BONDUELLE - First Half Year 2014-2015 Turnover : Remarkable growth
(Thomson Reuters ONE) -
BONDUELLE
A French SCA (Partnership Limited by Shares) with a capital of 56,000,000 Euros
- Head Offices: La Woestyne 59173 Renescure, France
Business registration number: B 447 250 044 (Dunkerque Registrar of Businesses)
- finance(at)bonduelle.com
First Half Year 2014-2015 Turnover
Remarkable turnover growth for the Bonduelle Group
for the first half of this FY: + 5.5%*
Acceleration of growth over quarter 2: + 5.9%*
Strong national brand sales growth in Europe
Excellent commercial activity in Russia and America
The Bonduelle Group's turnover exceeded for the first time ever one billion Euro
over the first 6 months to reach 1.019 billion of Euro in the first half year of
FY 2014-2015 (1(st) of July 2014 - 31(st) of December 2014), an increase of +
5.5% on a like for like basis and, despite the impact of adverse currency
movements, + 3.1% based on reported figures. The second quarter saw an
acceleration of growth of 5.9% and 3.4% respectively.
It should be noted that all areas and technologies are growing over the first
half of the financial year.
Activity by Geographic Region
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
| Total | | |Variation|Variation at | | |Variation|Variation at |
|consolidated| | | at | constant | 2(nd | 2(nd) | at | constant |
| turnover |1(st) HY |1(st) HY | current | scope of |)quarter | quarter | current | scope of |
| (in ? |2014-2015|2013-2014|exchange |consolidation|2014-2015|2013-2014|exchange |consolidation|
| millions) | | | rates |and exchange | | | rates |and exchange |
| | | | | rates | | | | rates |
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
|Europe Zone | 639.4 | 632.6 | 1.1% | 1.1% | 326.4 | 328.9 | -0.8% | -0.7% |
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
|Non-Europe | 379.4 | 355.1 | 6.8% | 13.7% | 228.1 | 207.1 | 10.2% | 17.2% |
|Zone | | | | | | | | |
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
|Total | 1,018.8 | 987.7 | 3.1% | 5.5% | 554.5 | 536.- | 3.4% | 5.9% |
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
Activity by Operating Segments
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
| Total | | |Variation|Variation at | | |Variation|Variation at |
|consolidated| | | at | constant | 2(nd | 2(nd) | at | constant |
| turnover |1(st) HY |1(st) HY | current | scope of |)quarter | quarter | current | scope of |
| (in ? |2014-2015|2013-2014|exchange |consolidation|2014-2015|2013-2014|exchange |consolidation|
| millions) | | | rates |and exchange | | | rates |and exchange |
| | | | | rates | | | | rates |
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
|Canned | 558.- | 546.8 | 2.-% | 5.1% | 317.5 | 313.4 | 1.3% | 5.1% |
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
|Frozen | 270.4 | 264.4 | 2.3% | 4.7% | 146.5 | 138.4 | 5.9% | 6.9% |
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
|Fresh | 190.4 | 176.5 | 7.9% | 7.9% | 90.5 | 84.2 | 7.5% | 7.5% |
|processed | | | | | | | | |
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
|Total | 1,018.8 | 987.7 | 3.1% | 5.5% | 554.5 | 536.- | 3.4% | 5.9% |
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
Europe Zone
In Europe, the turnover stands at 639.4 million of Euro, an increase of 1.1%*
for the first half of FY 2014-2015 representing 63% of the group's turnover.
In mature markets, the sales of branded products both in the canned and frozen
segments showed an increase and some on-going substantial market share gains in
the retail sector. The food service segment remained adversely impacted despite
a timid recovery observed at the end of the period.
Fresh-cut salad in bags and delicatessen salads activities again recorded strong
growth in all the countries served (France, Germany, Italy). In France, the
strengthening of the commercial momentum coupled with some innovations have
enabled the Bonduelle brand to become for the first time the co-leader in the
fresh-cut salad in bags product range and to consolidate its leadership in the
delicatessen segment thanks to both the baseline products and the ever-growing
snacking activity. In Italy, in a nevertheless challenging environment,
Bonduelle recorded another quarter of business growth thanks to the launch of
new product lines in the salad category.
The outstanding performance of the sales of national brands (Bonduelle and
Cassegrain) further strengthens the group's strategy on accessible innovation,
supported by reinforced marketing investments.
Non-Europe Zone
In the Non-Europe Zone, the turnover stands at 379.4 million of Euro over the
first half of 2014-2015, an increase of + 13.7%* on a like for like basis,
representing 37% of the group's turnover. The growth stands at + 17.2%* for
quarter 2.
In North America, the commercial activity remained strong in Canada and, in the
United States, the volume gains were on-going in the various sectors of
activity. This performance was achieved despite of the fire of the factory in
Tecumseh (Ontario) in July 2014 which slowed down certain sales.
In Russia, sales growth, mainly driven by volumes, proved to be exceptionally
high. Essentially locally produced, the Bonduelle and Globus canned vegetables
saw greater accessibility enhanced by an imported inflation and the embargo on
other food product categories.
Highlight
Completion of the acquisition of the frozen plant of Lethbridge (North America)
The Bonduelle Group and the Canadian distribution group Sobeys signed on the
3(rd) of February 2015, the Asset Purchase Agreement related to the acquisition
by Bonduelle of a factory of frozen vegetables. This production tool in
excellent condition and with a capacity of 15,000 tons is located in Lethbridge,
Alberta (Western Canada) on the border with the United States. This new tool
strengthens the presence of Bonduelle in North America in the west of the
continent, thus enabling its commercial deployment and logistic savings in this
area.
This transaction of a limited amount comes with the signing of a long term (7
years), exclusive supply contract between Sobeys (2(nd) Canadian distributor)
and Bonduelle for several product lines on Canadian territory. This partnership,
therefore, ensures a long term sourcing of vegetables with producers from
Alberta, Quebec and Ontario.
Outlooks
Despite an uncertain and volatile climate, the excellent performance of the
first half largely confirms the objective of business growth announced in
October. The outlook for the current operating profitability, which will take
into account the excellent harvest of summer 2014, will be refined with the
publication of the half year results on the 25(th) of February 2015.
* at constant scope of consolidation and exchange rates
Next financial events:
- 2014-2015 Half FY Results : 25(th) of February 2015
(prior to stock exchange trading session)
- 2014-2015 3(rd) Quarter FY Turnover : 7(th) of May 2015
(prior to stock exchange trading session)
About Bonduelle
Bonduelle, a family business, was established in 1853. Its mission is to be the
world reference in "well-living" through vegetable products. Prioritising
innovation and long-term vision, the group is diversifying its operations and
geographical presence. Its vegetables, grown across more than 128,000 hectares
all over the world, are sold in 100 countries under various brand names and
through various distribution channels and technologies. Expert in agro-industry
with 58 industrial sites or own agricultural production, Bonduelle produces
quality products by selecting the best crop areas close to its customers.
Bonduelle is listed on the NYSE - Euronext compartment B - Indices: CAC MID &
SMALL - CAC ALL-TRADABLE - CAC ALL SHARES
Code ISIN: FR0000063935 - Code Reuters: BOND.PA - Code Bloomberg: BON FP
AvisFinancier150205enGB:
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Source: BONDUELLE via GlobeNewswire
[HUG#1891084]
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Datum: 05.02.2015 - 07:01 Uhr
Sprache: Deutsch
News-ID 369340
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