The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Pascal Boll - Stifel, Nicolaus & Company, Incorporated, Research Division - Analyst
: Pascal Boll from Stifel. A few questions. So first of all, on volumes. After you were very upbeat on the growth acceleration in H2, now you guide for
the full year for flat to modest growth. First of all, what changed? And secondly, what should we expect in terms of trajectory there in Q3, Q4? Q4,
you have a low base. But is it fair to assume that Q3 will also be probably more towards low-single digits? That would be my first question.
Then EBIT was very strong in H1. Maybe we have seen a 30% increase in cocoa in EBIT year-over-year. What is behind there? And how sustainable
is that profitability increase? And if we look into H2, how should we look there in terms of profitability? Do you expect similar profitability? Will
there be also a positive mix effect in H2, maybe that one.
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APRIL 05, 2023 / 8:00AM, BARN.S - Half Year 2023 Barry Callebaut AG Earnings Call
And then finally, for the new CEO. I mean we have seen new mid-term targets announced in Q1 that was under the old management -- under the
old CEO. What is the risk that we see further adjustments in the next few months there? And how committed are you to that strategy?
Question: Andreas von Arx - Baader-Helvea Equity Research - Analyst
: Yes. I'm afraid I missed the start of the call. So apologies if you already covered that topic. But with regards to the CEO change, has there been an
extended external search process with internal and external candidates? First question. And second question for Peter Feld. I mean, isn't it a bit
odd that you joined as CEO of Barry Callebaut from a company that previously has reduced position in the very same company, which is not really
speaking of confidence in the business model?
Peter Feld
Okay. So that's 2 good ones. So let me take the first one. I think as I mentioned before, I have been asked by the Board of Directors of Barry Callebaut
to consider this role, which I did. And you can rest assured that they're following the compliance and everything that needs to happen in a public
company. And I'm very happy to be in a position to take that on. I think also for whatever happened in the history, I can't comment on that because
I wasn't there. And so I think, obviously, for me leaving Jacobs Holding that creates a void in Jacobs Holding. So it's not easy.
For Jacobs Holding at this point in time, the employees on that side have been informed in parallel to the information that you saw this morning
at 7:00 or shortly after 7:00. And I will actually be with them later to have a communication with that team. But I don't want to comment further
on that because I haven't been before there. And as I mentioned on my initial statement this morning, there's just a few matches that made a lot
of sense for both sides. And also my passion for the business is very obvious as I explained.
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APRIL 05, 2023 / 8:00AM, BARN.S - Half Year 2023 Barry Callebaut AG Earnings Call
Question: Jean-Philippe Bertschy - Vontobel Holding AG - Analyst
: Jean-Philippe Bertschy back again. A question on M&A, of course, it'll be difficult to comment, but -- and I'm back to Gourmet probably with one
of your competitors making some acquisitions, strengthening its position with a former Barry manager. What is the view here? And maybe to Peter
as well, if you have some experience with regard to M&A?
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