Financial results

Ferrero International reports 3.4% increase in global turnover

By Anthony Myers contact

- Last updated on GMT

A snapshot of Ferrero's iconic brands. Pic: Ferrero Group
A snapshot of Ferrero's iconic brands. Pic: Ferrero Group

Related tags: Ferrero brands, financial results

Ferrero International has closed the financial year with a consolidated turnover of €12.7bn ($14.43bn), an increase of +3.4% compared to the previous year’s turnover of €12.3bn.

Despite the uncertainties caused by the global Covid-19 restrictive measures that impacted the fiscal year 2020-202, in its latest full-year results ending 31 August, 2021, the Group said it adapted to the challenges of the pandemic by prioritising consumer and employee health and safety.

The Ferrero Group has been able to demonstrate agility and resilience to guarantee operational continuity and delivering products to its consumers​,” it said in its statement.

Ferrero International consists of 107 companies and 32 manufacturing plants worldwide, selling directly and via distributors in over 170 countries.

The Group's average workforce in 2020-2021 was 34,374 employees, increasing from 34,121 employees in 2019-2020. While the headcount as of 31 August 2021 amounted to 38,767 employees, compared to 37,122 as of 31 August 2020.

Key highlights of Ferrero’s full year results include:

• Growth in specific markets including France, Germany and China and consolidation of market shares in most of the regions

• Growth of iconic brands such as Ferrero Rocher, Kinder Bueno, Kinder Joy and Kinder Chocolate

• Launch of new products including Ferrero Rocher and Raffaello ice cream

The Ferrero Group also acquired 100% of the issued share capital of Eat Natural, the UK based maker of high-quality cereal bars, toasted muesli and granola, operating in the fruits and nuts snacking market segment, with the aim to expand the Group overall footprint and product offerings.

Investment

Lapo Civiletti, CEO of The Ferrero Group, said it has also completed some key initiatives, including increasing investment in its iconic brands, strengthening internal R&D activities and, for another consecutive year, investing in improving and expanding its factories, plants and equipment.

As part of the Group’s continued technological development strategy, Ferrero said it expanded its production capacity, with total capital investments amounting to €839m with the main investments in property, plant and equipment (€757 million), for its plants in Italy, Germany, the USA and Poland.

Related topics: Manufacturers, Chocolate, Ferrero

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