cocoa was also reportedly up 6%, despite a backdrop of uncertainty within the market.

CEO Peter Boone welcomed the results. He said: “With our strong team and sharpened business model, we are confident we will deliver on our mid-term guidance. We are well placed to continue our growth journey in a global market environment which, as expected, is still experiencing the ripple effects of COVID-19, including supply chain bottlenecks and the impact of an imbalanced cocoa market.”


As the business noted it has achieved a number of strategic milestones recently, including strengthening its position in Latin America. After the successful launch of its global decorations brand Mona Lisa in Brazil, the largest decorations market in Latin America, Mona Lisa continued its geographical expansion by entering Mexico, representing its 50th global market

The company also recently unveiled its fifth Forever Chocolate progress report, marking the half-way point of its plan to make sustainable chocolate the norm by 2025. The report shows that the Group is scaling and partnering for change, executing innovative projects, supporting cocoa farming communities and driving measurable impact on the ground. Since 2016 the Group has reduced its carbon intensity per tonne of product by slightly more than –17%.

In addition, there was further success for the business as it increased the visibility of its global Gourmet brand Cacao Barry,  by sponsoring the highly successful Netflix series “School of Chocolate,” which has been a fixture on our screens since last November.

As regards its global segment performance, the European EMEA region remains a strong point for the business, increasing by 13.8% to 286,296 tonnes in the first three months under review. Organic volume growth was +12.6%.

Meanwhile in the Americas, the first three months of fiscal year 2021/22, saw positive volume growth continued in Region Americas with an increase of +1.7% to 164,860 tonnes. For its part, Region Asia Pacific growth momentum further accelerated by 15.9% to 39,506 tonnes, on the back of a low comparison base and in line with the underlying chocolate confectionery market (+18.8%).

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