Strong year - dynamic growth

Thursday, 04. November 2010 07:01
Barry Callebaut AG /
Strong year - dynamic growth
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The issuer is solely responsible for the content of this announcement.

Barry Callebaut reports full-year results for fiscal year 2009/10 ended August
31, 2010:
*  Significant sales volume growth: +7.6%
*  Accelerated sales volume growth of Gourmet & Specialties business: +17.3%
*  Sales revenue up 11.3% in local currencies (+6.8% in CHF)
*  Strong operational result: EBIT +7.9% in local currencies (+5.6% in CHF)
* Excellent net profit development: +13.5% in local currencies (+10.9% in CHF)
* Financial performance targets[1] confirmed and extended by one year through
2012/13
* Proposal of a capital repayment of CHF 14.00 per share, up 12% compared to
prior year
* Mr Jakob Baer proposed for election as additional Board member

Group key figures for fiscal year 2009/10

+-----------------+-----+----------------------------+------------+------------+
|  |   | Change in % |  |  |
| | +--------------+-------------+ | |
| | | in local| in reporting|12 months up|12 months up|
| | | currencies| currency| to Aug| to Aug|
| | | | | 31, 2010| 31, 2009|
+-----------------+-----+--------------+-------------+------------+------------+
| GROUP |   |  |  |  |  |
+-----------------+-----+--------------+-------------+------------+------------+
|   Sales volume | mt |  | 7.6| 1,305,280| 1,213,610|
+-----------------+-----+--------------+-------------+------------+------------+
|   Sales |CHF m| 11.3| 6.8| 5,213.8| 4,880.2|
|revenue          | | | | | |
+-----------------+-----+--------------+-------------+------------+------------+
| EBITDA |CHF m| 5.8| 3.2| 470.7| 456.1|
+-----------------+-----+--------------+-------------+------------+------------+
| Operating profit|CHF m| 7.9| 5.6| 370.4| 350.8|
|(EBIT) | | | | | |
+-----------------+-----+--------------+-------------+------------+------------+
| Net profit |CHF m| 13.5| 10.9| 251.7| 226.9|
+-----------------+-----+--------------+-------------+------------+------------+

Zurich/Switzerland, November 4, 2010 - Barry Callebaut AG, the world's leading
manufacturer of high-quality cocoa and chocolate products, reported strong
results for fiscal year 2009/10 (ended August 31). With a sales volume growth of
7.6%, Barry Callebaut significantly outperformed the global chocolate
confectionery market which was basically flat at a growth rate of 0.3%. All
regions contributed to this growth. It was particularly strong in those regions
where Barry Callebaut had made major investments in the past years: Americas
(+15.6%), Asia-Pacific (+15.5%) and Eastern Europe (+11.1%). In terms of Product
Groups, Gourmet & Specialties Products managed to accelerate their fast growth
pace, recording a sales volume increase of 17.3%.

The strong Swiss franc - Barry Callebaut's reporting currency - had an
unfavorable impact on sales revenue, operational profit (EBIT) and net profit.
In local currencies, sales revenue grew strongly by 11.3% (+6.8% in CHF) and
reached CHF 5,213.8 million, driven by a higher sales volume and higher average
raw material prices. Further operational efficiency gains, an improved capacity
utilization as well as tight cost management programs could more than compensate
for the anticipated unfavorable combined cocoa ratio[2], the adverse currency
translation effect and fewer one-off gains than in the prior-year period.
Operating profit (EBIT) growth in local currencies was 7.9%; in CHF, the
increase was 5.6%, up to CHF 370.4 million. As a result of lower financing
costs, net profit  grew even faster than EBIT; it rose to CHF 251.7 million, or
+13.5% in local currencies (+10.9% in CHF).

