Emily McCracken
"Because of extraordinary market circumstances," the firm anticipates a sales drop of around 7% for the 2024/25 fiscal year, concluding in August, as stated in its report. Simultaneously, a rise in EBIT of 5-9% is expected.
Based on the outcomes of the nine months of the financial year (October-May), sales fell by 6.3% relative to the same timeframe the previous year - totaling 1.602 million tons. During the third financial quarter, they declined by 9.5%, primarily because of poor results in North America.
Revenue for the nine-month period rose by 49.5% - reaching 10.947 billion francs.
Barry Callebaut's stock dropped over 15% during trading on Thursday. The market capitalization of the company has decreased by nearly 43% in the last year (to 5.2 billion francs), whereas the Swiss stock index SMI has declined by just 1.4%.
In April 2024, cocoa futures in London reached a high of approximately 10 thousand pounds per tonne due to factors like unfavorable weather and crop diseases. Since that time, prices have dropped to an eight-month low of approximately 5,455 pounds per tone.
source: reuters.com
Based on the outcomes of the nine months of the financial year (October-May), sales fell by 6.3% relative to the same timeframe the previous year - totaling 1.602 million tons. During the third financial quarter, they declined by 9.5%, primarily because of poor results in North America.
Revenue for the nine-month period rose by 49.5% - reaching 10.947 billion francs.
Barry Callebaut's stock dropped over 15% during trading on Thursday. The market capitalization of the company has decreased by nearly 43% in the last year (to 5.2 billion francs), whereas the Swiss stock index SMI has declined by just 1.4%.
In April 2024, cocoa futures in London reached a high of approximately 10 thousand pounds per tonne due to factors like unfavorable weather and crop diseases. Since that time, prices have dropped to an eight-month low of approximately 5,455 pounds per tone.
source: reuters.com
