Ferrero invests billion in innovation to keep growing

Ice creams and healthy snacks have contributed to Ferrero‘s turnover growing nearly 9 %, as the producer of brands such as Nutella, Kinder and Tic Tac is investing more than ever in product innovation.

Meeting changing consumers’ needs

Ferrero’s group turnover grew by 8.9 % to 18.4 billion euros in its financial year 2023/2024, which ended on 31 August 2024, a huge downturn in growth compared to the previous year’s more than 20 % – but that growth was partly due to acquisitions. The manufacturer is “pleased” with the results in a challenging economic environment, marked by volatile raw material prices and ongoing inflationary pressure.

“To spur this innovation on and to increase our manufacturing capabilities, this financial year saw us increase total capital investment by 18 % on the previous period”, Chief Financial Officer Daniel Martinez Carretero points out. Indeed, the company has almost reached the milestone of a billion euros in total capital investments, reaching 958 million in 2023/24. Growth was partly driven by the launch of Nutella Ice Cream, the introduction of Kinderini biscuits in “key markets” and the “successful rollout” of healthier snacks under the Eat Natural and FULFIL brands in further European countries.

The group has also opened its first chocolate processing plant in the United States in Bloomington, Illinois, while the factory in German Stadtallendorf was modernised. Ferrero operates 37 production facilities worldwide and employs almost 48,000 people.