Juergen Steinemann, CEO of Barry Callebaut, said: "We have managed to deliver
top results. Market conditions were challenging with a still rather fragile
world economy, a flat global chocolate market, high raw material prices and
important currency fluctuations. Our growth strategy based on the three pillars
of expansion, innovation and cost leadership, together with our robust business
model, have allowed us to cope well with all these market challenges. The main
highlights of the past fiscal year were the successful negotiations of a major
long-term global supply agreement with Kraft Foods signed in early September
2010, confirming the trend towards outsourcing and strategic partnerships; the
opening of our chocolate factory in Brazil, the first one we have in South
America; and the gratifying results of our increased focus on our Gourmet &
Specialties business."
The global chocolate confectionery market[3]
Until April 2010, the global chocolate confectionery market was flat in volume
terms. Thereafter, it began to recover in some regions but, with a slight plus
of 0.3%, it still has not returned to its previous long-term average growth rate
of 2-3% per year. However, some markets recorded attractive growth rates, such
as the United States (+2.7%), Brazil (+3.5%) and China (+8.2%), while growth in
Western Europe was still low (+0.9%) and Eastern Europe continued to suffer (-
5.3%).

Overview of performance by region in fiscal year 2009/10

Region Europe - Strong performance amidst challenging market conditions

After bottoming out by the end of calendar year 2009, the chocolate
confectionary markets in Western Europe saw a stagnating first semester followed
by a second half with slightly increasing consumption - Eastern Europe still
shows negative growth rates, especially Russia.[3]

Barry Callebaut increased its sales volume in Region Europe by 4.1% to 753,011
tonnes. In local currencies, sales revenue outperformed volume growth at 4.8%,
but was hit by adverse currency effects; in CHF it decreased by 0.5% to CHF
3,042.0 million. Operating profit (EBIT) strongly rose to CHF 268.7 million, up
8.3% in local currencies (+6.3% in CHF), as a result of efficiency gains, slight
margin improvements and strict cost control.

Eurogran, the Danish vending mix specialist acquired in summer 2009, as well as
Spanish compound and chocolate maker Chocovic, acquired in December 2009, have
now been fully integrated into the Barry Callebaut Group and made a positive
contribution to sales volume, sales revenue and EBIT. In the factory in Lodz,
Poland, a second chocolate production line went on stream in October 2010.

Region Americas - Substantial growth in a mixed market environment

The mature economies of the United States and Canada slowly returned to positive
GDP growth after being hit hard by the financial crisis. However, consumer
confidence softened and the economic recovery stalled in the second half of the
fiscal year. In contrast, the developing regions of Brazil and Mexico showed
consistent strength. Chocolate consumption in the United States dipped to low
levels in early 2010 but rebounded strongly in the third quarter of fiscal year
2009/10. Overall, the chocolate market in the U.S. grew by 2.7% while the
Brazilian chocolate market increased by 3.5%.[3]

In this mixed market environment, Barry Callebaut's Region Americas achieved a
strong sales volume growth of 15.6% to 291,399 tonnes, driven by long-term
outsourcing and supply agreements with key Corporate Accounts as well as through
broad-based growth in the Gourmet business. Sales revenue went up to CHF 998.2
million, corresponding to an increase of 15.7% in local currencies (+10.8% in
CHF). Operating profit (EBIT) rose considerably by 6.3% in local currencies
(+7.2% in CHF) and came in at CHF 92.5 million, positively influenced by the
volume growth in both Food Manufacturers and Gourmet & Specialties Products
business, partly offset by infrastructure investments to support the ongoing
growth, including the start-up costs for the new chocolate factory in Brazil,
inaugurated in May 2010. This factory which will primarily manufacture Gourmet
products is now operational.

Region Asia-Pacific - A strong growth story continues

In 2009 economic growth ratesin Asia-Pacific were mixed, ranging from a GDP
decline of 5.2% in Japan to an impressively resilient growth rate of around
9.0% for China. In 2010, GDP growth in the region is expected to range between
4.5% and 9.5%, with the exception of Japan.[4] However, the general growth
dynamics in Asia did not translate into higher chocolate consumption across all
markets in fiscal year 2009/10. While some chocolate markets, such as China,
India, Indonesia and Malaysia showed significant growth, Japan - one of the
major markets - was flat.[3]()

