Barry Callebaut Reports 4.9% Rise in Sales Revenue

Cocoa and chocolate supplier Barry Callebaut has reported that in the past fiscal year sales revenue rose by 4.9% to CHF 4,261.9 million, helped by positive currency effects.

02/11/06 Barry Callebaut AG, the world’s leading manufacturer of high-quality cocoa and chocolate products, announced its results for fiscal year 2005/06 ended August 31, 2006 – the tenth year since Belgian Callebaut merged with French Cacao Barry in 1996.

Cocoa and chocolate supplier Barry Callebaut has reported that in the past fiscal year sales revenue rose by 4.9% to CHF 4,261.9 million, helped by positive currency effects. Sales volumes in the business units Food Manufacturers and Gourmet & Specialties went up by 4.2%, confirming the robustness of Barry Callebaut’s core businesses.

As the company deliberately discontinued sales volumes in the consumer business and sales volumes of the Cocoa business slightly decreased, overall sales volumes remained flat at 1,049,788 tonnes, down 0.3%.

Operating profit (EBIT) strongly increased by 13.5% to CHF 293.1 million for the past fiscal year. Without the first-time recognition of the employee stock ownership program (ESOP), as required by the new IFRS 2 standards, EBIT would have increased to CHF 300.9 million. EBIT per tonne, the key indicator for operational performance, was CHF 279.2, up 13.7%. Net profit (PAT) went up by 17.4% to CHF 183.0 million (prior-year: CHF 155.9 million, calculated on a like-for-like basis). Excluding the ESOP impact, net profit would have amounted to CHF 190.2 million in the year under review.

Patrick De Maeseneire, CEO of Barry Callebaut, said: “We are pleased that we have again achieved very good results in fiscal year 2005/06, although we had a challenging fourth quarter due to a very hot summer in Europe, which impacted our volume growth. Most importantly, Consumer Products Europe has achieved a positive result; margins were improved and costs reduced. The business is now operating on a solid foundation.”