THE FERRERO GROUP APPROVES THE CONSOLIDATED FINANCIAL STATEMENTS 2019/20

"The Ferrero Group approved the Consolidated Financial Statements for the year ended August 31, 2020 with a turnover of 12.3 billion Euro".

Ferrero International S.A., parent company of the Ferrero Group, approved the Consolidated Financial Statements for the year ended August 31, 2020. The Ferrero Group, of which Mr. Giovanni Ferrero is the Executive Chairman and Mr. Lapo Civiletti is the CEO, closed the financial year with a consolidated turnover of 12.3 billion Euro, an increase of +7.8% compared to the previous year’s turnover of 11.4 billion Euro. 
 
With this approval, Ferrero International S.A. consolidated 105 companies and 31 manufacturing plants worldwide, selling directly and via distributors in over 170 countries. Meanwhile, the Group's average workforce in 2019/2020 was 34,121 employees, increasing from 33,003 employees in 2018/2019. The headcount as of August 31, 2020 amounted to 37,122 employees, compared to 36,372 as of August 31, 2019. 
 
Despite the uncertainties caused by Covid-19, the Ferrero Group successfully adapted to the challenges coming from the pandemic. Prioritizing consumer and employee health and safety, the Ferrero Group has been able to demonstrate agility and resilience to guarantee operational continuity and delivering products to its consumers. 

 
 
The Ferrero Group achieved net sales growth of finished products. Key highlights of this include: 
 

• Growth in the USA and other western markets including Germany, France and Italy;
• The growth of iconic brands such as Nutella®, Kinder Bueno® and chilled products;
• The launch of new products including Nutella Biscuits® in Italy;
• The full integration in the Consolidated Accounts of products such as Keebler®, following its acquisition from Kellogg Company at the end of the 2018/2019 fiscal year.

 
Organic growth (excluding the impact of the business combinations of the previous year) increased by 1.5% at current exchange rates. 

Ferrero Group continues to show an acceleration in certain initiatives: and increase in its iconic brands 

  
Moreover, the Ferrero Group continued to accelerate certain initiatives: increasing investment in its iconic brands; strengthening internal R&D activities; and for another consecutive year investing in improving and expanding its factories, plants and equipment. As part of the Group’s continued technological development strategy it expanded its production capacity, with total capital investments amounting to 619 million Euro – the main investments being property, plant and equipment (534 million Euro), for its plants in Italy, Germany, the USA and Poland. 
 
These investments represent the Group’s continuous approach to improving the quality, freshness, food safety, competitiveness and key for Ferrero – the environmental impact of its products.