BONDUELLE - Quarter 3 FY 2015-2016 Turnover: Ongoing solid growth in line with the annual objective
(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: 447 250 044 (Dunkerque Registrar of Businesses)
Quarter 3 FY 2015-2016 Turnover
(1(st) of January - 31(st) of March 2016)
Ongoing solid growth for quarter 3
in line with the annual objective
The Bonduelle Group's turnover for quarter 3 of FY 2015-2016 stands at 471.8
million of Euro, an increase of 3.-% on a like for like basis* and therefore up
by 2.8% for the first 9 months of this financial year. Based on reported
figures, the aggregated turnover remains virtually unchanged (- 0.4%), with a
slight growth observed over this quarter (+ 0.4%).
Activity by Geographic Region
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
| Total | | |Variation|Variation at | | |Variation|Variation at |
|consolidated| | | at | constant | 3(rd | 3(rd) | at | constant |
| turnover |9 months |9 months | current | scope of |)quarter | quarter | current | scope of |
| (in ? |2015-2016|2014-2015|exchange |consolidation|2015-2016|2014-2015|exchange |consolidation|
| millions) | | | rates |and exchange | | | rates |and exchange |
| | | | | rates | | | | rates |
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
|Europe Zone | 950.1 | 955.2 | - 0.5% | - 0.5% | 312.3 | 315.8 | - 1.1% | - 1.-% |
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
|Non-Europe | 533.3 | 533.5 | - 0.-% | + 9.1% | 159.5 | 154.1 | + 3.5% | + 12.-% |
|Zone | | | | | | | | |
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
|Total | 1,483.4 | 1,488.7 | - 0.4% | + 2.8% | 471.8 | 469.9 | + 0.4% | + 3.-% |
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
Activity by Operating Segments
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
| Total | | |Variation|Variation at | | |Variation|Variation at |
|consolidated| | | at | constant | 3(rd | 3(rd) | at | constant |
| turnover |9 months |9 months | current | scope of |)quarter | quarter | current | scope of |
| (in ? |2015-2016|2014-2015|exchange |consolidation|2015-2016|2014-2015|exchange |consolidation|
| millions) | | | rates |and exchange | | | rates |and exchange |
| | | | | rates | | | | rates |
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
|Canned | 730.8 | 788.2 | - 7.3% | - 2.6% | 221.5 | 230.2 | - 3.8% | - 1.3% |
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
|Frozen | 453.2 | 415.6 | + 9.-% | + 11.-% | 153.3 | 145.2 | + 5.6% | + 10.4% |
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
|Fresh | 299.3 | 284.9 | + 5.1% | + 5.1% | 96.9 | 94.5 | + 2.5% | + 2.5% |
|processed | | | | | | | | |
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
|Total | 1,483.4 | 1,488.7 | - 0.4% | + 2.8% | 471.8 | 469.9 | + 0.4% | + 3.-% |
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
Europe Zone
The Europe Zone activity experienced a slight decline over quarter 3. The
national brands (Bonduelle, Cassegrain) performances were only partially
offsetting a penalizing private label canned activity, due to the price
decreases observed on 2015-2016 contracts, now effective and a slowdown in the
delicatessen operating segment linked to historically high levels.
The frozen operating segment in the food service sector bounced back with growth
and recorded 3 consecutive months of sales volumes increase, despite an ever
challenging consumption environment.
Non-Europe Zone
The Non-Europe Zone keeps contributing significantly to the growth of the group,
up by + 12.-% on a like for like basis* and by + 3.5% on reported figures for
the 3(rd) quarter of this FY, with accumulated increase recording + 9.1% on a
like for like basis*. On a reported basis, the zone's turnover remained stable
despite a 45 million of Euro adverse impact of exchange rates due mainly to the
depreciation of the Russian rubble.
Albeit still affected by an adverse consumption climate in Russia, the zone
continues to be driven by the development of North America and the
competitiveness of the American/Canadian dollar parity.
Highlight
Divestiture of the interest in UCR
The Ardo and Bonduelle groups, leaders in processing frozen vegetables in
Europe, finalized on the 15(th) of April 2016, the plan in which the Bonduelle
Group is to sell to Ardo its equity stake (50%) held in the Ultracongelados de
la Ribera (UCR) joint venture co-owned with Ardo, as announced on the 3(rd) of
February 2016.
Ardo retroactively acquired all Bonduelle shareholding on the 1(st) of January
2016; along with the real estate assets of the site located in Valence, up to
then property of Bonduelle. The sales of the interest, previously accounted by
equity method in the financial statements of the group, will result in a pre-tax
net charge of 2 million of Euro on the 30(th) of June 2016. This transaction
will, however, have no impact on the group's financial net debt.
Outlooks
The evolving business activity of these first 9 months, nevertheless allows,
despite an ever demanding and volatile economic climate, to confirm the turnover
growth objectives of 1.5% - 2.5% and a higher current operating profitability
than the previous FY at constant exchange rates for the 30(th) of June 2016.
* at constant currency exchange rate and scope of consolidation basis
Next financial events:
- 2015-2016 FY Turnover : 4(th) of
August 2016 (prior to stock exchange trading session)
- 2015-2016 FY Results : 4(th) of
October 2016 (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 vegetable, grown over 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 Euronext compartment B - Indices: CAC MID & SMALL - CAC
ALL-TRADABLE - CAC ALL SHARES
Code ISIN : FR0000063935 - Code Reuters : BOND.PA - Code Bloomberg : BON FP
Quarter 3 FY 2015-2016 Turnover:
http://hugin.info/143377/R/2009020/743346.pdf
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Source: BONDUELLE via GlobeNewswire
[HUG#2009020]
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Datum: 04.05.2016 - 07:00 Uhr
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