In Region Asia-Pacific, Barry Callebaut increased its sales volume by 15.5% to
47,984 tonnes. Sales revenue went up by 23.2% in local currencies (+21.4% in
CHF) and came in at CHF 211.1 million. Key drivers for this strong growth were
higher demand for quality chocolate, including the company's imported European
Gourmet products, and market share gains. Due to the disposal of the Asian
consumer business in the previous fiscal year, operating profit (EBIT) decreased
by 27.4% in local currencies (-28.4% in CHF) and amounted to CHF 20.9 million.
Without this one-off effect, EBIT grew 87.6% in local currencies (+85.0% in
CHF).

Global Sourcing & Cocoa[5] - Creating value through core ingredients

In fiscal year 2009/10 cocoa prices were very volatile and reached new
historical highs driven by fears of a poor crop and heavy speculative buying.
Prices jumped aggressively in the initial months, reaching a 33-year high at the
London terminal market in July 2010, but then fell back to close at GBP 1,954
per tonne on August 31, 2010, around last year's level. While the world sugar
price has shown a significant upside move due to a deficit production for the
second crop in a row, the sugar price in the regulated EU region, where Barry
Callebaut sources the majority of its sugar supplies, was stable, even somewhat
declining. Prices for skimmed milk powder went up considerably in the first half
of the fiscal year to then stabilize at a relatively high level.

Global Sourcing & Cocoa strongly increased the volume of cocoa products sold to
third-party customers by 8.2% to 212,886 tonnes. North and South America were
the top performers, with both showing double-digit growth. Sales revenue came in
at CHF 962.5 million, a significant increase in local currencies of 29.9%
(+28.5% in CHF), due to both higher cocoa bean prices and higher volumes. There
was high demand for cocoa powder since the market segments using cocoa powder as
an ingredient - mainly the bakery, ice cream and beverage industries - did not
suffer as much from the global economic crisis as the chocolate confectionery
market where cocoa butter is used to a great extent. Due to the stagnation in
the global chocolate market, cocoa butter stocks further increased. As a result
the (forward) combined cocoa ratio was under pressure because the high cocoa
powder prices could not compensate for the low cocoa butter prices. The combined
cocoa ratio showed a recent improvement but it is too early to say whether this
will last. Operating profit (EBIT) grew to CHF 54.5 million, +5.4% in local
currencies (+3.9% in CHF).

Development by product group in fiscal year 2009/10

Food Manufacturers Products increased its sales volume by 8.3% to 830,849
tonnes, driven by solid growth in all regions, the further implementation of
previously signed outsourcing contracts and strong sales of decorations, as well
as compounds and fillings. While growing 9.6% in local currencies, sales revenue
growth in CHF was 4.3% due to negative currency translation effects; sales
revenue was CHF 2,716.7 million.

Operating profit (EBIT) for the Industrial Products Group (Cocoa Products and
Food Manufacturers Products) stood at CHF 290.6 million, up 7.5% in local
currencies (+6.3% in CHF), as a result of higher volumes, efficiency gains and
continuous improvements.

Gourmet & Specialties Products managed to accelerate their fast growth pace as a
result of a stronger focus on the business with artisanal customers,
strengthened distribution, an adjusted product range and market share gains in
all regions. With more at-home consumption than prior to the global economic
crisis, for example in North America, the business in the bakery, pastry and
confectioners segments was holding up while the Hotel/Restaurant/Catering
(HORECA) segment was generally still soft. Sales volume grew significantly by
17.3% to 133,048 tonnes, partly supported by scope effects resulting from the
recent acquisitions of Eurogran in Denmark and Chocovic in Spain. In the
beverage business, Barry Callebaut is now the market leader in Europe. Sales
revenue amounted to CHF 707.6 million, up 19.4% in local currencies (+14.3% in
CHF).

