Ferrero Group reports increase in revenue
On February 10th, 2022, Ferrero Group announced an increase in revenue with the release of its Consolidated Financial Statements for the year ending on August 31st, 2021. Ferrero reported revenue earnings as €12.7 billion, representing a 3.4% increase over the €12.3 billion reported in 2020. This comes as the company continues to expand in the wake of the COVID-19 (coronavirus) pandemic, with its workforce growing to 38,767 employees across 107 subsidiaries and 32 manufacturing plants.
Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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