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ANTICIPATED SOFT START TO THE YEAR, WITH LOWER COCOA BEAN PRICES ENCOURAGING SIGN FOR MARKET STABILIZATION 3-Month Key Sales Figures, Fiscal Year 2025/26 21 January 2026
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4 KEY MESSAGES Group volume at -9.9%, with resilience in strategic growth areas of cacao coatings (compound) & AMEA Global Cocoa volume (-22.0%) reflecting negative market demand and strategic returns prioritization Global Chocolate volume (-6.8%) in line with market decline & additionally impacted by temporary production pause in St. Hyacinthe, Canada Confirming FY 2025/26 outlook with lower bean prices encouraging for chocolate market stabilization
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6 Nielsen market pricing Cocoa Futures LDN Change Nielsen market volume
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11 FOCUS FY 25/26 Investing in future growth engines and innovation to emerge an even stronger leader Lower cocoa bean prices encouraging for chocolate market stabilization Preparing for a return to growth
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APPENDIX
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THANK YOU