Consumer Products underwent a change in scope due to the divestment of the Asian
consumer business in the previous year and reclassification of certain Food
Manufacturers Products into Consumer Products in line with the segment reporting
changes introduced this year. This had an impact on sales volume, sales revenue
and operational profit (EBIT). Consumer Products managed to grow its
international sales and to improve its country portfolio. Sales volume overall
declined by 5.7% to 128,497 tonnes. Sales revenue amounted to CHF 827.0 million,
a decrease of -4.6% in local currencies or -8.8% in CHF.

Operating profit (EBIT) for the Food Service/Retail Products Group (Gourmet &
Specialties and Consumer Products) was CHF 146.0 million, up 1.9% in local
currencies (-0.8% in CHF). Excluding the one-off gain of CHF 17.9 million
related to the aforementioned sale of the Asian Consumer business in the prior
year, EBIT went up 16.0% in local currencies and 12.9% in CHF.

Fine-tuning Barry Callebaut's growth strategy
The past two challenging years confirmed the validity of Barry Callebaut's
growth strategy based on the three pillars geographic expansion, innovation and
cost leadership. However, the strategic pillar "geographic expansion" needed
some fine-tuning because, apart from geographic expansion, there are also
opportunities to expand in scale, breadth and depth.

First, Barry Callebaut intends to further strengthen the global leadership
position of its Gourmet & Specialties business by managing it as a unit that is
'independent from but interdependent with' its industrial business. This means
that dedicated management teams have been appointed for the Gourmet &
Specialties businesses in Western Europe and North America, the biggest markets,
who will get their own profit and loss responsibility within the region to even
better steer the implementation of the Gourmet strategy. The better segmentation
of the different customer groups and markets will allow Barry Callebaut to adapt
its product range and service offering to meet their specific needs. At the same
time, the Gourmet & Specialties business will remain interdependent with the
Group's industrial factories and benefit from their scale and manufacturing
efficiency. Beyond this, the international gourmet brands Callebaut and Cacao
Barry will be developed into global brands and marketing activities will be
built around them.

Second, when looking at the business with industrial customers, Barry Callebaut
will take a three-pronged approach: 1) driving the current market consolidation
and strengthening the position in the mature markets of Western Europe and North
America; 2) achieving the full potential in the recently entered emerging
markets, such as Russia, China, Japan, Mexico and Brazil; 3) carefully analyzing
the entry to other emerging markets. Implementing existing outsourcing volumes
and strategic partnerships as well as securing further outsourcing deals with
regional and local food manufacturers will remain an essential part of Barry
Callebaut's business strategy.

Outlook
Looking ahead, CEO Juergen Steinemann said: "The results of the past fiscal year
and our fine-tuned strategy give us the confidence to confirm our financial
performance targets and to extend the period by one year to 2012/13*. With
regard to the economic situation we are cautiously optimistic. We believe that
growth will continue to pick up, albeit with geographic variations. As a
consequence, we assume that the global chocolate market will grow by
approximately 1-2%, i.e. still below the long-term average of 2-3% per annum. We
expect raw material prices to stay above the historical averages and to remain
volatile. This is why we will focus on securing our long-term supply of cocoa
beans - the foundation of our business. Our strategic priorities will be
accelerating the growth of our Gourmet business, implementing recent outsourcing
and strategic partnership agreements, setting the stage for the next wave of
geographic growth in emerging markets, and enhancing our organizational
structures to successfully manage our further growth."

* These targets are on average 6-8% volume growth per annum and average EBIT
growth in local currencies at least in line with volume growth - barring any
major unforeseen events

Proposals to the Annual General Meeting

Par value reduction in lieu of a dividend
The Board of Directors proposes to the Annual General Meeting of December
7, 2010 to increase the repayment to shareholders by 12%, from CHF 12.50 to CHF
14.00 per share, representing a payout ratio of 28.8%. Instead of a dividend
payment, the Board of Directors proposes to reduce the share capital of the
company through the reduction of the par value per share from CHF 38.20 to CHF
24.20. The par value reduction of CHF 14.00 will be paid out to shareholders in
March 2011, subject to approval by the shareholders at the Annual General
Meeting.

