Financial

Barry Callebaut Group reports growth in chocolate and cocoa volumes

By Anthony Myers contact

- Last updated on GMT

 Antoine de Saint-Affrique, Barry Callebaut's outgoing CEO. Pic: Barry Callebaut
Antoine de Saint-Affrique, Barry Callebaut's outgoing CEO. Pic: Barry Callebaut

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The Barry Callebaut Group said its sales volume of premium chocolate and cocoa products grew +3.4% to 1,622,479 tonnes during the first nine months of the fiscal year ending May 31, 2021.

In particular, its chocolate business regained momentum in the third quarter (+21.2%), resulting in a good performance of +5.6% over the first nine months of the fiscal year 2020-21, well ahead of the underlying global chocolate confectionery market (+1.2%3).

The Group reported that volume growth was supported by all regions (Americas +9.4%, Asia Pacific +9.0%, EMEA +2.9%) and with positive contribution from the Group’s key growth drivers Gourmet & Specialties (+13.1%), Emerging Markets (+12.5%, excluding Cocoa) and Outsourcing (+5.5%).

Region Americas

Large corporate accounts in North America, showed double-digit volume growth, the Group reports as Barry Callebaut continues to expand and invest in the region to serve customers’ needs and further exploit opportunities, exemplified by a recently signed significant outsourcing contract. Gourmet & Specialties volume growth accelerated strongly in the third quarter, bringing it back to the high-teens for the first nine months of fiscal year 2020-21. Sales revenues increased by +11.1% in local currencies (+2.2% in CHF) to CHF 1,343.7m ($1.46m).

Sales volume in Global Cocoa also turned positive in the third quarter (+8.4%), reducing the volume decline after nine months to –4.3%. The market environment remains volatile with global cocoa supply and demand out of balance due to the COVID-19 pandemic, and logistical challenges in the supply chain.

Sales revenue amounted to CHF 5,352.1m, up +7.7% in local currencies (+2.1% in CHF).

Outgoing CEO Antoine de Saint-Affrique said: “As markets are gradually reopening, we expect further normalization of operations and growth to continue. A strong customer focus, a range of exciting innovations and a solid financial basis give us the confidence to deliver on our mid-term guidance.”

Strategic milestones in the first nine months included:

Expansion: In June 2021, Barry Callebaut signed an agreement to acquire Europe Chocolate Company (ECC), a privately-owned B2B manufacturer of chocolate specialties and decorations, located in Malle, Belgium.

In early July 2021, Barry Callebaut announced the start of a long-term outsourcing agreement with Atlantic Stark, a large chocolate confectionery manufacturer in South Eastern Europe.

In Region Americas, Barry Callebaut signed a new significant outsourcing agreement to supply a large confectionery manufacturer with chocolate, starting in September 2021.

Innovation

Barry Callebaut’s global Gourmet brand Cacao Barry launched WholeFruit Evocao, a unique chocolate for chefs and artisans made from 100% pure cacaofruit. WholeFruit chocolate contains exclusively sugars obtained from cacao pulp and 40% less sugar than most dark chocolates.

In June 2021, the group’s pioneer cocoa brand Van Houten launched a powdered chocolate drink made from ruby chocolate for customers in selected European markets. Like all Van Houten products, ruby chocolate drink powder is made with 100% sustainably sourced cocoa beans.

Sustainability

At the Sustainable Food Summit in June 2021, Barry Callebaut's innovative brand Cabosse Naturals won the sustainable ingredients category for upcycling the pulp and peel of the cacaofruit into a range of 100% pure cacaofruit ingredients.

The Group’s achievements outlined in this year’s Cocoa & Forests Initiative (CFI), Company Progress Report included the public disclosure of its direct cocoa suppliers, and continued progress on the location mapping of cocoa farms and the distribution of seedlings and shade trees.

Related topics: Manufacturers, Cocoa & Sugar, Premium

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