Barry Callebaut grew volume and profit, but the company’s CEO is planning step down

The Barry Callebaut Group announced sales up 11.8 per cent and a strong profit growth EBIT up 21.4 per cent, net profit up 14.5 per cent, for fiscal year 2013/14 supported by emerging markets, Gourmet and outsourcing. 

In the same time, the company reported successful global integration of acquired cocoa business; profit contribution and synergies on track and mid-term financial targets  confirmed.

Juergen Steinemann, CEO of the Barry Callebaut Group, said: “We achieved another record year, both top and bottom-line. Our sales volume was boosted by the acquired cocoa business, and further supported by our three growth drivers – emerging markets, Gourmet and strategic partnerships. With 2.9% volume growth on a stand-alone basis, we grew faster than the global chocolate market. Over the last two years we have increased our focus on margin improvement. This has paid off, with EBIT and net profit growing at a double-digit rate. I am very pleased with the successful global integration of the acquired cocoa business as well as its profit contribution already in the first year.”

On the other hand, Steinemann, in his role since 2009, will step down at the end of fiscal year 2014/2015. Barry Callebaut is searching for his successor, but hopes to appoint Steinemann to its Board of Directors.

“I feel honored that the Board is proposing me as a new Board member and Vice Chairman, as this will allow me to continue to support the further growth of our great company, building on the entrepreneurial spirit, the passion and unique expertise of all my colleagues”, Steinemann said.