Board of Directors
All Board members will stand for re-election for another term of office of one
year. Further, the Board of Directors proposes to the Annual General Meeting
that Mr. Jakob Baer, former CEO of KPMG (Switzerland) and today member of the
Board of major companies such as Swiss Re, Adecco, Rieter and Allreal, be
elected as additional  member of the Board of Directors (see separate CV). He is
foreseen as successor to long-time Board member Urs Widmer who intends to step
down from the Board as of the Annual General Meeting 2011 due to retirement.

* * *

For more detailed financial information see Barry Callebaut's "Annual Report
2009/10" (only available in English on November 4, 2010; German version to be
available as of November 12, 2010), as well as the company's "Letter to
Investors", both posted on the company's website (www.barry-
callebaut.com/documentation).

* * *

Barry Callebaut  www.barry-callebaut.com :
With annual sales of about CHF 5.2 billion / EUR 3.6 billion / USD 4.9 billion
for fiscal year 2009/10, Zurich-based Barry Callebaut is the world's leading
manufacturer of high-quality cocoa and chocolate - from the cocoa bean to the
finest finished product. Barry Callebaut is present in 26 countries, operates
more than 40 production facilities and employs about 7,500 people. The company
serves the entire food industry, from food manufacturers to professional users
of chocolate (such as chocolatiers, pastry chefs or bakers), to global
retailers. Barry Callebaut is the global leader in cocoa and chocolate
innovations and provides a comprehensive range of services in the fields of
product development, processing, training and marketing. The company is actively
engaged in initiatives and projects that contribute to a more sustainable cocoa
supply chain.

* * *

Financial calendar for fiscal year 2010/11 (September 1, 2010 to August
31, 2011):

Annual General Meeting 2010/11 December 7, 2010, Zurich
3-month key sales figures 2010/11 (news release) January 12, 2011
Half-year results 2010/11 (news release & conference) April 1, 2011, Zurich
9-month key sales figures 2010/11 (news release) June 30, 2011
Full-year results 2010/11 (news release & conference) November 10, 2011, Zurich
Annual General Meeting 2010/11 December 8, 2011, Zurich



* * *

Contacts

for investors and financial analysts: for the media:

Evelyn Nassar Raphael Wermuth
Head of Investor Relations External Communications Manager
Barry Callebaut AG Barry Callebaut AG
Phone: +41 43 204 04 23 Phone: +41 43 204 04 58
evelyn_nassar@barry-callebaut.com raphael_wermuth@barry-callebaut.com


 * * *

Media and Analysts'/Institutional Investors' conferences of Barry Callebaut AG
Date:                       Thursday, November 4, 2010
Location:               Barry Callebaut Head Office, Chocolate Academy,
Groundfloor,
                                Pfingstweidstrasse 60, Westpark, 8005
Zurich/Switzerland
Time:
Media                                                     09:30 am to 10:30 am
CET
                               Analyst/Institutional Investors:       11:30 am
to approx. 01:00 pm CET

The conference can be followed by telephone or audio
Webcast.

+-------------------+----------------------+---------------------------------+
|   | Media | Analyst/Institutional Investors |
+-------------------+----------------------+---------------------------------+
| Switzerland | 0565 800 012 | 0565 800 012 |
+-------------------+----------------------+---------------------------------+
| Belgium | 02 401 25 18 | 02 401 25 18 |
+-------------------+----------------------+---------------------------------+
| France | 0176 728 973 | 0176 728 973 |
+-------------------+----------------------+---------------------------------+
| Germany | 0692 222 4956 | 0692 222 4956 |
+-------------------+----------------------+---------------------------------+
| UK | +44 (0) 1452 561 488 | +44 (0) 1452 561 488 |
+-------------------+----------------------+---------------------------------+
| Japan | 0053 112 2150 | 0053 112 2150 |
+-------------------+----------------------+---------------------------------+
| China North | 1080 074 413 74 | 1080 074 413 74 |
+-------------------+----------------------+---------------------------------+
| China South | 1080 044 111 98 | 1080 044 111 98 |
+-------------------+----------------------+---------------------------------+
| USA | 1 877 328 4999 | 1 877 328 4999 |
+-------------------+----------------------+---------------------------------+
| Canada | 1 866 992 3610 | 1 866 992 3610 |
+-------------------+----------------------+---------------------------------+
| Rest of the world | +44 (0) 1452 561 488 | +44 (0) 1452 561 488 |
+-------------------+----------------------+---------------------------------+
| Pin Code: | 15850034 | 15572148 |
+-------------------+----------------------+---------------------------------+

