NEWS ROUND UP
Barry Callebaut reports growth despite market challenges
According to the latest report released by the Barry Callebaut Group, sales volume for the first three months of the fiscal year 2023/24 saw a modest increase of +0.4%, reaching 580,876 tonnes. This growth, although slight, outpaced the overall declining trend observed in the chocolate confectionery market, which experienced a decrease of -2.7% according to Nielsen data. The company’s diversified business model played a crucial role in mitigating the impact
of market challenges. Despite facing suppressed global volume performance due to weak growth in Fast-Moving Consumer Goods (FMCG) companies, Barry Callebaut managed to capture the consumer shift towards private label products. Gourmet and Specialties volume saw notable growth, indicating a shift in consumer preferences towards premium chocolate offerings. Barry Callebaut’s sales revenue surged to CHF 2.2 billion, marking an increase of +14.1% in
local currencies (+6.2% in CHF). This growth was primarily driven by the company’s cost-plus pricing model, which adjusts for higher costs, and its ability to navigate the inflationary environment effectively. Despite uncertainties in the
cocoa market, Barry Callebaut has taken proactive measures to strengthen its financial position. The successful launch of a CHF 600 million bond and refinancing initiatives demonstrate the company’s
commitment to managing working capital requirements and ensuring financial resilience.
Looking ahead, Barry Callebaut reaffirmed its guidance for flat volume and flat EBIT for the fiscal year 2023/24, including modest benefits from the BC Next Level program. The company remains focused on delivering the best chocolate solutions and services to its customers while navigating the evolving market
DS Smith secures 5-year sole supplier deal with Mondelēz in Europe
Sustainable packaging solutions expert, DS Smith, has announced a significant milestone in its collaboration with Mondelēz International, a powerhouse in the snacking industry. The partnership entails DS Smith being the sole supplier of corrugated packaging across Europe for Mondelēz International, known for its iconic brands such as Oreo, Cadbury Dairy Milk, and Toblerone, among others.
The agreement signifies an extension of their existing
services and a commitment to new projects, showcasing the value both companies place on collaboration and innovation. Cyril Goyet, VP Procurement Europe at Mondelēz International, echoed this sentiment, emphasising the trust and dedication that have fueled their success over the past decade. The collaboration aims to drive sustainable packaging solutions, with a focus on reducing single-use plastics and achieving Net Zero emissions by 2050. DS Smith’s Circular Design Metrics will guide the development of new packaging innovations, ensuring sustainability remains at the forefront of their efforts. With a shared dedication to quality and efficiency,
both DS Smith and Mondelēz International say they are poised to shape the future of packaging, delivering lasting change in the industry.
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Kennedy’s Confection February 2024
KennedysConfection.com
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