st fiscal year 2012/13 (ended August 31, 2013), Barry Callebaut – the world’s leading manufacturer of high-quality chocolate and cocoa products – strongly increased its sales volume by 11.4% to 1,535,662 tonnes. Excluding the recently acquired cocoa business, the Group accelerated the pace of its volume growth in the second half to +8.7% for the full year. This growth, which was considerably above the global market4, was achieved in a partly challenging economic environment. All Regions and Product Groups contributed to this exceptional growth.Sales revenue was +0.6% in local currencies (+1.1% in CHF) and came in at CHF 4,884.1 million. On a stand-alone basis, sales revenue decreased by 1.9% in local currencies (-1.5% in CHF) to CHF 4,756.4 million. This reflects the lower average raw material prices compared to the prior year.
Gross profit: Product margins further improved across all Regions and Product Groups in the second half of the fiscal year. The negative impact from the combined cocoa ratio slowed in the second half, but was still apparent. Capacity constraints due to the strong volume growth led to additional factory and supply chain costs. Gross profit increased by 8.1% in local currencies (+8.3% in CHF) to CHF 728.5 million. Stand-alone gross profit was +9.3% in local currencies (+9.6% in CHF) at CHF 737.0 million.
On a stand-alone basis, operating profit (EBIT) gained momentum with a solid increase of 4.2% in local currencies (+4.4% in CHF) to CHF 368.8 million, supported by the good performance of Gourmet, partly offset by some (one-off) costs and selective investments in structures and processes. Total EBIT declined by 4.0% in local currencies (-3.9% in CHF) to CHF 339.6 million, impacted by one-off costs related to the acquisition of the cocoa business from Petra Foods and the expected operational loss of this business.
Total net profit for the year from continuing operations was 5.4% lower in local currencies (‑4.9% in CHF) at CHF 229.3 million, resulting from the lower total EBIT.
Outlook – Maintaining growth pace and further improving profitability.
"I am confident that we will be able to maintain our fast growth pace. We will continue to focus on further improving our margins and profitability," chief executive Juergen Steinemann said in a statement on Thursday, confirming the group's midterm guidance.
