Jacobs Holding AG Annual Report 2010 (PDF, 3.7 - Jacobsag.com

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34 BARRY CALLEBAUT AG SPI INDEX BARRY CALLEBAUT AG WWW.BARRY-CALLEBAUT.COM KEY FINANCIAL DATA 31.08.10 31.08.09 31.08.08 31.08.07 31.08.06 CHFM Market cap 3’631.9 2’967.6 3’743.1 4’510.8 2’833.2 Net debt 870.8 942.7 1’041.2 930.2 906.9 Sales volume (in k tons) 1’305.3 1’213.6 1’166.0 1’059.2 976.7 Net sales 5’213.8 4’880.2 4’815.4 4’106.8 3’713.2 EBITDA 470.7 456.1 443.7 427.1 392.5 EBIT 370.4 350.8 341.1 324.0 295.0 Net profit 251.7 226.9 209.1 207.0 189.70 Pay-out per share in CHF 14.00* 12.5* 11.5* 11.5* 10.5* * PAR VALUE REDUCTION SHARE PRICE DEVELOPMENT Between September 2001 and September 2010, Barry Callebaut AG overperformed its benchmark, the SPI, by 408%. 700% 600% 500% 400% 300% 200% 100% 0% -100% SEP 01 MAR 02 SEP 02 MAR 03 SEP 03 MAR 04 SEP 04 MAR 05 SEP 05 THE COMPANY Barry Callebaut AG, the world’s leading manufacturer of high-quality cocoa and chocolate products, was created in the 1996 merger of Callebaut SA, a leading Belgian industrial chocolate company, and Group Barry, with its complementary sourcing activities and semi-finished products. Today Barry Callebaut is active in 26 countries, operates 43 production facilities, employs approximately 7’500 people, and generates sales of some CHF 5 billion. PERFORMANCE Barry Callebaut AG has consistently exceeded the long-term global chocolate confectionery market growth of 2-3% p.a. and has delivered impressive average annual volume growth of 7.5% in the last five years. This growth is driven by cutting-edge products, intensive geographic expansion and continuous cost leadership. Major outsourcing contracts with Nestlé, Hershey’s, Cadbury, Morinaga and, recently, BACK TO TOP MAR 06 SEP 06 MAR 07 SEP 07 MAR 08 SEP 08 MAR 09 SEP 09 MAR 10 SEP 10
Kraft Foods are a result of the company’s unique position as the only fully integrated chocolate company, able to serve its customers on a world-wide level. Between September 2009 and August 2010, Barry Callebaut AG increased its volume by 7.6%, from 1’213’610 tons to 1’305’280 tons, on a flat global market. In the same period, EBIT increased from CHF 351m to CHF 370.4m, which represents an increase in Swiss francs of 5.6%, or 7.9% in local currencies. Hence the company was able to deliver in line with its ambitious three-year targets despite only slowly recovering chocolate markets, high and volatile raw material prices, historically low butter prices, and unfavorable currency translation effects due to the strong Swiss franc. Barry Callebaut AG has continued its focused growth efforts during financial year 09/10 in line with its three strategic pillars. The company expanded its geographic presence to South America and inaugurated a factory in Extrema, Brazil. Furthermore, Barry Callebaut strengthened its market leader position in Western Europe by completing the acquisition of Chocovic in December 2009. The long-term supply agreement signed with Kraft Foods in September 2010 is a key milestone in the history of Barry Callebaut and exemplifies the strength of the company and the success of its global expansion. The existing outsourcing agreements, as for instance with Hershey’s, were successfully ramped-up and the company is prepared to execute the most recent agreement. Barry Callebaut AG continues its efforts to ensure a sustainable cocoa supply chain. Having joined the UTZ certified cocoa programme, the company has also launched multiple certification projects with selected cooperatives in Ivory Coast. Barry Callebaut thus intends to further improve living conditions for farmers in its origin countries. In Malaysia, Barry Callebaut and the Malaysian Cocoa Board signed a Memorandum of Understanding on a collaborative research project that is expected to result in higher quality chocolate from Malaysian cocoa beans. Specifically, the collaboration aims to improve Malaysian cocoa bean quality, focusing on optimizing cocoa taste, enhancing the amount of functional components, and altering color. OUTLOOK For the next financial year, Barry Callebaut will continue to grow its industrial segment by further ramping-up the growth in emerging markets, making market share gains in mature and consolidating markets, and implementing existing outsourcing contracts as well as targeting new ones. Tight cost control and continuous operational and commercial improvements will help sustain profitable growth. A specific focus will be on further expanding the company’s “Gourmet and Specialty” business by leveraging the leading position of its global brands in the premium segment and the strong position of its various local brands and labels. BACK TO TOP 35
Page 1 and 2: JACOBS HOLDING AG ANNUAL REPORT 201
Page 3 and 4: ANNUAL REPORT 2010 HOLDING AG
Page 5: THE JACOBS FOUNDATION HISTORY The J
Page 8 and 9: TOTAL SHAREHOLDER RETURN INDEX (TSR
Page 10 and 11: 8 IN OCTOBER 2009 BC joined the UTZ
Page 13 and 14: STAKEHOLDERS’ MANUAL 11
Page 15 and 16: OUR CORPORATE PRINCIPLES LONG-TERM
Page 17 and 18: OUR GOVERNANCE STRUCTURE BOARD OF D
Page 19: The financing of the investment poo
Page 22: W. ANDREAS JACOBS 20 W. ANDREAS JAC
Page 26 and 27: MARKUS FIECHTER DANIEL PFISTER 24 M
Page 28 and 29: JOHAN FAHLÉN THOMAS HAGMANN 26 JOH
Page 31 and 32: PORTFOLIO 29
Page 33 and 34: PERFORMANCE FOR FINANCIAL YEAR 2009
Page 35: JACOBS VENTURE AG THE COMPANY Jacob
Page 39 and 40: INFRONT SPORTS & MEDIA AG WWW.INFRO
Page 41 and 42: OUTLOOK The sports industry continu
Page 45 and 46: FINANCIAL STATEMENTS 2010 43
Page 47 and 48: CHF 2010 LIABILITIES AND SHAREHOLDE
Page 49: © 2010 JACOBS HOLDING AG ALL RIGHT

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