World’s biggest chocolate maker issues profit warning as cocoa prices collapse; shares plunge 17%

Swiss chocolate maker Barry Callebaut on Thursday slashed its operating profit forecast, citing falling cocoa prices, industry overcapacity and potential supply disruption linked to the Iran war. The company, which is the world’s largest chocolate maker, said it now expected earnings before interest and tax (EBIT) to decrease by “mid-teens” percentage in its 2025 to 2026 fiscal year. The outlook reflects a significant downgrade from just three months earlier, when the Zurich-headquartered company said it was preparing for a return to growth. Hein Schumacher, who was appointed Barry Callebaut CEO in late January, said Thursday that the firm has an...