BONDUELLE - 2014-2015 FY Turnover: Another year of strong turnover growth exceeding objective
04 Août 2015 - 7:01AM
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)
2014-2015
Financial Year Turnover
Another year of
strong turnover growth
exceeding objective for Bonduelle in FY
2014-2015
In a rather demanding environment
in FY 2014-2015 - sluggish consumption and concentration of
distribution in Europe, fire at the Tecumseh plant (Canada),
Russian embargo and the rouble devaluation - the Bonduelle Group
records another financial year of strong growth, higher than the
announced objective, later revised upward, again demonstrating the
pertinence of its business model and resilience to the fluctuating
environment.
Global Turnover
Activity by Geographic
Region
Total
consolidated turnover
(in € million) |
FY
2014-2015 |
FY
2013-2014 |
Current Exchange rate |
Constant scope of consolidation and exchange rates |
Q4
2014 -2015 |
Q4
2013 -2014 |
Current Exchange rate |
Constant scope of consolidation and exchange rates |
Europe
Zone |
1,281.3 |
1,281.- |
0.-% |
0.-% |
326.1 |
335.7 |
- 2.9% |
- 3.-% |
Non-Europe Zone |
700.6 |
640.1 |
9.4% |
12.5% |
167.1 |
139.3 |
20.-% |
14.1% |
Total |
1,981.8 |
1,921.1 |
3.2% |
4.1% |
493.2 |
475.- |
3.8% |
2.2% |
Activity by Operating
Segments
Total
consolidated turnover
(in € million) |
FY
2014-2015 |
FY
2013-2014 |
Current Exchange rate |
Constant scope of consolidation and exchange rates |
Q4
2014 -2015 |
Q4
2013 -2014 |
Current Exchange rate |
Constant scope of consolidation and exchange rates |
Canned |
1,023.6 |
1,025.1 |
- 0.1% |
2.3% |
235.5 |
243.5 |
- 3.3% |
- 2.7% |
Frozen |
561.9 |
527.8 |
6.5% |
5.2% |
146.3 |
127.6 |
14.7% |
7.2% |
Fresh processed |
396.3 |
368.2 |
7.6% |
7.6% |
111.4 |
103.9 |
7.2% |
7.2% |
Total |
1,981.8 |
1,921.1 |
3.2% |
4.1% |
493.2 |
475.- |
3.8% |
2.2% |
The group's turnover stands at
1,981.8 million of Euro for FY 2014-2015 (1st of
July 2014 - 30th of June
2015) against 1,921.1 million of Euro last FY, an increase of 4.1%
at constant exchange rates, higher than the annual objective
revised upward in February to 2 to 3 % at constant rates. After
taking into account the adverse impact of currencies that is - 17.5
million of Euro and - 0.9%, mainly related to a 20% devaluation of
the rouble, the group reports a growth of + 3.2% on published
figures.
The group thus experienced 4 quarters of growth, last quarter
reporting an increase of + 2.2% on a like-for-like basis* and of +
3.8% on published figures and saw, over the full FY, all its
operating segments - canned, frozen and fresh processed - growing
on a like-for-like basis*.
Europe
Zone
The turnover of the Europe zone
(65% of the total turnover) reported a stability both on a
published and constant basis.
This stability masks the strong sales of branded products:
Bonduelle and Cassegrain in all the various operating segments of
the group driven by innovation (broadening of the Cassegrain range,
sustainable development of the line of steamed products, renewal of
the retail frozen ranges and success of the snacking range in the
delicatessen segment notably) and by the reinforcement of the
presence of the group in the media. This dynamic allowed the group
to strengthen its market position in globally stable
markets.
Some voluntary declines in volumes for the canned private label
segment as a result of unsatisfactory price levels, and a food
service segment remaining difficult for the frozen category explain
the overall development of the zone.
Non-Europe
Zone
Despite adverse exchange rate
movements, the Non-Europe zone (35% of the total turnover) reported
a published growth of + 9.4% and a 12.5% growth at constant
exchange rates in line with past performances.
In Northern America, affected by the fire at the plant of Tecumseh
in the middle of harvest season, Bonduelle continued to consolidate
its positions in Canada, in a better market environment, and its
strong expansion in the US of its frozen operating segment in
retail and food service. The investments and productivity gains
obtained in the plants acquired in 2012, coupled with the
acquisition of the Lethbridge plant over the FY support the volume
growth and the continued market share gains.
In Eastern Europe, the group recorded once again a strong turnover
growth. Essentially locally produced, the Russian activity has not
suffered from the embargo measures and the rouble devaluation,
highlighting here the relevance of the set-up of a local production
plant in 2004 and reinforced by the external growth in 2012. The
activity in Ukraine, where the group only has a commercial
presence, obviously impacted by the geopolitical context, is not
significant.
In Brazil, with a turnover accounting for less than 2% of the
group, Bonduelle continued its business growth despite a
substantial slowdown in consumption and price levels remaining
low.
Outlooks
The outstanding commercial
performance recorded over this FY supports the growth prospects for
the current operating result of 2014-2015, reviewed upward in
February to + 7 to +12 % at constant exchange rates.
* at constant
scope of consolidation and exchange rates
Next financial event:
- 2014-2015 FY
Results
:
29th of September
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 Euronext compartment B
- Indices: CAC MID & SMALL - CAC ALL-TRADABLE - CAC ALL
SHARES
Code ISIN: FR0000063935 - Code Reuters: BOND.PA -
Code Bloomberg: BON FP
AvisFinancier150804enGB
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information contained therein.
Source: BONDUELLE via Globenewswire
HUG#1943237
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