CTH Invest Group reports Consolidated Financial Statements for the 2023/2024 Financial Year

Due to a change in the financial year, the prior consolidated financial statements covered a 20-month period. As a result, direct comparison with the current 12-month results is not considered relevant. Due to a change in the financial year, the prior consolidated financial statements covered a 20-month period. As a result, direct comparison with the current 12-month results is not considered relevant. With operations spanning four continents, the CTH Invest Group operated 25 manufacturing...

Due to a change in the financial year, the prior consolidated financial statements covered a 20-month period. As a result, direct comparison with the current 12-month results is not considered relevant.

With operations spanning four continents, the CTH Invest Group operated 25 manufacturing plants as of August 31, 2024. During the period, the Group's global average workforce reached 12,882 employees.

The Group's growth was driven by solid organic performance and strategic acquisitions, underscoring the continued success of its entrepreneurial vision and strategy led by its Shareholder, Giovanni Ferrero.

"Our performance this year demonstrates the strength and resilience of our business," said Guido Giannotta, Director at CTH Invest S.A. "Despite a financial year shaped by a challenging economic environment—marked by fluctuating commodity prices and ongoing inflationary pressures affecting markets globally—we achieved solid growth, strengthened our market position in both the sugar and biscuits categories, and advanced in key geographic markets. We also successfully completed the acquisitions of Dori Alimentos in Brazil, Jelly Belly Candy Company in the U.S. and Michel et Augustin in France, reinforcing our international presence. Following the close of the financial year, we finalized the acquisition of Nonni's Bakery in the U.S. on October 1, 2024. Beyond revenue growth, we've expanded our production capacity and global workforce—reflecting the long-term vision and strategic focus that drive our business forward."

About CTH Invest S.A.

CTH Invest S.A. is a Ferrero-affiliated Belgian Holding Company that owns Ferrara and Nonni's in the U.S., Fox's & Burton's Biscuits in the U.K, Fine Biscuits Company in Europe, and Michel et Augustin in France.
Ferrero Group and its Affiliates are the world's third-largest player in the chocolate confectionery market and hold the second position globally in the sweet biscuits category.

View original content:https://www.prnewswire.co.uk/news-releases/cth-invest-group-reports-consolidated-financial-statements-for-the-20232024-financial-year-302507823.html