Ferrero SpA is an Italian manufacturer of chocolate and other confectionery products.
Initially suspended operations in Russia. The company's statement regarding Ukraine contained the following sentence: "we have decided to temporarily suspend all non-essential activities and development plans in Russia, like most other food companies" later this part of the statement was revised to "All non-essential activities and development plans in Russia remain on hold ”, avoiding comparison with “other food companies”. The vast majority of exports are direct. Comparing total exports for the year beginning March 1, 2022 versus a year earlier by value, the growth is 33% ($120 million vs. $90 million). The 33% increase in value was not enough to maintain the market share of exported chocolate: it fell from 18.2% to 16.9%.
|August 31, 2023||Barilla continues to produce pasta in Russia|
|March 14, 2022||Ferrero pauses “non-essential activities” in Russia|
|March 12, 2022||Nutella maker Ferrero suspends non-essential activities in Russia|