Barry Callebaut Revenue Increases on Higher Pricing
January 24 2024 - 5:22AM
Dow Jones News
By Nina Kienle
Barry Callebaut said it increased revenue in its first fiscal
quarter, mainly thanks to higher pricing.
The Swiss chocolatier said on Wednesday that it increased
revenue by 6.2% in the quarter ended on Nov. 30 compared with the
same period a year before, reaching 2.24 billion Swiss francs
($2.57 billion). The rise was driven by price adjustments in
response to higher cocoa bean prices and the inflationary
environment amid tight supplies, it said.
In local currencies, first-quarter sales grew 14%, Barry
Callebaut said.
Sales volume grew 0.4% to 580.88 billion metric tons, with
growth in Europe but declines in the rest of the world. Volume
growth was muted due to a weak environment for fast-moving consumer
goods companies and against an overall declining chocolate
confectionery market, the company said.
The company said it strengthened its balance sheet and optimized
its liquidity position through additional financing sources, which
includes the launch of a CHF600 million bond to refinance an
existing bond of 450 million euros ($488.5 million) that was due to
mature in May.
The company confirms its fiscal 2024 guidance of flat volume and
flat earnings before interest and taxes on a recurring basis.
Write to Nina Kienle at nina.kienle@wsj.com
(END) Dow Jones Newswires
January 24, 2024 05:07 ET (10:07 GMT)
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