Barry Callebaut Recorded a 3.4% growth in sales over the last three quarters, and a 21.2% growth in the last quarter, supported by a strong performance of their chocolate business.
This resulted in sales revenue up 7.7% in local currency but this was reduced to 2.1% by the time it was transferred into Swiss francs (CHF).
This is not the first time the company has seen significant revenue get eroded as a result of currency movement. Value is lost or gained when a company earns money in a foreign currency, for example, dollars, and then transfers profits to their local currency.
The global volume of cocoa sales has moved into positive territory, up 8.4% which has helped reduce the overall decline in cocoa sales volume to now stand at -4.3%.
The Americas and Asia reported the highest cocoa sales growth at 9.4% and 9% respectively, and EMEA trailed with 2.9%.
Thanks to this regained momentum and a strong chocolate performance, we are solidly back into positive territory for the first nine months of the fiscal year and surpassing pre-COVID-19 volume. – Barry Callebaut CEO, Antoine de Saint-Affrique
The company pointed out that their growth was substantially ahead of the industry average using Nielsen as the data source for the comparison.
CEO Antoine de Saint-Affrique also delivered a positive message about the mid-term saying the return to normalisation, a pipeline of new innovations, and a good financial foundation supports the positive outlook.