Barry Callebaut: first-time application of IFRS 8 ('Operating Segments') incl. previous year's restated figures

Barry Callebaut AG will announce its key sales figures for the first three months of fiscal year 2009/10, ended November 30, 2009, on January 13, 2010.

In this respect Barry Callebaut informs that its reporting structure has been adapted as from 2009/10 onwards, as a consequence of the first-time application of IFRS 8 (“Operating Segments”). This standard requires that the reported operating segments correspond to the internal management reporting used by the chief operating decision maker. Accordingly, Barry Callebaut reports by Region. The globally managed “Global Sourcing & Cocoa” business is reported as a separate operating segment like a Region. The adjusted reporting structure will be as follows:
 

Operating Segments defined by Region; the globally managed “Global Sourcing & Cocoa” business is reported like a Region:

• Figures reported under “Global Sourcing & Cocoa” include all sales of cocoa products (also called “semi-finished products”) to third-party customers in all regions
• Figures shown under the Regions Europe, Americas, and Asia-Pacific show all chocolate sales in the respective region (Food Manufacturer Products, Gourmet & Specialties Products, Consumer Products)   

Additional information on third-party sales volume and revenue is provided for the most relevant product groups:

• Global Sourcing & Cocoa (worldwide sales of cocoa products)
• Food Manufacturer Products (worldwide sales)
• Gourmet & Specialties Products (worldwide sales)
• Consumer Products (worldwide sales)

The product groups are basically unchanged compared to the previous Business Unit reporting view; differences to the figures published in 2008/09 result from a reclassification of certain Food Manufacturer Products into Consumer Products.

For comparison reasons, the Group’s previous year figures (2008/09) will also be presented in the new reporting structure for the comparable prior-year period. Barry Callebaut already provides these restated figures for the first quarter of fiscal year 2008/09 in the table below, in the same format in which the quarterly numbers will be released on January 13, 2010, at 7:00am CET.

Key sales figures for the first three months of fiscal year 2009/10 – PREVIOUS YEAR’S FIGURES ONLY

Barry Callebaut:
With annual sales of about CHF 4.9 billion for fiscal year 2008/09, Zurich-based Barry Callebaut is the world’s leading manufacturer of high-quality cocoa and chocolate – from the cocoa bean to the finished product on the store shelf. Barry Callebaut is present in 26 countries, operates about 40 production facilities and employs about 7,500 people. The company serves the entire food industry, from food manufacturers to professional users of chocolate (such as chocolatiers, pastry chefs or bakers), to global retailers. Barry Callebaut is the global leader in cocoa and chocolate innovations and provides a comprehensive range of services in the fields of product development, processing, training and marketing. The company is actively engaged in initiatives and projects that contribute to a more sustainable cocoa supply chain.