The Ferrero Group presents its consolidated financial statements for the financial year 2023/2024
The Ferrero Group continues its growth course with an increase in turnover of 8.9% to 18.4 billion euros.
The Ferrero Group, through its holding company Ferrero International S.A., has approved the consolidated financial statements for the financial year 2023/2024, which ended on August 31, 20241. The Group closed the financial year with consolidated revenue of EUR 18.4 billion, an increase of 8.9% on the previous year. It is thus continuing the growth strategy announced by Executive Chairman Giovanni Ferrero and implemented by chief executive officer Lapo Civiletti.
The 2023/2024 financial year was once again characterized by a challenging economic environment with volatile commodity prices and persistent inflationary pressure. Nevertheless, the Ferrero Group was able to continue its strong growth thanks to the resilience of its employees, brands and business model. Ferrero has 37 production sites worldwide and ended the financial year with a global workforce of 47,517 employees as of August 31, 2024.
Daniel Martinez Carretero, Chief Financial Officer of Ferrero Group, said: "We are pleased to report another strong year of growth for the Group, despite the ongoing headwinds facing the industry. Although the economic environment remains complex, our brands and products continue to perform well. This is testament to the fact that we are continuously evolving our products to meet the changing needs of consumers. To drive this innovation and increase our production capacity, we have increased total capital investment by 18% this financial year compared to the previous year."
The Group's continuous product innovation has enabled further expansion in various categories, including ice cream and cookies. Highlights of the 2023/2024 financial year include:
- the launch of Nutella Ice Cream, the brand's first packaged ice cream, driving the continued growth of the ice cream category;
- further expansion into the cookies category with the launch of Kinderini in key markets
- the successful launch of the Eat Natural and FULFIL brands in additional European markets, illustrating how the Group is responding to changing consumer trends and the growth of the better-for-you category.
To support the portfolio and geographic expansion, the Group is working hard to increase its production capacity. Highlights include:
- The opening of the Group's first chocolate processing facility in the United States. The new 6,500 square meter facility in Bloomington, Illinois, produces chocolate for leading Ferrero brands in North America, including Kinder, Ferrero Rocher, Butterfinger and CRUNCH, and now houses a new production facility for Kinder Bueno;
- Modernization of our production facility in Stadtallendorf;
- Expansion of our hazelnut sourcing and processing capacity in Chile.
The Group's long-term growth strategy continues to be guided by our commitment to sustainability and a positive impact throughout the value chain.
Note: This article has been translated using a computer system without human intervention. LUMITOS offers these automatic translations to present a wider range of current news. Since this article has been translated with automatic translation, it is possible that it contains errors in vocabulary, syntax or grammar. The original article in German can be found here.
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