The Ferrero Group, through its holding company Ferrero International S.A., approved the Consolidated Financial Statements for the financial year 2022/2023, closed on 31 August 2023, closed with a consolidated turnover of 17 billion euros, in increase of +20.7% regarding the turnover of 14 billion euros of the year precedence. Growth. a note of the company specifies, "has been supported both by organic growth and acquisitions, continuing the growth strategy led by the executive president, Giovanni Ferrero, and executed by ceo Lapo Civiletti".

"Despite the year characterized by a complex economic and geopolitical context - the note continues - the the Ferrero Group has been able to continue its solid growth and consolidate its market share in all categories and geographies thanks to the resilience of its people, its brands and its business model". 

The Ferrero production facilities in the world at 31 August 2023 were 37 compared to the 32 of the previous year, while the Group’s global workforce was 47,212, compared to 41,441 at 31 august 2022. The Group therefore expanded its production capacity to meet the growing demand for products. During the period in question, it made total investments of EUR 811 million in real estate, plant and equipment in Italy, the United States, Germany and Spain.

"We are pleased to be able to report a moment of strong growth, despite the economic and geopolitical challenges, with the continuous inflationary pressures that remain a feature throughout the world. In addition to revenue growth, the global workforce also grew by more than 5,000 people, reflecting the long-term vision of our corporate strategy," said Daniel Martinez Carretero, chief financial officer of the Ferrero Group.

In terms of acquisitions, at the end of January 2023, the Group took over Wells Enterprises Inc., the most important private company controlled by a family in the United States, specializing in frozen ice cream and desserts. The company has iconic brands, including Blue Bunny, Blue Ribbon Classics, Bomb Pop and Halo Top. The acquisition is part of the ambitious strategic growth of the Ferrero Group, aimed at expanding its activities in North America and in the ice cream category. The agreement also included four US manufacturing facilities, located in the states of Iowa, Nevada and New York.

At the end of march 2023, the Group also finalized the acquisition of Fresystem, a family-run Italian company that produces frozen bakery products. The acquisition is part of Ferrero’s strategic growth plans and follows the launch of the Nutella Muffins, manufactured by Fresystem since 2021.

As for organic growth, "Innovation remains at the heart of the company’s dna, in order to support the growth of Ferrero’s most iconic brands, expanding their presence in new categories of the Sweet Packaged Food market segment, thus satisfying new consumer needs. This is reflected in the year 22/23 by the introduction of new Kinder, Rocher and Raffaello references in the ice cream segment across Europe, and the successful launch of Nutella Biscuits and Nutella B-ready in the US".

The Group’s sustainability strategy has been confirmed, focusing on four key pillars: environmental protection, sustainable supply of high-quality ingredients, promotion of responsible consumption and valorisation of people.