Barry Callebaut Reports First Volume Growth in Over Two Years

Swiss chocolate maker Barry Callebaut has reported its first volume growth in more than two years, with a 5.7% increase in the third quarter of its fiscal year. This marks a significant turnaround for the company, which has faced declining sales and underperformance.

The growth occurred in the period from March to May. However, for the first nine months of the fiscal year, from September to May, overall volumes still showed a decrease of 2.8%. Revenue during this nine-month period dropped by 12.7% to 9.56 billion Swiss francs (approximately 10.4 billion euros).

While volumes met analyst expectations, revenue fell short, coming in nearly 200 million francs below forecasts. The company has adjusted its full-year volume forecast, now anticipating a 1% decrease, which is at the lower end of its previous projection of a 1% to 3% decline.

Barry Callebaut, with its largest chocolate factory located in Wieze, Belgium, acknowledged that the global chocolate market remains "challenging." The company's profit and debt forecasts remain unchanged, following a significant cut to its profit expectations in April, when a projected increase in operating profit was revised to a decrease of around 15%.