To access the live audio Webcast streaming, please follow the below link:

Media                                                  http://gaia.world-
television.com/barry-callebaut/20101104/media/
Analyst/Institutional Investors     http://gaia.world-television.com/barry-
callebaut/20101104/analyst/

Participants are advised to log on to the web cast and register their details
10 minutes prior to its commencement. A slight delay between the phone
conference and the audio Webcast changeover may be experienced. You may
therefore want to download your own copy of the presentation from our website.



A playback of the conference will be available 1.5 hours after the conferences.
The phone conference replays will be available for one month, accessible under:

+----------------------+------------------------+------------------------------+
|  |Media |Analyst/Institutional |
| | |Investors |
+----------------------+------------------------+------------------------------+
|International Dial-in |(+44) (0) 1452 55 00 00 |(+44) (0) 1452 55 00 00 |
+----------------------+------------------------+------------------------------+
|USA Dial-in |1 866 247 4222 |1 866 247 4222 |
+----------------------+------------------------+------------------------------+
|Pin code |15850034 followed by the|15572148 followed by the # |
| |# sign |sign |
+----------------------+------------------------+------------------------------+



The Webcast replays will be available for three months, accessible as follows:

Media                                                  http://gaia.world-
television.com/barry-callebaut/20101104/media/
Analyst/Institutional Investors     http://gaia.world-television.com/barry-
callebaut/20101104/analyst/

All details can also be found on the Barry Callebaut website (www.barry-
callebaut.com).

If you need assistance, please contact Ms Tamara Frey (phone: +41 43 204 0459 or
e-mail: tamara_frey@barry-callebaut.com).

  * * *

Key figures for the Barry Callebaut Group for fiscal year 2009/10   (audited)

