Barry Callebaut: third-quarter volumes drop due to Covid

(CercleFinance.com) - Barry Callebaut, the world leader in high-quality chocolate and cocoa products, saw its volumes drop by 14% in the third quarter to 31 May, due to the Covid-19 crisis.


The decline led to a 1.3% fall in the Swiss company's sales volume for the first nine months of fiscal year 2019/20, it said.

Sales volume in the chocolate business fell by 14.1% in the third quarter, resulting in a slight decline of 1.4% over the first nine months, while the global chocolate market was flat.

Barry Callebaut said it saw a gradual recovery in sales volumes in June, as governments started to lift lockdowns.

Citing its "confidence" as markets are gradually reopening, the group updated its medium-term guidance for the period 2020/21 to 2022/23, now targeting +5-7% volume growth, with EBIT growth outpacing volume growth in local currencies.

The shares were up 1.5% in Zurich after this report.

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