Germany’s oldest chocolate factory Halloren posted 36% earnings before tax (EBT) improvement during the third quarter, driven by strong sales of its Halloren Kugeln range as well as improved use of its production capacity.
For the third quarter, EBT reached EUR790,000 (US$1.08bn), while EBIT reached EUR1.7m against EUR370,000 in the same quarter of last year.
Turnover grew 18.2% during the quarter to reach EUR39.8m, and the company said operating income improved by 16.2% to EUR41.7m.
The company said sales of its Halloren Kugeln range “contributed significantly to sales”, while private label sales increased 12.9% over the previous year to reach EUR17.5m.
The company said that despite the “still tight” raw material situation with increased prices on dairy, sugar, hazelnuts and almonds, it expects to meet its forecast of matching the prior year’s EBT numbers.
For the full earnings release click here.
