Barry Callebaut AG (0QO7) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to Barry Calabelt's half-year 23-24 financial results presentation. My name is Sophie Lang, Head of Investor Relations, and it's my pleasure to welcome those of you in person with us today at the Sixth Convention Centre, and also to welcome those of you joining online via webcast. Our session today will be hosted by our CEO, Peter Felt, and our CFO, Peter Vanesta, and we're going to cover off the half-year results, as well as an update on BC Next Level, and an update on the cocoa market environment. Before I start, I'd like to draw your attention to the disclaimer. I won't go through it in detail, but please do take note of it. And I'd also just like to remind you that today's session is being recorded. And with that, I'd like to hand you over to our CEO, Peter Phil. Thank you very much, Sophia. Ladies and gentlemen, good morning, everybody. Thank you very much also from my side for attending the half-year results conference of Bari Kalibao. Since we met the last time six months ago on the 1st of November, we've made solid steps forward, both in delivering on our Bari Kalibao next level investment program, as well as rebuilding the commercial momentum in the group. While we're progressing well with our plans, you know that the world has changed since the 1st of November radically. Literally, cocoa prices have increased to record levels and supply has become a problem for several players in the market. The China consumer sentiment, it is the lowest ever level at this point in time, and we have two major geopolitical challenges underway. In that environment, and benefiting from the global presence that we have for our customers, and most importantly, in the bean sourcing regions and countries, Barik Kalibau has delivered a solid perf...