Ferrero sees turnover rise to 9.5 billion euros in 2015

(AGI) Turin, March 16 - Ferrero International S.A., parent company of the Ferrero Group, has approved the consolidated financial statements for the year that ended on Aug. 31, 2015, with a consolidated turnover of 9.542 billion euros. The result was 13.4 percent higher than the previous period, which closed with a consolidated turnover of 8.412 billion euros. "Despite the well-known difficulties in the international situation," the group said in a statement, "this growth was the result of an extraordinary dynamism in the development of new markets. Sales of Ferrero products confirmed, and in some cases improved, the outstanding results of previous years in Asia, Middle East, U.S., Canada, Mexico and Australia. Excellent sales results were achieved in European markets such as the U.K., Poland and Germany. Good recovery in the major Latin markets (especially in Europe and South America), except for Italy, where sales remained virtually flat. Russia has been seriously affected by the significant depreciation of the ruble." The group posted a profit before the tax of 889 million euros (2.0 percent less than in the previous year). Despite a slight increase in operating income, the financial result was "significantly affected by the fluctuation of exchange rates". The Ferrero Group made new investments for 646 million euros, of which 557 million euros (5.8 percent of sales) are aimed at strengthening industrial and production activities, mainly in China, Italy, Germany, Poland, India and Brazil. The group has continued to bolster its presence in the hazelnut market. During 2015, the Ferrero Group also completed its acquisition of the Oltan Group, a leading operator in the supply, processing and sale of hazelnuts with approximately 500 million dollars in annual revenue. Additionally in 2015, the group completed the acquisition of Thorntons Plc, a British company founded in 1911, and a leader in the production and marketing of chocolate-based confectionery products with an annual turnover of about 300 million euros. Ferrero employed on average 25,784 workers in the 2014/2015 period, against 24,836 in 2013/2014. On Aug. 31, 2015, 33,219 people worked for the group, up from 27,457 the year before. The figure including external collaborators was 40,721. (AGI) . .