Ferrero Group Reports Impressive Growth for Financial Year 2023/24

Overview of Ferrero's Financial Results for 2023/24

On February 13, 2025, Ferrero Group announced its consolidated financial results for the 2023/24 fiscal year, which ended on August 31, 2024. The group demonstrated impressive growth with a revenue increase of 8.9%, bringing the total to €18.4 billion. This upward trend is attributed to the strategic leadership of Giovanni Ferrero, the Chairman, and Lapo Civiletti, the CEO.

Despite facing a challenging economic environment marked by fluctuating raw material prices and ongoing inflation, Ferrero's resilience shines through due to the commitment of its workforce, robust brand presence, and adaptive business model. As of August 31, 2024, the company operates 37 production facilities worldwide and employs over 47,500 people.

Revenue Growth and Investment

CFO Daniel Martinez Carretero expressed satisfaction with the results, highlighting the group's ability to navigate sector challenges while maintaining strong performance. Ferrero's increased capital investments of 18% from the previous year, totaling €958 million, reflect its dedication to innovation and production capacity enhancement. The ongoing evolution of Ferrero's product offerings proves their responsiveness to shifting consumer demands.

Noteworthy Product Launches

Among the year's significant developments was the launch of the first packaged ice cream variant featuring Nutella. This introduced an exciting new product in the ice cream sector. Besides, the expansion into the biscuit category was further complemented by the release of Kinderini in key markets. The success of the Eat Natural and FULFIL brands in European markets underscores Ferrero's engagement with