Short Report 2020/21 - EN

Barry Callebaut is the world's leading chocolate and cocoa manufacturer, mastering every step from the sourcing of the raw materials to the production of the finest quality products.

For the online version of the Annual Report, go to:

www.barry-callebaut.com/annual-report

Key figures

for the fiscal year									2020/21		2019/20
				Change in %
				in local	in CHF
				currencies
Sales volume		Tonnes					4.6%		2,191,572	2,095,982
Sales revenue		CHF m		8.7%			4.6%			7,207.6		6,893.1
Gross profit		CHF m		10.8%			7.9%			1,147.2		1,063.7
Operating profit (EBIT)		CHF m		20.8%			17.3%			566.7		483.2
Operating profit (EBIT, recurring)1		CHF m		18.9%			15.4%			566.7		491.0
EBIT (recurring)1 per tonne		CHF		13.7%			10.4%			258.6		234.2
Net profit for the year		CHF m		27.3%			23.4%			384.5		311.5
Net profit for the year (recurring)1		CHF m		24.2%			20.4%			384.5		319.3
Free cash flow		CHF m								355.0		317.0
Adjusted Free cash flow2		CHF m								314.9		403.8

1. Prior-yearOperating profit (EBIT) recurring and Net profit recurring.
2. Adjusted Free cash flow is adjusted for the cash flow impact of cocoa bean inventories regarded by the Group as readily marketable inventories.

Sales volume	EBIT
in tonnes	in CHF million
2'400'000	700
2'000'000	600
1'600'000	500
400
1'200'000
300
800'000
200
400'000
100
16/17 17/18 18/19 19/20 20/21	0
16/17	17/18	18/19	19/20	20/21

Sales volume by Region		Sales volume by Product Group
in tonnes		in tonnes	11%	20%
	20%
		46%
	6%
						69%
	28%		■ Food Manufacturers
■ EMEA	997,324	1,498,496
■	Americas	610,133	■	Cocoa Products	445,719
■	Asia Pacific	138,396	■	Gourmet & Specialties	247,357
■	Global Cocoa	445,719

Fiscal year 2020/21 in brief

• Sales volume up +4.6%, all Regions and Key growth drivers contributed
• Sales revenue of CHF 7.2 billion, up +8.7% in local currencies
• Operating profit (EBIT) up +18.9%1 in local currencies to CHF 566.7 million
• Net profit up +24.2%1 in local currencies to CHF 384.5 million
• Strong Free cash flow of CHF 355 million
• Confident on mid-term guidance2
• Antoine de Saint-Affrique proposed as new member of the Board of Directors
• Proposed dividend of CHF 28.00 per share, a payout ratio of 40%

	EMEA		Americas		Asia Pacific		Global Cocoa
Volume growth
+5.5%	+7.9%	+8.7%		-2.6%
vs. prior year
EBIT growth
+27.9%	+8.4%	+39.5%		-6.0%	1
vs. prior year

in local currencies

1. Compared to prior-year Operating profit (EBIT) recurring and Net profit recurring.
2. On average for the 3-year period 2020/21 to 2022/23: 5-7% volume growth and EBIT above volume growth in local currencies, barring any major unforeseeable events.

Highlights

October 2020

• New brand Cabosse Naturals offers pure cacaofruit ingredients

November 2020

• Opening of new office and CHOCOLATE ACADEMYTM Center in Shenzhen, China
• La Morella Nuts expands globally and opens Center of Expertise

January 2021

• Barry Callebaut launches #oneBC, its Diversity & Inclusion Strategy

February 2021

• Barry Callebaut recognized as Supplier Engagement Leader by CDP

March 2021

• Opening of new chocolate factory in Baramati, India
• Opening of dedicated dairy-free factory in Norderstedt, Germany

May 2021

• Van Houten launches first-ever ruby chocolate drink powder

June 2021

• Cacao Barry launches WholeFruit EvocaoTM chocolate
• Barry Callebaut to acquire Europe Chocolate Company in Belgium

July 2021

• Outsourcing agreement with Atlantic Stark in Serbia signed
• Barry Callebaut to open factory in Kaliningrad, Russia

August 2021

• Barry Callebaut is recognized as a leader in managing ESG risks for the 3rd consecutive year by Sustainalytics

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

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