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Barry Callebaut AG (VTX:BARN) * Sales volumes rose 10.1% to 1,166,007 tonnes * Sales revenue increased strongly by 17.3% to CHF 4,815.4 million, as a result of higher volumes and higher raw material prices * Operating profit (EBIT) up 5.3% to CHF 341.1 million, acceleration in second semester compared to the same prior-year period * Net profit for the year, incl. discontinued operations, up 65.6% to CHF 205.5 million, net profit from continuing operations rose 1.0% to CHF 209.1 million * Four-year financial targets[1] 2007/08 through 2010/11 confirmed * Board of Directors proposes capital repayment of CHF 11.50 per share * James 'Jim' L. Donald, former President and CEO of Starbucks Corporation, proposed for election to the Board
Zurich/Switzerland, November 6, 2008 - Barry Callebaut AG, the world's leading manufacturer of high-quality cocoa and chocolate products, has successfully continued its dynamic growth in fiscal year 2007/08 ended August 31, 2008. Sales volumes rose 10.1% to 1,166,007 tonnes, driven by additional business with existing and new customers. Sales revenue increased strongly by 17.3% to CHF 4,815.4 million, mostly due to higher volumes and partly due to higher raw material prices. Excluding cocoa price and exchange rate effects, sales revenue rose 14.3%. As communicated in April 2008, the factors that slowed EBIT growth in the first semester did not reoccur. As a result of this and ongoing cost saving programs, EBIT growth accelerated in the second semester. For the fiscal year as a whole, operating profit (EBIT) rose 5.3% to CHF 341.1 million. Net profit for the year, including discontinued operations, increased 65.6% to CHF 205.5 million. Net profit from continuing operations rose by 1.0% to CHF 209.1 million. A loss on the sale of financial assets and higher financial expenses had a negative impact on net profit in fiscal year 2007/08.
[1] Growth targets on average for 2007/08 - 2010/11: Volumes: 9-11%, EBIT: 11-14%, net profit 13-16%
Contacts for the media: for investors and financial analysts: Simone Lalive d'Epinay, Head of IR Josiane Kremer, Corp. Communications Barry Callebaut AG Barry Callebaut AG Phone: +41 43 204 04 23 Phone: +41 43 204 04 58 simone_lalive@barry-callebaut.com josiane_kremer@barry-callebaut.com
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