Switzerland · Delayed Price · Currency is CHF Barry Callebaut AG Earnings Call Transcripts
Fiscal Year 2026
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Recurring EBIT fell 4.2% year-over-year, but net profit surged 66% on lower finance costs and taxes. Volume guidance improved for H2, with strong cash flow and reduced leverage, while the new Focus for Growth plan targets operational discipline and customer-centricity.
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Q1 volumes declined 9.9% year-over-year amid challenging cocoa markets, but strategic areas like Cacao Coatings and AMEA showed resilience. Lower cocoa prices are improving market stability and forward bookings, with guidance reaffirmed for a gradual recovery in H2.
Fiscal Year 2025
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H2 saw strong cash generation and deleveraging, but full-year volumes and net profit declined due to high cocoa prices and market volatility. Outlook for FY 2025/2026 is cautious, with a focus on deleveraging, operational improvements, and innovation to drive future growth.
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Historic cocoa price volatility led to a 6.3% volume decline but nearly 57% revenue growth, as higher costs were rapidly passed through. Strategic focus on chocolate, operational transformation, and deleveraging are underway, with EBIT recurring set to rise and ample liquidity maintained.
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The company is executing a major transformation through its Next Level program, focusing on digitization, operational efficiency, and customer proximity. Investments target growth in Asia, direct-to-customer models, and sustainability, while maintaining robust financial health and a strong commitment to innovation.
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Unprecedented cocoa bean price volatility drove up costs, reduced volumes by 4.7%, and cut net profit by 69%, despite a 1.5% EBIT increase and strong liquidity. The company maintains its long-term strategy, expects a mid-single-digit volume decline, and continues to invest in cost savings and digital transformation.
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Volumes fell 2.7% in Q1 amid a volatile cocoa market, with guidance now for a low single-digit volume decrease but double-digit EBIT growth. Liquidity has been strengthened, and operational improvements continue, while management remains confident in long-term growth opportunities.
Fiscal Year 2024
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Delivered resilient results amid record cocoa price volatility, with flat volumes, strong EBIT growth, and major transformation progress. Outlook anticipates flat to slightly positive chocolate growth and double-digit EBIT gains, with free cash flow recovery hinging on cocoa price trends.
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EUDR will require full traceability and deforestation-free cocoa imports to the EU by 2025, driving major changes in sourcing, risk management, and compliance. The company’s advanced due diligence, forest protection partnerships, and vertical integration provide a competitive edge as costs are passed to customers.