Barry Callebaut: Strong first quarter: +8.3% volume growth

Barry Callebaut: Strong first quarter: +8.3% volume growth 
ZURICH, SWITZERLAND -- (Marketwire) -- 01/16/13 -- Barry Callebaut /
Barry Callebaut: Strong first quarter: +8.3% volume growth .
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solely responsible for the content of this announcement. 
Barry Callebaut - 3-month key sales figures, fiscal year 2012/13 
* All Regions contributed to the volume growth, driven by Food
Manufacturers
and Gourmet 
* Announced acquisition of Petra Foods' Cocoa Ingredients Division
to support
further growth plans 
* Growth targets confirmed([1]) 
Juergen Steinemann, CEO of Barry Callebaut, said: "I am pleased we
were able to achieve a strong volume growth in the first three months
of our fiscal  year,
driven by substantial growth in emerging
markets, but also supported by a solid
development in North America
and Western Europe. With this and despite the current adverse
economic environment in some countries, once again we significantly
outperformed the market. The planned acquisition of Petra
Foods'
Cocoa Ingredients Division will further support our chocolate
growth and strengthen our presence in the fast growing emerging
markets. This is an important step in achieving our growth plans." 
Group key sales figures for the first 3 month of fiscal year 2012/13
- from continuing operations 


 
 
-----------------------------------------------------------------------
----
                   Change in %
 
                   in local     in reporting  3 months up   3 months up to
                   currencies   currency      to            Nov 30, 2011[2]
                                              Nov 30, 2012
 
---------------------------------------------------------------------------
 Sales       Tonnes             8.3           388,160       358,567
 volume
---------------------------------------------------------------------------
 Sales       CHF m (1.4)          (0.6)       1,248.4       1,255.8
 revenue
---------------------------------------------------------------------------

