Barry Callebaut (BARN) Investor update (Q&A) summary

Strategic vision and ambition

• Aims to be the undisputed global leader in cocoa and chocolate, focusing on sustainability, innovation, and premiumization.

• Shifts toward a solutions provider, scaling specialties in high-growth segments and accelerating premiumization.

• Empowers regional teams and fosters a winning culture to drive growth.

Strategic priorities and growth focus

• Focuses on strengthening fundamentals, restoring reliability, and concentrating resources on key specialties, premiumization, and high-potential market segments.

• Five growth priorities: Global Accounts, Regional Food Manufacturers, Gourmet, Specialties, and Cocoa Powder, with targeted investments in 10 key markets representing over two-thirds of group volume and profit.

• Private label and adjacencies like ice cream, energy bars, and pastries are seen as growth drivers, especially in Europe.

• Focus for Growth plan launched to expand value-added solutions and stabilize core operations.

• Unlocks growth with targeted global accounts and partnerships in commercial, innovation, and sustainability.

Premiumization and innovation

• Accelerates premiumization through faster innovation cycles, co-creation, and R&D expertise, especially in adjacencies like ice cream.

• Responds to evolving consumer trends with health-focused and sensory premiumization solutions.

• Coatings and non-cocoa alternatives remain strategic, with investments in innovation and partnerships like Planet A Foods for cocoa replacers.