Barry Callebaut : Short Report 2021/22 - EN

SHORTREPORT

2021

22

Creating chocolate happiness one joyous moment at a time.

Barry Callebaut is the world's leading chocolate and cocoa manufacturer, mastering every step from the sourcing of raw materials

to production of the finest quality products.

For the online version of the report, go to: www.barry-callebaut.com/annual-report

Barry Callebaut | Short Report 2021/22

Key figures

					Change in %
					in local
for the fiscal year				currencies	in CHF	2021/22		2020/21
	Sales volume		Tonnes				5.3%		2,306,681		2,191,572
	Sales revenue		CHF m		14.6%		12.3%		8,091.9		7,207.6
	Gross profit		CHF m		8.4%		6.1%		1,217.2		1,147.2
	Operating profit (EBIT)		CHF m		0.1%		(2.3)%		553.5		566.7
	Operating profit (EBIT, recurring)1		CHF m		13.5%		10.2%		624.7		566.7
	EBIT (recurring)1 per tonne		CHF		7.8%		4.7%		270.8		258.6
Net profit for the year		CHF m		(4.7)%		(6.1)%		360.9		384.5
Net profit for the year (recurring)1		CHF m		14.1%		11.4%		428.5		384.5
Free cash flow		CHF m						266.2		355.0
Adjusted Free cash flow2		CHF m						358.5		314.9

Sales volume

In tonnes

EBIT reported

In CHF million

2,400,000
2,000,000
1,600,000
1,200,000
800,000
400,000
0
2017/18	2018/19	2019/20	2020/21	2021/22

Sales volume by Region

In tonnes

	20%
7%	45%
	28%

700
600
500
400
300
200
100
0
2017/18	2018/19	2019/20	2020/21	2021/22

EBIT recurring1

Sales volume by Product Group

In tonnes

20%

13%

67%

EMEA	1,040,018		Cocoa Products	456,970
Americas	649,389		Food Manufacturers	1,550,019
Asia Pacific	160,304		Gourmet & Specialties	299,692
Global Cocoa	456,970

1. Please refer to page 12 for the detailed recurring results reconciliation.
2. Free cash fl ow adjusted for the cash fl ow impact of cocoa bean inventories regarded by the Group as readily marketable inventories (RMI)..

Barry Callebaut | Short Report 2021/22

Fiscal year 2021/22 in brief

• Sales volume up +5.3%, with solid chocolate performance (+5.9%)
• Sales revenue of CHF 8.1billion, up +14.6% in local currencies (+12.3% in CHF)
• Operating profit (EBIT) recurring1 of CHF 624.7 million, up +13.5% in local currencies (+10.2% in CHF). EBIT reported of CHF 553.5 million, up +0.1% in local currencies (-2.3% in CHF)
• Net profit recurring1 of CHF 428.5million, up +14.1% in local currencies (+11.4% in CHF). Net profit reported of CHF 360.9 million, down -4.7% in local currencies (-6.1% in CHF)
• Continued good cash generation with adjusted free cash flow2 of CHF358.5million
• On track to achieve mid-term guidance3
• Thomas Intrator proposed as new member of the Board of Directors
• Proposed stable dividend of CHF28.00 per share, a payout ratio of 43%

		EMEA		Americas	Asia Pacific	Global Cocoa
Volume growth		+4.3%		+6.4%	+15.8%	+2.5%
vs. prior year
EBIT (recurring)1 growth		+10.5%		+14.8%	+2.9%	+7.5%
vs. prior year in local currencies

1. Please refer to page 12 for the detailed recurring results reconciliation.
2. Free cash flow adjusted for the cash flow impact of cocoa bean inventories regarded by the Group as readily marketable inventories (RMI).
3. On average for the 3-year period from 2020/21 to 2022/23: 5-7% volume growth and EBIT above volume growth in local currencies, barring any major unforeseeable events.

Barry Callebaut | Short Report 2021/22

Page 1

Highlights

August 2022

Office and CHOCOLATE ACADEMYTM Center relocated to the heart of Shanghai, China Sustainalytics ranks Barry Callebaut #1 for management of ESG risks

June 2022

Long-term distribution agreement with Levapan to expand in Latin America

May 2022

Barry Callebaut establishes a state-of-the-art cocoa export facility in Ecuador New CHOCOLATE ACADEMYTM Center in Casablanca, Morocco

Opening of new Business Excellence Center in Asia Pacific

April 2022

Barry Callebaut to build specialty chocolate factory in Brantford, Canada Grupo Bimbo and Barry Callebaut extend strategic supply agreement

March 2022

Expansion of chocolate factory completed in Campbellfield, Australia

February 2022

Barry Callebaut recognized as Supplier Engagement Leader by CDP Launch of Callebaut NXT, 100% plant-based chocolate

November 2021

The global decoration brand Mona Lisa expands to Mexico, its 50th market globally

October 2021

Chocolate factory inaugurated in Novi Sad, Serbia

Barry Callebaut unveils Elix, the first nutraceutical fruit drink

The world's largest and most sustainable chocolate warehouse inaugurated in Lokeren, Belgium

September 2021

Hershey and Barry Callebaut extend strategic supply agreement

Please also refer to www.barry-callebaut.com/history