Wessanen Q4 and 2012 full year press release
(Thomson Reuters ONE) -
* Grocery operations continue to perform well
* Creation of IZICO, integrating our frozen food business
* Execution of reorganisation progressing well
CEO statement
2012 was a turbulent year for the global economy. The Eurozone in particular
witnessed much instability while low consumer confidence led to sluggish demand.
The organic food market seemed almost untouched by these conditions, trending
positively with mid-single digit growth.
2012 could be characterised as a challenging year for Wessanen as well. It was
the first year of executing our three-year strategic objectives: managing
topline growth, profitability improvement and enablers. We have made clear
progress in numerous areas, however not all of our initiatives have resulted in
the desired outcome. Consequently, we have launched a transformation process -
Wessanen 2015 - to improve our focus and substantially reduce complexity.
The grocery channel was once again the driving force behind the growth of
organic food. We achieved 4.6% organic growth in this channel with our core
categories and brands in 2012. In the fourth quarter we realised 6.9% autonomous
growth. Newly acquired Clipper showed a strong performance as well, posting 11%
growth versus last year. The health food stores channel only grew modestly. Our
HFS performance was disappointing, particularly due to our wholesale and
distribution activities.
At Frozen Foods we are integrating under new leadership both businesses into one
stronger company, newly named IZICO. A sharpened, focussed strategy will
establish IZICO as a more profitable business by the end of 2013.
ABC capitalised on improvements in the previous years, leading to ongoing
autonomous revenue growth. Daily's maintained its leading position in the
attractive ready-to-drink cocktails market thanks to strong advertising
campaigns across diverse media channels, innovations and an increase in
distribution. Postponing the divestment process was a setback. After a
comprehensive process to divest ABC, we had to conclude that the bids received
did not adequately reflect ABC's fundamental value, resulting in the decision to
postpone the sale in December.
Although Wessanen realised 0.7% autonomous growth in 2012, we had to report a
full year net loss of ?53 million, driven by the weakened performance in parts
of our business, costs incurred for our transformational programme and
impairment losses at Allos, Kallo, Tartex and IZICO.
To make Wessanen more profitable, we are conducting a transformation to realise
cost savings and be a more consumer- and customer-led company. By becoming more
agile, more focussed, less complex and more efficient, Wessanen should be
growing profitably in all business segments in the near future.
I fully acknowledge the consequences this reorganisation will have for many of
our colleagues, who will be leaving. I am grateful for their considerable
contributions in building our businesses.
Whilst 2013 will be another challenging year, I am confident that with the
dedication and commitment of our people we will be able to further boost the
sustainable growth and long term value for all stakeholders.
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For more information
Carl Hoyer, VP Corporate Communications
Phone +31 (0)20 3122 140, +31 (0)6 1235 5658
Twitter (at)RoyalWessanen
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Download the full press release (PDF, 1.2Mb):
http://hugin.info/143317/R/1680321/548985.pdf
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Source: Royal Wessanen nv via Thomson Reuters ONE
[HUG#1680321]
Unternehmensinformation / Kurzprofil:
Datum: 22.02.2013 - 07:15 Uhr
Sprache: Deutsch
News-ID 232191
Anzahl Zeichen: 4389
contact information:
Town:
AT Amsterdam Zuidoost
Kategorie:
Business News
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