Barry Callebaut navigated a challenging year with significant disruptions in cocoa supply and pricing. The company demonstrated resilience with solid EBIT growth and strategic progress, particularly in Gourmet and geographic expansion. However, free cash flow was heavily impacted by cocoa price volatility, and challenges remain in China and operational areas. The Next Level transformation is on track but continues to require substantial investment and focus.
Company Guidance
In the recent Barry Callebaut results call for fiscal year 2023/24, the company provided guidance amidst a challenging environment, particularly due to disruptions in the cocoa supply chain and volatile cocoa prices. Despite these challenges, they achieved flat overall volume growth and slightly positive growth in chocolate. The company is navigating through a transformational phase with its BC Next Level program, targeting CHF 250 million in cost savings and a CHF 500 million investment over the next three years. The fiscal year saw a recurring EBIT growth of 13% in local currencies, driven by mix shifts, Next Level cost savings, and the strength of their cost-plus model. However, the free cash flow was significantly impacted by a CHF 2.8 billion increase in working capital requirements due to the high cocoa bean prices. Looking ahead, Barry Callebaut expects flat overall volumes with slightly positive growth in chocolate, and projects double-digit recurring EBIT growth, focusing on the second half of the year as they continue to implement their strategic initiatives.
Solid EBIT Performance
Barry Callebaut delivered strong EBIT growth of nearly 13% in local currencies, despite challenging market conditions. This demonstrates the effectiveness of the company's cost-plus model in protecting profitability.
Strategic Transformation Progress
The company is progressing well on its Next Level transformation program, with CHF18 million in savings realized and 70% to 80% of CHF250 million expected by the end of fiscal '24/'25.
Gourmet Segment Growth
Gourmet segment grew nearly double digits, contributing positively to the overall volume and demonstrating strong market resilience.
Geographic Expansion and New Initiatives
Significant progress in market expansion, particularly in EMEA with 5.2% growth, and launching new initiatives like the Future Farming Initiative and digital transformation efforts.
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Barry Callebaut AG (GB:0QO7) Earnings, Revenues Date & History
The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GB:0QO7 Earnings-Related Price Changes
Report Date
Price 1 Day Before
Price 1 Day After
Percentage Change
Nov 06, 2024
CHF1499.03
CHF1557.59
+3.91%
Apr 10, 2024
CHF1200.58
CHF1305.62
+8.75%
Nov 01, 2023
CHF1312.17
CHF1378.50
+5.06%
Apr 05, 2023
CHF1854.93
CHF1870.17
+0.82%
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Barry Callebaut (GB:0QO7) report earnings?
Barry Callebaut (GB:0QO7) is schdueled to report earning on Apr 10, 2025, TBA Not Confirmed.
What is Barry Callebaut (GB:0QO7) earnings time?
Barry Callebaut (GB:0QO7) earnings time is at Apr 10, 2025, TBA Not Confirmed.
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