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)
First Half Year 2016-2017 Turnover
Turnover growth in line with the annual objective
of the Bonduelle Group for the first half of FY 2016-2017
The Bonduelle Group's turnover stands for the 1st half of financial year 2016-2017 at 1,025.6 millions of euro, a growth of + 1.9% on a like-for-like basis* and of + 1.4% based on reported figures.
Quarter 2, marked by a slowdown of economic activity in Europe at the end of the period, and a high comparison basis in Russia, was down by 0.3%* and 0.5% respectively.
Activity by Geographic Region
| Total consolidated turnover (in € millions) | 1st HY 2016-2017 | 1st HY 2015-2016 | Variation at current exchange rates | Variation at constant scope of consolidation and exchange rates | 2nd quarter 2016-2017 | 2nd quarter 2015-2016 | Variation at current exchange rates | Variation at constant scope of consolidation and exchange rates |
| Europe Zone | 632.1 | 637.7 | - 0.9% | - 0.8% | 318.- | 326.- | - 2.4% | - 2.4% |
| Non-Europe Zone | 393.5 | 373.8 | 5.3% | 6.6% | 227.8 | 222.8 | 2.3% | 2.8% |
| Total | 1,025.6 | 1,011.6 | 1.4% | 1.9% | 545.8 | 548.7 | - 0.5% | - 0.3% |
Activity by Operating Segments
| Total consolidated turnover (in € millions) | 1st HY 2016-2017 | 1st HY 2015-2016 | Variation at current exchange rates | Variation at constant scope of consolidation and exchange rates | 2nd quarter 2016-2017 | 2nd quarter 2015-2016 | Variation at current exchange rates | Variation at constant scope of consolidation and exchange rates |
| Canned | 504.5 | 509.3 | - 0.9% | - 0.3% | 283.3 | 292.3 | - 3.1% | - 2.7% |
| Frozen | 318.8 | 299.9 | 6.3% | 7.-% | 170.4 | 163.2 | 4.4% | 4.5% |
| Fresh processed | 202.4 | 202.4 | 0.-% | 0.-% | 92.1 | 93.3 | - 1.3% | - 1.3% |
| Total | 1,025.6 | 1,011.6 | 1.4% | 1.9% | 545.8 | 548.7 | - 0.5% | - 0.3% |
Europe Zone
For the first half of FY 2016-2017, the Europe zone's turnover remains virtually unchanged at - 0.8% on a like for like basis* and - 0.9% based on reported figures.
The canned operating segment experienced a downturn over quarter 2 that was related to the lower promotional activities which were largely linked, in turn, to the harvest deficits registered in Summer 2016. The frozen segment achieved positive growth over the period, witnessing the recovery of the food service activity. Lastly, the fresh processed (delicatessen) and ready to eat (fresh-cut salad in bags) segment showed an overall stability in sales linked to an Italian market for fresh-cut salad in bags that continued to be difficult and the deterioration of production conditions in Spain (floods) at the end of the period. As for the delicatessen segment, a return to strong positive growth was observed in the second quarter.
Non-Europe Zone
The Non-Europe zone's turnover recorded a 6.6% growth on a like for like basis* and 5.3% based on reported figures over the first 6 months.
The increase in activity amounted to + 2.8% on a like for like basis* in quarter 2 as a result of a high basis for comparison notably in Russia (anticipation of a price increase in January 2016) coupled with a consumption climate for this zone showing no real signs of recovery.
In North America, the activity continued to experience strong growth, notably in Canada. In South America, the repositioning of the canned range enabled the group to resume growth.
Outlooks
The growth recorded over this first half year, close to the annual objective ( + 2 to + 3% on a like for like basis*), should enable the group, when publishing the half year results, to confirm its annual objective of a stability of the operating result at constant exchange rates.
* at constant scope of consolidation and exchange rates
Next financial events:
- 2016-2017 Half FY Results: 2nd of March 2017 (prior to stock exchange trading session)
- 2016-2017 3rd Quarter FY Turnover: 3rd of May 2017 (after 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 54 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