+-----------------+-----+----------------------------+------------+------------+
|  |   | Change in % |  |  |
| | +--------------+-------------+ | |
| | | in local| in reporting|12 months up|12 months up|
| | | currencies| currency| to Aug| to Aug|
| | | | | 31, 2010| 31, 2009*|
+-----------------+-----+--------------+-------------+------------+------------+
| GROUP |   |  |  |  |  |
+-----------------+-----+--------------+-------------+------------+------------+
|   Sales volume | mt |  | 7.6%| 1,305,280| 1,213,610|
+-----------------+-----+--------------+-------------+------------+------------+
|   Sales |CHF m| 11.3%| 6.8%| 5,213.8| 4,880.2|
|revenue          | | | | | |
+-----------------+-----+--------------+-------------+------------+------------+
|EBITDA |CHF m| 5.8%| 3.2%| 470.7| 456.1|
+-----------------+-----+--------------+-------------+------------+------------+
| Operating profit|CHF m| 7.9%| 5.6%| 370.4| 350.8|
|(EBIT) | | | | | |
+-----------------+-----+--------------+-------------+------------+------------+
| Net profit for |CHF m| 13.5%| 10.9%| 251.7| 226.9|
|the year | | | | | |
+-----------------+-----+--------------+-------------+------------+------------+
|   |   |  |  |  |  |
+-----------------+-----+--------------+-------------+------------+------------+
| BY REGION |   |  |  |  |  |
+-----------------+-----+--------------+-------------+------------+------------+
|   Europe |   |  |  |  |  |
+-----------------+-----+--------------+-------------+------------+------------+
|   Sales volume | mt |  | 4.1%| 753,011| 723,099|
+-----------------+-----+--------------+-------------+------------+------------+
|   Sales |CHF m| 4.8%| (0.5%)| 3,042.0| 3,056.3|
|revenue          | | | | | |
+-----------------+-----+--------------+-------------+------------+------------+
|EBITDA |CHF m| 7.1%| 4.1%| 324.1| 311.4|
+-----------------+-----+--------------+-------------+------------+------------+
| Operating profit|CHF m| 8.3%| 6.3%| 268.7| 252.7|
|(EBIT) | | | | | |
+-----------------+-----+--------------+-------------+------------+------------+
|     |   |  |  |  |  |
+-----------------+-----+--------------+-------------+------------+------------+
|   Americas |   |  |  |  |  |
+-----------------+-----+--------------+-------------+------------+------------+
|   Sales volume | mt |  | 15.6%| 291,399| 252,159|
+-----------------+-----+--------------+-------------+------------+------------+
|   Sales |CHF m| 15.7%| 10.8%| 998.2| 901.1|
|revenue          | | | | | |
+-----------------+-----+--------------+-------------+------------+------------+
|EBITDA |CHF m| 7.0%| 7.1%| 108.1| 100.9|
+-----------------+-----+--------------+-------------+------------+------------+
| Operating profit|CHF m| 6.3%| 7.2%| 92.5| 86.3|
|(EBIT) | | | | | |
+-----------------+-----+--------------+-------------+------------+------------+
|     |   |  |  |  |  |
+-----------------+-----+--------------+-------------+------------+------------+
|   Asia-Pacific |   |  |  |  |  |
+-----------------+-----+--------------+-------------+------------+------------+
|   Sales volume | mt |  | 15.5%| 47,984| 41,544|
+-----------------+-----+--------------+-------------+------------+------------+
|   Sales |CHF m| 23.2%| 21.4%| 211.1| 173.9|
|revenue          | | | | | |
+-----------------+-----+--------------+-------------+------------+------------+
|EBITDA |CHF m| (26.3%)| (27.5%)| 26.2| 36.1|
+-----------------+-----+--------------+-------------+------------+------------+
| Operating profit|CHF m| (27.4%)(1)| (28.4%)(1)| 20.9| 29.2|
|(EBIT) | | | | | |
+-----------------+-----+--------------+-------------+------------+------------+
|     |   |  |  |  |  |
+-----------------+-----+--------------+-------------+------------+------------+
|   Global |   |  |  |  |  |
|Sourcing & Cocoa | | | | | |
+-----------------+-----+--------------+-------------+------------+------------+
|   Sales volume | mt |  | 8.2%| 212,886| 196,808|
+-----------------+-----+--------------+-------------+------------+------------+
|   Sales |CHF m| 29.9%| 28.5%| 962.5| 748.9|
|revenue          | | | | | |
+-----------------+-----+--------------+-------------+------------+------------+
|EBITDA |CHF m| 5.8%| 3.6%| 75.2| 72.6|
+-----------------+-----+--------------+-------------+------------+------------+
| Operating profit|CHF m| 5.4%| 3.9%| 54.5| 52.5|
|(EBIT) | | | | | |
+-----------------+-----+--------------+-------------+------------+------------+

* Certain comparatives have been restated to conform with the current period's
presentation
( )(1)+87.6% in local currencies (+85.0% in CHF) excl. the one-off gain on the
disposal of the Asian consumer business in the prior year

