The Ferrero Group approved the Consolidated Financial Statements as of and for the year ended August 31, 2016 with a turnover of 10.3 billion Euro.
Ferrero International S.A., parent company of the Ferrero Group, approved the Consolidated Financial Statements of the Group as of and for the year ended August 31, 2016. At that date, the Group was consolidating 86 subsidiaries worldwide, with 22 operating manufacturing plants, of which three operating within the framework of the Michele Ferrero Entrepreneurial Project. The Group’s products are present directly or through authorised distributors in over 170 countries. Besides the global uncertainties and the industry challenges and trends, the 2015/2016 financial year was an outstanding year for the Group, which was able to achieve significant growth and expansion worldwide. In fact, the Ferrero Group generated an important increase in sales, whilst continuing to boost investment in its brands and maintaining a high level of operating income as well as strengthening internal R&D activities.
The Group, of which Mr. Giovanni Ferrero is the Chief Executive Officer, closed the financial year with a consolidated turnover of 10.3 billion Euro, with an increase of +8.2% compared to the previous year, which reported a consolidated turnover of 9.5 billion Euro.
The sales of finished products increased in the main European markets such as Germany, Poland, Spain and France, while Italy's sales remained flat. Turkey also obtained a significant increase in Net Sales compared with the previous year. Within the American countries, the USA and Mexico recorded the higher increase in net sales. India also experienced the positive trend of last year.
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