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Feld joined BC from Jacobs Holdings, where he also served as Managing Director. Prior to that, he was president of the market research firm Gfk. Feld has more than 30 years of experience in advancing global consumer goods and services companies.
As the announcement continues, previous CEO Peter Boone is stepping down for “personal reasons”.
At the same time, the company also released its six-month figures. In the first half of the 2022/23 season (as of the end of February), BC sold less chocolate than in the previous year. The amount of chocolate sold decreased by 2.9 percent.
Overall, sales volume in the September-February period was 1131 kilotonnes, after 1165 kilotons in the same period last year. However, given that sales volume fell 5.1 percent in the first quarter (September-November), the company has already rebounded in the second quarter. BC also underlines in the announcement that sales volume fell by only 0.5 percent in the second quarter.
However, it is no longer sufficient to meet our own average three-year goals. The target was an average volume growth of 5 to 7 percent from 2021 to 2023 (as of the end of August). However, according to experts, 5.5 percent growth was required for the whole year to achieve this. As BC wrote in the statement, sales volume for the year as a whole will likely grow “moderately” at most, or even remain flat.
Despite low sales volume, sales in local currency increased by 7.9 percent to 4.2 billion francs. In the Swiss franc, the increase was 3.7 percent. According to the announcement, this was primarily due to the favorable product mix as well as the high raw material prices and inflationary environment, which Barry Callebaut was able to counter well with his cost-plus pricing model.
At the enterprise level (EBIT), profit of 318.1 million in the previous year was 348.4 million. As a result, net profit of 234.3 million francs was slightly higher than 224.8 million in the previous year. On average, analysts had expected slightly more volume, but lower profits.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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