 
In its first quarter of fiscal year 2012/13 (ended November 30, 2012),
Barry Callebaut, the world's leading manufacturer of high-quality
cocoa and chocolate products, significantly outpaced the global
chocolate
 market[3] with an overall sales volume growth of
+8.3%. All
Regions contributed to this growth. The Food Manufacturers
Products
business' sales volume rose strongly by 10.0%. The Gourmet &
Specialties Products business recorded double-digit increases in all
regions except Western
Europe, where the market environment remained
challenging against the background
of economic uncertainties,
especially in Southern Europe; in total, sales volume
of Gourmet &
Specialties Products increased by 5.9%. Sales revenue for the
first
quarter went down by 1.4% in local currencies (-0.6% in CHF)
because comparable sales prices for cocoa ingredients were lower at
the time when the business was
contracted. 
Outlook - Confident about achieving mid-term growth targets[1] CEO
Juergen Steinemann on the outlook: "We will continue to implement the
various communicated projects supporting our top and bottom-line
growth. I am
confident we will reach our mid-term financial targets." 
Strategic developments 
In December, Barry Callebaut announced the largest acquisition in its
history:
In order to support the further growth of its chocolate
business, the company
will acquire the Cocoa Ingredients Division
from Petra Foods. With this, Barry
Callebaut will boost its presence
in fast growing emerging markets to almost
one-third of the Group's
sales volume. This will enable the company to capitalize on the
attractive growth rates in these markets for cocoa powder-based
applications in beverages, compound chocolates, fillings, bakery
products and ice cream. In addition, this will strengthen Barry
Callebaut's current and
future outsourcing and strategic partnership
agreements as there is a trend towards combined deals (cocoa and
chocolate products). It will also add Asia as a strong sourcing base
besides West Africa. The closing of the transaction is
expected in
summer 2013. 
End of November, Barry Callebaut completed the sale of its factory
and the related business in Dijon (France) to the newly formed
"Chocolaterie de Bourgogne" concluding the final step in the disposal
of all of its consumer activities. The company also announced the
construction of two new chocolate
factories: In order to capitalize
on the growth potential of the Turkish as well
as neighboring
chocolate markets, Barry Callebaut will open a factory for chocolate
and compound in Eskisehir late summer 2013. In addition, the
company
will construct a facility in Santiago de Chile (Chile) after
recently signing a long-term outsourcing agreement with Alimentos Dos
en Uno S.A. to be operational
in early 2014. 
Regional / Segment performance 
Region Europe - Solid growth in Western Europe and EEMEA 
Sales volume in Region Europe rose 6.3% to 201,006 tonnes in a market
environment which was still depressed in Southern Europe. Growth in
Western Europe was particularly driven by the Food Manufacturers
Products business. In
the Gourmet business all countries grew except
Italy; Callebaut(R) and Cacao
Barry(R) equally contributed to the
volume increase. Sales volume at the Beverages division returned to
positive growth rates. In Eastern Europe, Middle
East and Africa
(EEMEA), the Food Manufacturers Products business performed
well
mainly in Russia, Middle East and Turkey. At the same time the
Gourmet & Specialties Products business continued to record
double-digit volume growth.
Overall sales revenue in the Region went
up 2.4% in local currencies (+1.6% in
CHF) to CHF 624.6 million. 
Region Americas - Continued double-digit top-line growth 
Region Americas was again able to achieve double-digit growth rates
in the first
three months; sales volume increased by 14.7% to 104,898
tonnes. In North America the company's global accounts in the
industrial business and the Gourmet
business both grew double digit.
Mexico continued to report a strong performance. Growth in South
America was mainly driven by the vigorous development of the Gourmet
& Specialties Product business. Sales revenue rose
1.4% in local
currencies (+6.3% in CHF) to CHF 300.0 million. The lower growth
in
sales revenue is attributable to lower cocoa ingredient prices, which
only
recently started increasing again. 
Region Asia-Pacific - Strong acceleration of growth 
Both the Industrial and the Gourmet businesses showed high
double-digit sales
volume growth in Barry Callebaut's Region
Asia-Pacific: Overall, volume rose
17.5% to 15,502 tonnes. Strong
growth was recorded in China, Australia, Malaysia, and Korea. In the
Food Manufacturers Products business both global and local accounts
grew double digit. Growth in the Gourmet business was equally
driven
by the imported global brand Callebaut(R) as well as by local
brands;
substantial growth was recorded in China and India. Sales
revenue in the Region
increased by 4.2% in local currencies (+8.0% in
CHF) to CHF 60.9 million. 
Global Sourcing & Cocoa[4] - Fewer powder sales to third party
customers 
Cocoa terminal market prices peaked at around GBP 1,700 in early
September due
to uncertainties with regards to the main crop as well
as the cocoa reform in
Cote d'Ivoire. In the following two months,
prices moved in a narrow range
between GBP 1,500 and 1,600 to close
at GBP 1,586 on November 30, 2012, the average level of the last six
months. Prices on the world sugar market continued
to go down thanks
to a very good crop in Brazil. EU sugar prices slightly increased
with the start of the new crop in October. Following a strong
surge
due to the drought in the U.S., milk powder prices stabilized
at a high level as of September. 
Sales volume in the segment Global Sourcing & Cocoa went up 2.9% to
66,754 tonnes. The growth of this segment was impacted by ongoing
expansion at some of the factories, as well as higher internal demand
for cocoa powder, which limited
sales to third parties. Sales revenue
decreased by 12.8% in local currencies
(-13.1% in CHF) to CHF 262.9
million. This is mainly because sales prices for
cocoa ingredients
(cocoa butter, cocoa liquor, and cocoa powder) were lower at
the time
the business was contracted. 


                                      ***
 
---------------------------------------------------------------------------
 Financial calendar for fiscal year 2012/13 (September 1, 2012 to August
 31, 2013):
---------------------------------------------------------------------------
 Half-year results 2012/13 (news release &            April 8, 2013, Zurich
 conference)
---------------------------------------------------------------------------
 9-month key sales figures 2012/13 (news release)              July 4, 2013
---------------------------------------------------------------------------
 Full-year results 2012/13 (news release &         November 7, 2013, Zurich
 conference)
---------------------------------------------------------------------------
 Annual General Meeting 2012/13                   December 11, 2013, Zurich
---------------------------------------------------------------------------
 
                                      ***

 
Barry Callebaut (www.barry-callebaut.com/): 
With annual sales of about CHF 4.8 billion (EUR 4.0 billion / USD 5.2
billion)
for fiscal year 2011/12, Zurich-based Barry Callebaut is the
world's leading
manufacturer of high-quality cocoa and chocolate -
from the cocoa bean to the
finest chocolate product. Barry Callebaut
is present in 30 countries, operates
around 45 production facilities
and employs a diverse and dedicated workforce of about 6,000 people.
Barry Callebaut serves the entire food industry focusing on
industrial food manufacturers, artisans and professional users of
chocolate (such as chocolatiers, pastry chefs or bakers), the latter
with its two global
brands Callebaut(R) and Cacao Barry(R). 
Barry Callebaut is the global leader in cocoa and chocolate
innovations and provides a comprehensive range of services
in the
fields of product development, processing, training and marketing.
Cost
leadership is another important reason why global as well as
local food manufacturers work together with Barry Callebaut. Through
its broad range of
sustainability initiatives and research
activities, the company works with farmers, farmer organizations and
other partners to help ensure future supplies
of cocoa and improve
farmer livelihoods. 


