Ferrero Russia, CJSC

Performance indicators

2023: Revenue growth by 17% to RUB 59.5 billion

The revenue of the Russian subsidiary of the chocolate manufacturer Ferrero in 2023 increased by 17% compared to the previous year and reached 59.5 billion rubles against 50.9 billion rubles in 2022. Net profit of Ferrero Russia CJSC in 2023 amounted to 8.3 billion rubles, which is 1.2% higher than profit a year ago (8.2 billion rubles). This is evidenced by the reporting data on RAS, which the company published in early April 2024.

As Interfax notes with reference to the materials of Ferrero Russia CJSC, in 2023 the company's revenue began to grow significantly faster: in 2022, the growth rate was measured at 7.2%. At the same time, the dynamics of net profit slowed down, given that in 2022 this figure increased 1.6 times compared to 2021.

Unsplash

Profit from sales in 2023 sank slightly - to 10.2 billion rubles from 10.5 billion rubles in 2022. The company's gross profit at the end of 2023 amounted to 20.2 billion rubles against 19 billion rubles a year earlier.

In addition, in 2023, the company's advertising expenses increased 1.5 times on an annualized basis - to 1.79 billion rubles from 1.19 billion rubles. Marketing research costs in 2023 increased to 209.35 million rubles from 177.57 million rubles in 2022.

It also follows from the reporting of Ferrero Russia CJSC that in 2023 the company accrued short-term remuneration (wages, bonuses, benefits) to members of the board of directors in the amount of 192.4 million rubles, which is three times more than the total compensation package for 2022 (62.5 million rubles).

Italian chocolate maker Ferrero said it was not going to leave the Russian market. At the same time, in the fall of 2023, the company raised prices for its products due to the increase in the cost of cocoa butter.^[1]

2018

2018 - Annual sales - ₽ 40.7 billion One of the largest investors and taxpayers in the Vladimir region

History

1995-2012

• 1995 - Entering the Russian market
• On May 27, 2008, the construction of its own Ferrero factory in the Vladimir region, the village of Vorsha, officially began.
• November 2009 - The launch of Kinder Chocolate's first milk chocolate production line.
• March 2010 - Raffaello candy line launches.
• May 2011 - Nutella Nut Paste Line launches.
• September 2012 - Kinder Surprise line launches.

Notes