Barry Callebaut Group reported sales volume of 578,694 t during the first three months of the fiscal year 2022/23 (ended on 30 November 2022). Volume was down −5.1 %, in an overall declining market (−2.8 %).

The chocolate business was down by −5.8 %, due to residual effects from the Wieze ramp-up and against a particularly strong comparator of +9.6 % in the same quarter in prior year. This affected all regions, in particular EMEA (−8.5 %). The group’s key growth drivers Emerging Markets (−3.8 %), Outsourcing (−0.1 %) and Gourmet & Specialties (−11.2 %) had a slow start. Excluding the delayed impact due to the Wieze ramp-up, Gourmet & Specialties volume would have been flat against a record high comparator (+33.8 %).

Sales revenue amounted to CHF 2,110.3 m, an increase of +7.2 % in local currencies (+3.8 % in CHF), clearly higher than volume growth. The increase was driven by higher raw material prices and the inflationary environment, which the company manages through its cost-plus pricing model for the majority of its business and positive mix components.