                                      ***
 
Group key sales figures for the first 3 months of fiscal year 2012/13 -
from continuing operations
-------------------------------------------------------------------------
                        Change in %
---                  ----------------------------           ---------------
                        in local   in reporting 3 months up  3 months up to
                        currencies currency     to Nov       Nov    30,
                                                30, 2012     2011[5]
 
---------------------------------------------------------------------------
 Group
---------------------------------------------------------------------------
 Sales volume    Tonnes                  8.3     388,160        358,567
---------------------------------------------------------------------------
 Sales revenue    CHF m     (1.4)       0.6)     1,248.4        1,255.8
---------------------------------------------------------------------------
 
---------------------------------------------------------------------------
 By Region
---------------------------------------------------------------------------
 Europe
---------------------------------------------------------------------------
 Sales volume    Tonnes                  6.3     201,006        189,020
---------------------------------------------------------------------------
 Sales revenue    CHF m       2.4        1.6       624.6          614.8
---------------------------------------------------------------------------
 
---------------------------------------------------------------------------
 Americas
---------------------------------------------------------------------------
 Sales volume    Tonnes                 14.7     104,898         91,460
---------------------------------------------------------------------------
 Sales revenue    CHF m       1.4        6.3       300.0          282.2
---------------------------------------------------------------------------
 
---------------------------------------------------------------------------
 Asia-Pacific
---------------------------------------------------------------------------
 Sales volume    Tonnes                 17.5      15,502         13,193
---------------------------------------------------------------------------
 Sales revenue    CHF m       4.2        8.0        60.9           56.4
---------------------------------------------------------------------------
 
---------------------------------------------------------------------------
 Global Sourcing &
 Cocoa
---------------------------------------------------------------------------
 Sales volume    Tonnes                  2.9      66,754         64,894
---------------------------------------------------------------------------
 Sales revenue    CHF m    (12.8)      (13.1)      262.9          302.4
---------------------------------------------------------------------------
 
---------------------------------------------------------------------------
 By Product Group
---------------------------------------------------------------------------
 Sales volume    Tonnes                  8.3     388,160        358,567
---------------------------------------------------------------------------
 Cocoa Products  Tonnes                  2.9      66,754         64,894
---------------------------------------------------------------------------
 Food
 Manufacturers
 Products        Tonnes                 10.0     277,946        252,641
---------------------------------------------------------------------------
 Gourmet &
 Specialties
 Products        Tonnes                  5.9      43,460         41,032
---------------------------------------------------------------------------
 
---------------------------------------------------------------------------
 Sales revenue    CHF m     (1.4)      (0.6)     1,248.4        1,255.8
---------------------------------------------------------------------------
 Cocoa Products   CHF m    (12.8)      (13.1)      262.9          302.4
---------------------------------------------------------------------------
 Food
 Manufacturers
 Products         CHF m       2.1        3.4       768.9          743.8
---------------------------------------------------------------------------
 Gourmet &
 Specialties
 Products         CHF m       2.8        3.3       216.6          209.6
---------------------------------------------------------------------------

 
[1] Four-year growth targets for 2011/12-2014/15: On average 6-8%
volume growth
and average EBIT growth in local currencies at least in
line with volume growth
- barring any unforeseen events. 
[2] Restated to reflect the effect of the discontinued business. 
[3] The global chocolate market grew by 1.1%. Source: Nielsen
September 2012
until November 2012. 
[4] The figures reported under "Global Sourcing & Cocoa" include all
sales of
cocoa products to third-party customers in all Regions while
the figures shown
under the respective Region show all chocolate
sales. 
[5] Restated figures Q1 2011/12 due to consumer divestiture. 
The complete news release can be downloaded from the following link: 
Press Release (PDF): http://hugin.info/100441/R/1670514/542865.pdf 
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants
that: 
(i) the releases contained herein are protected by copyright and
other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein. 
Source: Barry Callebaut via Thomson Reuters ONE 
[HUG#1670514] 
Contacts: 
For Investors and Financial Analysts:
Evelyn Nassar
Head of Investor Relations
Barry Callebaut AG
Phone: +41 43 204 04 23
evelyn_nassar@barry-callebaut.com        
For the Media:
Raphael Wermuth
Head of Media Relations
Barry Callebaut AG
Phone: +41 43 204 04 58
raphael_wermuth@barry-callebaut.com
 
 
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