Barry Callebaut Revenue Increases 8.5%

Barry Callebaut, a Belgian manufacturer of cocoa and chocolate products, says its sales revenue grew by 8.5% to $4.8bn for the fiscal year 2009.

Operating profit for full year grew by 2.8% to $345.5m and net profit increases 10% to $223.45m.

Semi-finished products sold to third-party customers at the cocoa business unit significantly increased, driven by the company’s newly acquired entity in Malaysia and the expansion of existing factories.

The food manufacturer’s business unit benefited from the existing outsourcing contracts, high demand from key accounts and local food processors, primarily in North America, Eastern Europe and Asia-Pacific.

Sales revenue for Europe reached $3.279bn, a decrease of 5.5%. Operating profit benefited from the favourable impact of focusing on higher-margin products and tight cost control, and rose by 6.7% to $291.7m.

In the Americas, sales revenue increased by 23% to $1.13bn as a result of higher sales volumes and higher cocoa bean prices.

Operating profit rose by 15% to $90m as a result of higher sales volume, lower non-cocoa raw material prices and strong cost controls.

In Asia-Pacific and the rest of the world, sales revenue rose by 12.8% to $392.5m.

Operating profit decreased by 36% to $32.59m, influenced by changes in scope and high start-up costs for the new factories.

Barry Callebaut CEO Juergen Steinemann said the company’s growth is likely to lead to further outsourcing agreements as the company expands its core business activities.

“Our strategic focus going forward remains on expanding our core activities with industrial and Gourmet customers,” Callebaut said.

“Based on our existing growth strategy, we see a lot of potential to grow through further outsourcing agreements with industrial customers and to further expand in emerging territories on the basis of our recent and future investments.”