BON Bonduelle

 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 1 - FY 2015-2016 Turnover
(1^st of July - 30^th of September 2015)

Growth in line with annual forecasts

The Bonduelle Group's turnover for quarter 1 of FY 2015-2016 stands at 462.9 million of Euro, an increase of + 0.9% on a like for like basis*. After taking into account the adverse impact of exchange rates, -1.2% (positive impact of US and Canadian dollars, negative impact of the rouble), the published growth stands at - 0.3%.

Activity by Geographic Region

Activity by Operating Segments

Europe Zone

The Europe zone's turnover remains virtually unchanged at - 0.4% both on a like for like basis* and reported figures.
This performance, recorded despite the sharp turnover decrease of sales in the private labels canned segment due to the termination of unprofitable contracts, was made possible thanks to:

• The excellent increase of sales of cans for the Bonduelle and Cassegrain brands over Q1 (+ 7.7%);
• A frozen operating segment returning to positive growth over Q1 thanks to the retail sales dynamism of the Bonduelle brand and a positive growth trend in the food service segment;
• The sharp growth recorded in the fresh processed operating segment (bagged salads, prepared salads and snacking) at + 9.2%, confirming over this quarter the performance achieved in 2014-2015, and this, despite the pretty high basis of comparison. The Bonduelle brand, historically a challenger, has now become the brand #1 for the bagged ready-to-eat salads in France; the 3 countries served (Italy, Germany and France) showing positive developments.

Non-Europe Zone

The Non-Europe zone's turnover over Q1 recorded a 3.7% growth on a like for like basis* and -0.1% based on reported figures.
The slowdown observed since the beginning of 2015 in the Russian consumption levels has impacted Q1 turnover, a decline over the period due primarily to high basis of comparison and a summer period, traditionally of low activity.
In the Americas, in particular in North America, the strong growth recorded in 2014-2015 was confirmed over the quarter.

Outlook

The performance recorded in Q1 of a 2015-2016 financial year, shaken by many uncertainties about the economic environment and consumption levels, and the result of the spring 2015 harvest are in line with the expectations of the group. The Bonduelle Group confirms its objective of a moderate growth of its turnover and current operating profitability on a like for like basis* announced on the 29^th of September 2015 when the 2014-2015 Annual Results were released.

*at constant scope of consolidation and exchange rates

Next financial events

- Annual General Meeting:                                3^rd of December 2015
- 2015-2016 1^st Half Year Turnover:                     4^th of February 2016 (prior to stock exchange trading session)
- 2015-2016 1^st Half Year Result:             1^st of March 2016 (prior to stock exchange trading session)

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