Soaring cocoa prices hit Swiss chocolate maker Barry Callebaut

Barry Callebaut penalised by soaring cocoa prices Keystone-SDA

Swiss chocolate maker Barry Callebaut suffered from soaring cocoa prices in the first half of the 2024-2025 financial year.

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While sales volumes and profitability declined, the cocoa products manufacturer was able to boost its revenues by increasing its own prices.

Between September 2024 and February 2025, the price of cocoa beans soared by 95%, forcing the group to pass on this increase to its customers. While sales volumes fell by 4.7% year-on-year to 1.09 million tonnes, revenues jumped by 56.9% to CHF7.29 billion, according to a press release published on Thursday.

On the other hand, recurring operating profit (Ebit) fell by 2.9% to CHF329.6 million, while recurring net profit dropped by 70.6% to CHF63.5 million.

While sales exceeded the expectations of analysts polled by AWP, sales volumes and profitability missed the mark.

Management has confirmed that it is targeting savings of CHF250 million, 75% of which will be visible in the bottom line, through its BC Next Level efficiency programme. But these cost reductions will only be visible with a 12-month delay because of “a highly volatile market environment”, it added.

Translated from French with DeepL/mga

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