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Ferrero Group Shines in 2023/2024 Financial Year

The Ferrero Group, through its holding company Ferrero International S.A., recently shared significant growth results for the financial year 2023/2024, which concluded on August 31, 2024. This reports a consolidated turnover of EUR18.4 billion, reflecting an impressive 8.9% increase from the previous year. Such results illustrate Ferrero's strategic focus on innovation, resilience, and market adaptation, led by Executive Chairman Giovanni Ferrero and CEO Lapo Civiletti.

During the reporting period, the global economy presented various challenges, including fluctuating commodity prices and persistent inflationary pressures. Despite these obstacles, Ferrero managed to achieve strong growth, showcasing the strength of its product offerings and the robust business model it operates under. As of the end of the financial year, Ferrero boasted 37 manufacturing plants worldwide and a workforce of 47,517 employees, highlighting its vast operational scope.

Daniel Martinez Carretero, the CFO of the Ferrero Group, expressed satisfaction over these results, stating, "Another year of strong growth, despite continued headwinds, shows our products' resilience in challenging conditions. Our innovation approach continues to adapt to changing consumer demands, driving our growth forward."

This financial year also saw Ferrero's commitment to expansion, with total capital investments rising by 18% to EUR958 million. This funding not only supports product innovation but also strengthens their manufacturing capabilities globally.

Notable Innovations this Year

Ferrero's ongoing dedication to product innovation has paved the way for impressive entries in various market categories. Key highlights from the financial year include:

• - Nutella Ice Cream: Launched as the first packaged ice cream product from the popular Nutella brand, capitalizing on its loyal consumer base and marking the brand's 60th anniversary.
• - Kinderini: A new biscuit product that caters to the growing demand for convenient and delicious snack options, launching in several key markets.
• - Further market expansion for Eat Natural and FULFIL brands, focusing on the better-for-you segment and adapting to evolving consumer preferences keen on healthier choices.

Manufacturing Capacity Enhancement

To complement its product diversification, Ferrero has also been working diligently on enhancing its manufacturing capacities.

• - The Group inaugurated its first chocolate processing facility in the United States, located in Bloomington, Illinois. This new state-of-the-art factory covers 70,000 square feet and produces chocolate for leading brands such as Kinder and Ferrero Rocher, alongside a dedicated Kinder Bueno production area.
• - Improvements were made at the existing Stadtallendorf facility, enhancing the overall efficiency and productivity of operations.
• - Expansion of hazelnut sourcing and processing capabilities in Chile, critical for Ferrero's key ingredient supply chain.

Long-Term Vision and Sustainability Commitment

Ferrero's approach goes beyond just financial outcomes. The group remains steadfast in its long-term growth strategy, which is intrinsically linked to sustainability and creating a positive impact across the value chain. The company is committed to ensuring their operations maintain a focus on responsible sourcing, environmentally-friendly practices, and social responsibility.

Founded in 1946 as a pastry shop in Alba, Piedmont, Italy, Ferrero has evolved into one of the largest confectionery companies globally, with beloved brands such as Nutella®, Kinder®, Tic Tac®, and Ferrero Rocher® available in over 170 countries. Today, Ferrero employs over 47,000 passionate professionals who contribute to celebrating life's special moments. The firm’s culture, anchored in quality, heritage, and community impact, continues to thrive across generations.

For more detailed company news and updates, Ferrero encourages interested parties to subscribe to their newsletter and visit Ferrero's official website.