+-------------------+-----+--------------------------+------------+------------+
|  |   | Change in % |  |  |
| | +-------------+------------+ | |
| | | in local|in reporting|12 months up|12 months up|
| | | currencies| currency| to Aug| to Aug|
| | | | | 31, 2010| 31, 2009*|
+-------------------+-----+-------------+------------+------------+------------+
| BY PRODUCT GROUP |   |  |  |  |  |
+-------------------+-----+-------------+------------+------------+------------+
|     |   |  |  |  |  |
+-------------------+-----+-------------+------------+------------+------------+
|Industrial Products|   |  |  |  |  |
+-------------------+-----+-------------+------------+------------+------------+
|Sales volume | mt |  | 8.3%| 1,043,735| 963,858|
+-------------------+-----+-------------+------------+------------+------------+
|    Cocoa Products | mt |  | 8.2%| 212,886| 196,808|
+-------------------+-----+-------------+------------+------------+------------+
|     Food | mt |  | 8.3%| 830,849| 767,050|
|Manufacturers    | | | | | |
|Products | | | | | |
+-------------------+-----+-------------+------------+------------+------------+
|Sales revenue |CHF m| 14.1%| 9.7%| 3,679.2| 3,354.5|
+-------------------+-----+-------------+------------+------------+------------+
|    Cocoa Products |CHF m| 29.9%| 28.5%| 962.5| 748.9|
+-------------------+-----+-------------+------------+------------+------------+
|  Food |CHF m| 9.6%| 4.3%| 2,716.7| 2,605.6|
|Manufacturers | | | | | |
|Products | | | | | |
+-------------------+-----+-------------+------------+------------+------------+
|EBITDA |CHF m| 6.1%| 4.4%| 350.5| 335.8|
+-------------------+-----+-------------+------------+------------+------------+
|Operating profit |CHF m| 7.5%| 6.3%| 290.6| 273.5|
|(EBIT) | | | | | |
+-------------------+-----+-------------+------------+------------+------------+
|  |   |  |  |  |  |
+-------------------+-----+-------------+------------+------------+------------+
|Food Service / |   |  |  |  |  |
|Retail Products | | | | | |
+-------------------+-----+-------------+------------+------------+------------+
|Sales volume | mt |  | 4.7%| 261,545| 249,752|
+-------------------+-----+-------------+------------+------------+------------+
|     Gourmet & | mt |  | 17.3%| 133,048| 113,466|
|Specialties | | | | | |
|Products | | | | | |
+-------------------+-----+-------------+------------+------------+------------+
|    Consumer | mt |  | (5.7%)| 128,497| 136,286|
|Products | | | | | |
+-------------------+-----+-------------+------------+------------+------------+
|Sales revenue |CHF m| 5.1%| 0.6%| 1,534.6| 1,525.7|
+-------------------+-----+-------------+------------+------------+------------+
|     Gourmet & |CHF m| 19.4%| 14.3%| 707.6| 619.0|
|Specialties | | | | | |
|Products | | | | | |
+-------------------+-----+-------------+------------+------------+------------+
|    Consumer |CHF m| (4.6)%| (8.8%)| 827.0| 906.7|
|Products | | | | | |
+-------------------+-----+-------------+------------+------------+------------+
|EBITDA |CHF m| 1.8%| (1.1%)| 183.1| 185.2|
+-------------------+-----+-------------+------------+------------+------------+
|Operating profit |CHF m| 1.9%(1)| (0.8%)(1)| 146.0| 147.2|
|(EBIT) | | | | | |
+-------------------+-----+-------------+------------+------------+------------+

* Certain comparatives have been restated to conform with the current period's
presentation

(1)+16.0% in local currencies (+12.9% in CHF) excl. the one-off gain on the
disposal of the Asian consumer business in the prior year


--------------------------------------------------------------------------------

[1] Four-year growth targets for 2009/10-2012/13: on average 6-8% volume growth
and average EBIT growth in local currencies at least in line with volume growth,
barring any major unforeseen event

[2] The "combined cocoa ratio" is the combined sales price for cocoa butter and
cocoa powder relative to the cocoa bean price

[3] Source: Nielsen, September 2009 - August 2010

[4] Source: The World Bank, summer 2010

[5] Please note that the figures reported under "Global Sourcing & Cocoa"
include all sales of cocoa products (also called "semi-finished products") to
third-party customers in all regions while the figures shown under the
respective region show all chocolate sales.



The complete news release can be downloaded from the following link:





[HUG#1458803]



--- End of Message ---

Barry Callebaut AG
P.O. Box Zurich null

WKN: 914661;ISIN: CH0009002962;

Press Release (PDF):
http://hugin.info/100441/R/1458803/398312.pdf




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Source: Barry Callebaut AG via Thomson Reuters ONE
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Author:
Hugin
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