Ferrero Group Reports Consolidated Financial Statements for Fiscal Year 2023/2024

• The Ferrero Group continues its growth trajectory with an 8.9% increase in revenue, reaching EUR 18.4 billion.
• Ongoing innovation across all new products and categories, including the launch of Nutella ice cream in the same year the brand celebrates its 60th anniversary.
• Total capital investment increased by 18% this fiscal year, amounting to EUR 958 million, with resources allocated to the United States, Italy, Germany, Chile, and other countries.

Luxembourg - February 13, 2025. The Ferrero Group, through its parent company Ferrero International S.A., approved the Consolidated Financial Statements for the fiscal year 2023/2024, which ended on August 31, 2024¹. The Group closed the period with consolidated revenue of EUR 18.4 billion, an 8.9% increase compared to the previous year, reflecting the ongoing growth strategy promoted by Executive Chairman Giovanni Ferrero and executed by CEO Lapo Civiletti.

The fiscal year 2023/2024 unfolded once again in a challenging economic environment, characterized by volatile raw material prices and persistent inflationary pressures. Despite these challenges, the Ferrero Group continued to record solid growth thanks to the resilience of its people, brands, and business model. Ferrero maintains its global presence with 37 factories and closed the financial period as of August 31, 2024, with a workforce of 47,517 employees worldwide.

Daniel Martinez Carretero, Chief Financial Officer of the Ferrero Group, stated: "We are pleased to report that the Group achieved another year of solid growth despite the ongoing challenges facing the industry. While the economic environment remains complex, our brands and products have continued to perform well. This is a testament to our ongoing innovation through our products to meet the evolving needs of consumers. To foster innovation and increase our production capacity, we raised total capital investment by 18% during this fiscal year compared to the same period last year."

¹ From September 1, 2023, to August 31, 2024.

The Group's continuous product innovation has enabled further expansion across all categories, including ice cream and biscuits. Key highlights of the 2023/2024 financial year include:

• The launch of Nutella ice cream, the brand’s first packaged ice cream, which has driven consistent growth in the ice cream category.
• Further expansion of the biscuit category with the launch of Kinderini in key markets.
• The successful expansion of the Eat Natural and FULFIL brands into more European markets, demonstrating the Group’s response to changing consumer trends and the growth of the "better-for-you" category.

To support the expansion of its portfolio and geographic presence, the Group is working diligently to increase its production capacity. Key milestones include:

• The inauguration of the Group’s first chocolate processing plant in the United States. The new 70,000-square-foot facility in Bloomington, Illinois, produces chocolate for Ferrero’s leading brands in North America, including Kinder, Ferrero Rocher, Butterfinger, and CRUNCH, and now houses a new Kinder Bueno production unit.
• The modernization of our plant in Stadtallendorf.
• The expansion of our hazelnut sourcing and processing capacity in Chile.

The Group’s long-term growth strategy continues to be guided by its commitment to sustainability and its goal of generating a positive impact across the entire value chain.