Barry Callebaut has reported its 9-month key sales figures. Sales volume was up +2.8%, driven by strong above-market growth in chocolate of +4.7%; sales revenue was up +2.9% in local currencies (+3.7% in CHF); and acceleration of volume growth in Q3 was +5.5%, supported by the key growth drivers Gourmet & Specialties, Outsourcing and Emerging Markets

“Thanks to our healthy chocolate portfolio, we maintained good volume growth momentum and managed to outperform the market once again,” said Antoine de Saint-Affrique, CEO of the Barry Callebaut Group. “We continue to consistently execute our ‘smart growth’ strategy.”

“’Smart growth’ will continue to be at the heart of our strategy execution. This means driving above-market volume growth, enhanced profitability and free cash flow generation. The phase-out of less profitable cocoa contracts is now completed; we continue to see a healthy portfolio and expect the good momentum to remain. On this basis we confirm our mid-term guidance.”

Chocolate confectionery markets in Europe in the period under review showed, according to Nielsen, a decline of -0.9%, but grew +0.9% in the last 3 months.

Sales volume of Barry Callebaut in Region EMEA (Europe, Middle East, Africa) increased by +5.3% to 643,092 tonnes, supported by the ramp-up of the new long-term agreement in Belgium with Mondelez International and the additional volume from the Friesland Campina Beverages acquisition in March 2016. Other customers in Western Europe and in particular Gourmet & Specialties also performed well.

Sales revenue increased by +6.9% in local currencies (+5.8% in CHF) to CHF 2,176.1 million.

America’s chocolate confectionery market rebounded during the last quarter by +4.7%, resulting in flat volume growth of -0.6% for the last 9 months.

In Region Americas, Barry Callebaut’s sales volume growth was up +1.8% to 380,362 tonnes, with an acceleration in Q3 (+4.8%), driven by strong sales in Gourmet & Specialties, and double-digit growth in South America, while the North American market remains challenging.

Sales revenue was up +3.7% in local currencies (+5.4% in CHF) and came in at CHF 1,270.3 million.

Chocolate confectionery markets in Asia Pacific continued the positive growth path and recorded volume growth of +2.1% for the period under review, and +5.3% for the last three months3

Barry Callebaut’s sales volume in Region Asia Pacific increased by +17.2% to 69,313 tonnes. Growth was fueled by Food Manufacturers, including the long-term outsourcing deal with GarudaFood. Volume increase was also driven by strong double-digit growth in Gourmet & Specialties.

Sales revenue grew by +12.7% in local currencies (+14.7% in CHF) to CHF 267.1 million.

Global Cocoa volume decreased by -3.3% to 321,887 tonnes. After concluding the intentional phase-out of less profitable contracts, volume in Q3 was at the prior-year level, as anticipated. The Cocoa Leadership program is progressing according to plan and is expected to be finalized in 2018.

Sales revenue was down -4.7% in local currencies (-2.1% in CHF) to CHF 1,480.0 million. This is broadly in line with sales volume and resulting from the lower cocoa products prices.