Nutella Owner Posts 6.2% YOY Turnover In FY 2019 Results
Gruppo Ferrero has reported a consolidated turnover of around €11.4 billion, up 6.2% year-on-year, in its financial year ended 31 August 2019. The company generated almost €8.1 billion of its total...
Gruppo Ferrero has reported a consolidated turnover of around €11.4 billion, up 6.2% year-on-year, in its financial year ended 31 August 2019.
The company generated almost €8.1 billion of its total turnover in Europe, driven by strong performance in Germany and France.
In non-European markets, the confectioner's turnover amounted to approximately €3.3 billion, with the US as a top performer.
Growth was mainly driven by Nutella, Ferrero Rocher, Kinder Bueno, as well as new products such as Nutella Biscuits and Kinder Cards, which were launched in some markets.
The sales data for Nutella Biscuits only includes the period between May to August 2019, when the product was only sold in France, the report showed.
The multinational confectionery company saw profits increase by 4.3% to €703 million, with a profit margin of 6.2%.
The group invested €663 million in expanding its production capacity and installing new equipment, mainly in Italy, Germany, Canada, Poland, Belgium.
It also completed the construction of its new headquarters in Luxembourg.
Last year, Ferrero also finalised the acquisition of a portfolio of biscuit brands from Kellogg Company, including Keebler, Famous Amos, Mother's, Murray and Little Brownie Bakers.
It also acquired a majority stake in Spain’s Ice Cream Factory Comaker (ICFC).
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