Ferrero Group, the owner of brands such as TicTac, Fox’s, Kinder, and Nutella, has reported solid annual results that were boosted by new product innovation.
Over the 12 months to 31 August 2024, the Italian company’s revenue rose 8.9% to €18.4bn.
Ferrero noted that the year was again marked by a “challenging economic environment”, with volatile commodity prices and continued inflationary pressures. Despite this, the Ferrero business continued its growth trajectory, thanks partly to innovation across new products and categories.
Highlights included the launch of Nutella Ice Cream, the first packaged ice cream by the brand, and further expansion into the biscuit category with the launch of Kinderini in key markets. It also rolled out its Eat Natural and FULFIL brands into additional European countries.
Daniel Martinez Carretero, Chief Financial Officer at Ferrero Group, said: “We are pleased to report another strong year of growth for the group, despite the continued headwinds the industry is facing.
“Although the economic environment remains complex, our brands and products continue to perform well. This is a testament to the way we continue to innovate our products to meet the changing needs of consumers. To spur this innovation on and to increase our manufacturing capabilities, this financial year saw us increase total capital investment by 18% on the previous period.”
NAM Implications:
- A way of instigating an exit strategy by establishing a clear value for the company.
- And reassuring prospective buyers…
