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Ferrero, strong growth in 2020 despite Covid

Consolidated turnover of € 12.3 billion (+7.8%), with investments of € 619 million

Ferrero International SA, the parent company of the Ferrero Group, closed the financial year at 31 August 2020 with a consolidated turnover of 12.3 billion euros, an increase of +7.8% compared to the previous year, which had recorded a consolidated result of 11.4 billion euros. "Despite the uncertainties caused by COVID-19, explains a note, the Ferrero Group has been able to successfully manage the challenges even in the pandemic context. Always putting the health and safety of employees and consumers first, the Group has demonstrating agility and resilience in ensuring operational continuity and the usual presence of its products on the market to satisfy consumers. This not only to safeguard the Group's activities, but also the entire food chain". 

The Group, of which Giovanni Ferrero is Executive Chairman and Lapo Civiletti Ceo, has seen sales of finished products grow mainly thanks to the contribution of the United States, Germany, France and Italy, and sales of the products of some iconic brands such as Nutella, Kinder Bueno and fresh products. The results were also contributed by the launch of new products such as Nutella Biscuits on the Italian market, and the first year of complete integration into the Group's consolidated financial statements of products such as Keebler in the USA, following the acquisition of the Kellogg Company biscuits business, at the end of fiscal year 2018/2019. Organic growth (excluding the impact of business combinations) would be + 1.5% at current exchange rates. 

At the close of the financial statements, the Group consisted of 105 consolidated companies worldwide and 31 production plants. The Ferrero Group products are present directly, or through authorized distributors, in over 170 countries. The group's staff at 31 August 2020 amounted to 37,122 employees, an increase compared to 36,372 at 31 August 2019. 

The Group has supported its technological development strategy by expanding its production capacity, with total investments of 619 million euros. The most significant part of the total amount of investments was focused on property, plant and equipment (534 million euros) mainly in Italy, Germany, the United States and Poland.

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EFA News - European Food Agency
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