BONDUELLE - Quarter 3 FY 2016-2017 Turnover: Strong activity 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: 447 250 044 (Dunkerque Registrar of Businesses)
Quarter 3 FY 2016-2017 Turnover
(1(st) of January - 31(st) of March 2017)
Strong activity growth for quarter 3
Strong organic growth, positive exchange rate effect
and consolidation start of Ready Pac Foods
The Bonduelle Group's turnover for quarter 3 of FY 2016-2017 stands at 526.8
million of Euro, an increase of 11.7% driven by the combined effect of a solid
organic growth (+ 2.2%), favourable exchange rates (+ 4.-%) and the integration
of Ready Pac Foods (+ 5.5%) into the company as of March 21(st) 2017. Over the
first 9 months of this FY, growth increased by + 4.7% based on reported figures
and + 2.-% on a like for like basis*.
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 ? |2016-2017|2015-2016|exchange |consolidation|2016-2017|2015-2016|exchange |consolidation|
| millions) | | | rates |and exchange | | | rates |and exchange |
| | | | | rates | | | | rates |
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
|Europe Zone | 947.3| 950.1| - 0.3%| - 0.2%| 315.2| 312.3| 0.9%| 0.9%|
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
|Non-Europe | 605.1| 533.3| 13.5%| 6.-%| 211.6| 159.5| 32.7%| 4.5%|
|Zone | | | | | | | | |
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
|Total | 1,552.4| 1,483.4| 4.7%| 2.-%| 526.8| 471.8| 11.7%| 2.2%|
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
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 ? |2016-2017|2015-2016|exchange |consolidation|2016-2017|2015-2016|exchange |consolidation|
| millions) | | | rates |and exchange | | | rates |and exchange |
| | | | | rates | | | | rates |
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
|Canned | 744.5| 730.8| 1.9%| 1.-%| 240.-| 221.5| 8.3%| 3.9%|
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
|Frozen | 487.4| 453.2| 7.5%| 6.1%| 168.7| 153.3| 10.-%| 4.5%|
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
|Fresh | 320.5| 299.3| 7.1%| - 1.8%| 118.2| 96.9| 21.9%| - 5.6%|
|processed | | | | | | | | |
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
|Total | 1,552.4| 1,483.4| 4.7%| 2.-%| 526.8| 471.8| 11.7%| 2.2%|
+------------+---------+---------+---------+-------------+---------+---------+---------+-------------+
Europe Zone
For quarter 3, the Europe zone showed renewed growth with + 0.9% both on a like
for like basis* and reported figures. An all the more remarkable performance
over the past 3 months, given the fact that the fresh ready to use segment was
heavily affected by adverse weather conditions in December and January in Spain
and Italy, but more than offset by a return to growth for the canned segment and
a very sharp activity rise for the frozen segment. For the first 9 months of
this FY, the activity remained virtually unchanged both on a like for like
basis* and reported figures.
Non-Europe Zone
The Non-Europe zone recorded over quarter 3 a + 32.7% growth, the favourable
exchange rates (Russian rouble and Canadian dollar, notably) and the integration
of Ready Pac Foods, as of March 21(st) 2017 (USD 28.3 million) have boosted the
growth on a comparable basis* (+ 4.5%). A sharp upturn of the activity in
Eastern Europe (Russia and the Community of Independent States) was also
observed.
For the first 9 months, the Non-Europe zone recorded a growth of + 13.5% based
on reported figures and + 6% on a like for like basis*.
Highlights
Recovery of the rouble
The return to a dynamic GDP growth in Russia, translated into a clear
revaluation of its currency. The on-going embargo on imports fosters local
production.
Acquisition of Ready Pac Foods in the US
On the 21(st) of March 2017, Bonduelle announced the vesting of Ready Pac Foods.
Based in California, Ready Pac Foods is the #1 producer of single-serve salad
bowls in the U.S. through its Bistro Bowl® suite of products and its legacy of
innovation and culinary expertise. Ready Pac Foods is also a producer of fresh-
cut produce, offering packaged salads, fresh-cut fruits, and mixed vegetables to
its retail and foodservice customers. With 4 production facilities located in
Irwindale (CA), Jackson (GA), Florence and Swedesboro (NJ), and employs about
3,500 full-time employees. Ready Pac Foods generates approximately $800m of
revenues, with a national presence in the U.S. and a wide customer base.
This milestone transaction is a key step in Bonduelle's strategic ambition
VegeGo! 2025 of being "the world reference in "well living" through vegetable
products". This acquisition will strengthen Bonduelle's international footprint
and dramatically change its profile, making the U.S. the largest country of
operations, continuing a longstanding track record of successful acquisitions in
North America, in particular Aliments Carrière, Canada, in 2007 and Allens, USA
in 2012, and the fresh category, its first business segment.
This acquisition, which is fully compatible with Bonduelle's strong financial
profile, perfectly fits with its strategic plan and will strengthen its
leadership positions in its core business lines:
- development of Bonduelle's snacking segment in the consumer convenience and
healthy food segments,
- increasing presence in the fast growing segment of fresh prepared vegetables,
- reinforcement of footprint in North America, of a size, post transaction,
equivalent to the European Union in Bonduelle's geographical portfolio.
Outlooks
The Bonduelle Group confirms its turnover growth target of + 2% to + 3% and the
stability of its operating profitability on a like for like basis*, excluding
the Ready Pac Foods acquisition.
* at constant currency exchange rate and scope of consolidation basis
Next financial events:
- 2016-2017 FY Turnover: 2(nd) of
August 2017 (after stock exchange trading session)
- 2016-2017 FY Results: 3(rd) of
October 2017 (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 more than 130,000 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
Euronext indices: CAC MID & SMALL - CAC ALL TRADABLE - CAC ALL SHARES
Bonduelle is part of the Gaïa non-financial performance index and employee
shareholder index (I.A.S.)
Code ISIN : FR0000063935 - Code Reuters : BOND.PA - Code Bloomberg : BON FP
Quarter 3 FY 2016-2017 Turnover:
http://hugin.info/143377/R/2101116/796635.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: BONDUELLE via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 03.05.2017 - 18:00 Uhr
Sprache: Deutsch
News-ID 540075
Anzahl Zeichen: 10707
contact information:
Town:
Villeneuve
Kategorie:
Business News
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