Ferrero’s turnover up 10%, annual results reveal
According to its statement, the Italian confectionery giant’s latest fiscal year was ‘marked by a challenging economic and geopolitical environment. The Group was able to grow despite these challenges thanks to the resilience of its people, brands and business model’.
Iconic brands such as Nutella, Ferrero Rocher, Kinder Bueno and Kinder Joy achieved net sales growth, driven by the USA and Italy, accompanied by the consolidation of market shares in most of the regions.
To fuel innovation, the Ferrero Group continued to increase investments in its iconic brands and strengthen its internal R&D. The Group also expanded its production capacity activities to meet consumers’ increasing demand for Ferrero’s products, with total capital investments amounting to €830 million– the main investments being property, plant and equipment (€733 million) for its plants in Italy, the USA, Germany and Poland.
At the end of June 2022, the Ferrero Group finalised the acquisition of FULFIL Nutrition, a high-quality vitamin and protein bar company. “The acquisition is part of the Group’s strategy to expand in the better-for-you market segment, meeting the evolving needs and trends of consumers. FULFIL Nutrition has direct sales in the UK and a distribution network in Ireland as well as other European and Asia Pacific markets,” it said.
Led by Executive Chairman Giovanni Ferrero and CEO Lapo Civiletti, the business now has a base of 109 companies and 32 manufacturing plants globally, operating in 170 countries. It has also increased its employee headcount to 41,441 last August, from 38,767 in 2021.