Ferrero International S.A., the parent company of Ferrero Group, has reported a turnover of €14 billion for the financial year ended 31 August 2022, registering an annual increase of 10.4%.
Ferrero's home market of Italy accounted for sales of €1.6 billion in this period, up 6.6% year-on-year.
The confectionery group highlighted that it managed to achieve growth in the fiscal year 2021/2022 despite ‘a challenging economic and geopolitical environment.’
The company's iconic brands, such as Nutella, Ferrero Rocher, Kinder Bueno and Kinder Joy, achieved net sales growth, driven by good performance in the US and Italian markets, it noted, while its market shares consolidated in most of the regions.
Last June, the Ferrero Group finalised the acquisition of vitamin and protein bar company Fulfil Nutrition, as part of its strategy to expand in the 'better-for-you' market segment.
Fulfil Nutrition has direct sales in the UK and a distribution network in Ireland, as well as other European and Asia Pacific markets.
The results do not include several recent acquisitions, such as US ice cream manufacturer Wells Enterprises and Italian frozen bakery producer Fresystem.
The Ferrero Group continued to increase investments in its iconic brands and strengthen its internal R&D processes.
The company expanded its production capacity during the financial year, investing €830 million, mainly in property, plant and equipment (€733 million), for its facilities in Italy, the USA, Germany and Poland.
Ferrero International operates 109 companies and 32 manufacturing plants worldwide, selling directly and via distributors in over 170 countries.
© 2023 European Supermarket Magazine – your source for the latest A-Brands news. Article by Branislav Pekic. Click subscribe to sign up to ESM: European Supermarket Magazine.