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Ferrero Group's Financial Year Highlights

On February 13, 2025, the Ferrero Group, through Ferrero International S.A., revealed its Consolidated Financial Statements for the fiscal year 2023/2024, which concluded on August 31, 2024. The Group’s turnover experienced a remarkable increase of 8.9%, reaching EUR 18.4 billion. This growth is attributed to the strategic guidance of Executive Chairman Giovanni Ferrero and the adept execution by CEO Lapo Civiletti.

Resilience Amid Challenges

The past financial year presented not only opportunities but also challenges, notably with fluctuating commodity prices and persistent inflationary dynamics. Nevertheless, the Ferrero Group’s ability to adapt and maintain impressive growth underscores the strength of its workforce, brand recognition, and robust business model. The company continues to uphold its global presence, boasting 37 manufacturing plants and a dedicated workforce that amounted to 47,517 by the end of the fiscal year.

According to Daniel Martinez Carretero, CFO of Ferrero Group, the company is proud of its continuous success despite the industry obstacles. He remarked, "Our brands and products continue to perform well... This is testament to the way we continue to innovate our products to meet the changing needs of consumers."

Investment in Innovation

A key driver behind the group's robust performance is its commitment to product innovation. The 2023/2024 financial year saw an 18% increase in total capital investment, amounting to EUR 958 million. This investment not only supports innovation but also enhances manufacturing capabilities. Noteworthy launches included:

• - Nutella Ice Cream: This marked the brand’s inaugural entry into packaged ice cream, accelerating growth in the ice cream category.
• - Kinderini: A new biscuit offering was introduced in key markets, expanding further into the biscuit sector.
• - Eat Natural and FULFIL Brands: These brands were successfully rolled out to additional European markets, focusing on healthier consumer trends.

Expanding Production Capacity

To facilitate this expanded product range and geographical reach, Ferrero is actively enhancing its manufacturing capacities. Significant developments include:

• - The inauguration of the first chocolate processing plant in the United States, located in Bloomington, Illinois. This facility spans 70,000 square feet and primarily produces chocolate for beloved brands like Kinder, Ferrero Rocher, Butterfinger, and CRUNCH. Additionally, it incorporates a new production line for Kinder Bueno.
• - Modernization efforts at the Stadtallendorf facility ensure that operational efficiencies and product quality are upheld.
• - Enhancements to hazelnut sourcing and processing capabilities in Chile bolster the Group’s supply chain.

Commitment to Sustainability

The Ferrero Group remains steadfast in its long-term growth strategy, which is intricately linked to its dedication to sustainability and positive social impact throughout its value chain. The company’s journey began in 1946 when it started as a quaint pastry shop in Alba, Piedmont, Italy. Today, it proudly stands as one of the foremost sweet-packaged food enterprises globally, with products that resonate with consumers in over 170 countries.

With respected brands like Nutella®, Kinder®, Tic Tac®, and Ferrero Rocher®, around 47,000 employees share the common goal of helping individuals celebrate life’s special moments. The Group’s family-centric culture, now in its third generation, emphasizes quality, excellence, heritage, environmental stewardship, and community commitment. For those wishing to keep informed, Ferrero provides updates through their newsletter accessible on their website.

For further insights into their operations and practices, please visit www.ferrero.com.