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

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

Barry Callebaut / Barry Callebaut: Strong first quarter: +8.3% volume growth .
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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 Nov
                      currencies     currency          to          30, 2011[2]
                                                  Nov 30,
                                                     2012
Sales volume  Tonnes                      8.3     388,160              358,567
Sales revenue  CHF m       (1.4)        (0.6)     1,248.4              1,255.8

Zurich/Switzerland - January 16, 2013 - 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^® and Cacao
Barry^® 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^® 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
Côte 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^® and Cacao Barry^®. 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.

                                     ***

Contacts:
for investors and financial analysts: for the media:
Evelyn Nassar                         Raphael Wermuth
Head of Investor Relations            Head of Media Relations
Barry Callebaut AG                    Barry Callebaut AG
Phone: +41 43 204 04 23               Phone: +41 43 204 04 58
evelyn_nassar@barry-callebaut.com     raphael_wermuth@barry-callebaut.com

Group key sales figures for the first 3 months of fiscal year 2012/13 -

from continuing operations

                                  Change in %
                                                    3 months
                              in local in reporting    up to    3 months up to
                            currencies     currency  Nov 30,  Nov 30, 2011^[5]
                                                        2012
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)

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Source: Barry Callebaut via Thomson Reuters ONE
HUG#1670514

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Barry Callebaut
P.O. Box Zurich Switzerland

WKN: 914661;ISIN: CH0009002962;
 
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