In fiscal year 2017/18, the Barry Callebaut Group ­increased its sales volume by 6.3 % to 2.036 m t, ­significantly above the growth rate of the global chocolate confectionery market (+1.8 %). According to the company, growth was broadly based with strong contributions from all key growth drivers: Emerging Markets (+ 9.1 %), Gourmet & Specialties (+ 7.7 %) and Outsourcing (+ 5.6 %). Global Cocoa achieved a solid volume growth of 3.9 %.

Sales revenue was flat, + 0.1 % in local currencies (+ 2.1 % in CHF), at CHF 6.948 bn, as a result of lower raw material prices, which the Group passes on to its customers for a large part of its business. Gross profit improved by 17.2% in local currencies (+ 20.7 % in CHF) to CHF 1.157 bn. This increase was driven by volume growth and a better product and customer mix across all regions and product goups. Operating profit (EBIT, recurring) increased by 21.2 % in local currencies (+ 25.3 % in CHF) to CHF 554.0 m. Net profit for the year (recurring) grew by 31.0 % in local currencies (+ 35.9 % in CHF) to CHF 357.4 m.

Net working capital increased to CHF 1,074.4 m, compared to CHF 1,042.5 m in prior year. The increase is largely in line with the Group’s growth. Looking ahead, CEO Antoine de Saint-Affrique said: “The continued execution of our ‘smart growth’ strategy, good visibility on volume growth and healthy global demand give us confidence that we are well on track to achieve our mid-term guidance.”