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@bonduelle.com
First Half Year 2012/2013 Turnover
Strong Half FY Turnover in line with the annual objectives: + 11.3%
Q2 extremely dynamic: + 15%
For the FY 2012/2013 first half year, the Bonduelle Group's Turnover reached € 979.3 million (1st of July 2012 - 31st of December 2012), an 11.3% increase as reported figures. Thanks to a strong dynamic second quarter (+ 15%), the Group resumed an internal growth of + 2.2%. It also benefitted from some favorable exchange rate effects (+ 2.1%) and from the various acquisitions done over the previous FY (+ 7.-%).
Activity by Geographic Region
| Consolidated Revenues (in € millions) | 1st HY 2012-2013 | 1st HY 2011-2012 | Current Exchange rate | Exchange Rates and LFL basis | 2nd quarter 2012-2013 | 2nd quarter 2011-2012 | Current Exchange rate | Exchange Rates and LFL basis |
| Europe Zone | 629.9 | 631.3 | - 0.2% | - 0.2% | 331.5 | 326.7 | 1.5% | 1.2% |
| Non-Europe Zone | 349.4 | 248.4 | 40.7% | 8.-% | 199.4 | 135.1 | 47.6% | 13.8% |
| Total | 979.3 | 879.7 | 11.3% | 2.2% | 530.9 | 461.8 | 15.-% | 5.-% |
Business Operating Segments
| Consolidated Revenues (in € millions) | 1st HY 2012-2013 | 1st HY 2011-2012 | Current Exchange rate | Exchange Rates and LFL basis | 2nd quarter 2012-2013 | 2nd quarter 2011-2012 | Current Exchange rate | Exchange Rates and LFL basis |
| Canned | 518.4 | 489.7 | 5.9% | 3.5% | 298.5 | 267.1 | 11.8% | 8.5% |
| Frozen | 275.8 | 205.1 | 34.5% | 0.9% | 144.2 | 105.- | 37.4% | 2.1% |
| Fresh processed | 185.1 | 184.9 | 0.1% | 0.1% | 88.2 | 89.7 | - 1.8% | - 1.8% |
| Total | 979.3 | 879.7 | 11.3% | 2.2% | 530.9 | 461.8 | 15.-% | 5.-% |
Europe Zone
Following a Q1 marked by a negative evolution (- 1.8%) *, Q2, for the Europe Zone, achieved a return to growth of + 1.2% *, resulting into a positive and stable performance over this first half year, on both like for like basis and reported figures * (- 0.2%). Bonduelle and Cassegrain brands strong dynamism observed in Q1 in all of the technologies (canned, frozen, fresh processed) is confirmed in Q2. The sluggish consumption can still be observed, and affects more specifically the private label operating segment. Half Year performance is the result of the Bonduelle Group's support strategy on branded product innovations and marketing activities.
Non-Europe Zone
The Non-Europe Zone showed over Q2 a strong double digit growth of 13.8% on a like for like basis * and a 47.6% on reported figures. The robust internal growth was supported by the acquisitions done in the USA, Russia and Hungary last FY. Over this half FY, the Non-Europe Zone amounted to 36% of the Group's activities. In Russia and the CIS, business remained buoyant in terms of volume and value over a pretty traditionally dynamic period. The Non-Europe Zone also benefitted from a Southern America's solid growth, coupled with a Northern America's resilience and some negotiated price increases following the poor harvests observed in this region. Half Year FY registered an 8% increase on a like for like basis and 40.7% reported figures.
Overlook
Q2 performance allows the Group to confirm its annual turnover objectives of 8% and an operational profitability of 5% to 10% for FY 2012/2013.
* at constant currency exchange rate and scope of consolidation basis
Next financial events:
- 2012/2013 Half FY Results : 28th of February 2013 (prior to stock exchange trading session)
- 2012/2013 3rd Quarter FY Turnover : 2nd of May 2013 (prior to stock exchange trading session)
