BONDUELLE - First Half Year 2013-2014 Turnover: Turnover in line with the annual objectives
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 2013-2014 Turnover
Turnover in line with the annual objectives
Quarter 2 registered turnover growth: + 5.4%*
The Bonduelle Group's turnover stands at € 987.7 million for the first 6 months
this FY (1(st) of July 2013 - 31(st) of December 2013), an increase of + 4.9% on
a like for like basis* and + 0.9% on reported figures, after adjustment for
scope of consolidation and currency exchange rates. Quarter 2 recorded a growth
of + 5.4% and + 1.-% respectively.
Activity by Geographic Region
+------------+---------+---------+--------+-------------+---------+---------+--------+-------------+
| Total | | | Â | Constant | | | | Constant |
|consolidated| Â | Â |Current | scope of | 2(nd) | 2(nd) |Current | scope of |
| turnover |1(st) HY |1(st) HY |exchange|consolidation| quarter | quarter |exchange|consolidation|
| (in € |2013-2014|2012-2013| rates |and exchange |2013-2014|2012-2013| rates |and exchange |
| millions) | | | | rates | | | | rates |
+------------+---------+---------+--------+-------------+---------+---------+--------+-------------+
|Europe Zone | 632.6 | 629.9 | + 0.4% | + 2.-% | 328.9 | 331.5 | - 0.8% | + 1.-% |
+------------+---------+---------+--------+-------------+---------+---------+--------+-------------+
|Non-Europe | 355.1 | 349.4 | + 1.6% | + 10.7% | 207.1 | 199.4 | + 3.8% | + 13.4% |
|Zone | | | | | | | | |
+------------+---------+---------+--------+-------------+---------+---------+--------+-------------+
|Total | 987.7 | 979.3 | + 0.9% | + 4.9% | 536.- | 530.9 |+ 1.- % | + 5.4% |
+------------+---------+---------+--------+-------------+---------+---------+--------+-------------+
Activity by Operating Segments
+------------+---------+------+--------+-------------+---------+---------+--------+-------------+
| Total | | Â | | Constant | | | | Constant |
|consolidated| Â |1(st) |Current | scope of | 2(nd) | 2(nd) |Current | scope of |
| turnover |1(st) HY | HY |exchange|consolidation| quarter | quarter |exchange|consolidation|
| (in € |2013-2014| 2012-| rates |and exchange |2013-2014|2012-2013| rates |and exchange |
| millions) | | 2013 | | rates | | | | rates |
+------------+---------+------+--------+-------------+---------+---------+--------+-------------+
|Canned | 546.8 |518.4 | + 5.5% | + 8.5% | 313.4 | 298.5 | + 5.-% | + 8.4% |
+------------+---------+------+--------+-------------+---------+---------+--------+-------------+
|Frozen | 264.4 |275.8 | - 4.1% | + 2.5% | 138.4 | 144.2 | - 4.-% | + 3.1% |
+------------+---------+------+--------+-------------+---------+---------+--------+-------------+
|Fresh | 176.5 |185.1 | - 4.6% | - 1.6% | 84.2 | 88.2 | - 4.6% | - 1.-% |
|processed | | | | | | | | |
+------------+---------+------+--------+-------------+---------+---------+--------+-------------+
|Total | 987.7 |979.3 | + 0.9% | + 4.9% | 536.- | 530.9 | + 1.-% | + 5.4% |
+------------+---------+------+--------+-------------+---------+---------+--------+-------------+
Europe Zone
In Europe, the turnover stands at € 632.6 million, an increase of + 2.-% on a
like for like basis* and + 0.4% on reported figures over the period. Quarter 2
reported an increase of + 1.-% and - 0.8% respectively.
In a consumption climate showing no real sign of dynamism and remaining
volatile, the canned operating segment is nevertheless registering a growth,
thanks to the development of the innovative branding product categories
(Bonduelle "Vapeur" category, Cassegrain and mushrooms). A solid activity, for
this segment, is also observed in the private label sector.
The Europe Zone remains affected by the fresh activity, especially in Italy with
the fresh-cut packaged salads category, despite some signs of recovery, and by
the slowdown of the frozen activity in the catering segment over Quarter 2.
In France, the retail activity for frozen and fresh branding products remains
positive.
Non-Europe Zone
Outside the Europe Zone the turnover stands at € 355.1 million, an increase of +
10.7% on a like for like basis* and + 1.6% on reported figures. Quarter 2
recorded a strong acceleration of + 13.4% and + 3.8% respectively.
Despite an economic slowdown in the Eastern and Brazilian zones, the Bonduelle
Group confirmed, over Quarter 2, the solid growth and market shares gains
recorded in the previous quarters, especially in Russia, where Quarter 2 usually
shows a peak of activity.
In Northern America, the Bonduelle Group pursues its steady growth both in its
historical perimeter and in the USA. In the latter, the expansion of volume of
the frozen activity, following the acquisition of Allens in 2012, and prices
levels are in line with the targets.
Outlooks
Based on recorded activity level over the first six months, the Bonduelle Group
reiterates the annual turnover growth objective of 3 to 5 % on a like for like
basis*.
The half year results that will be published on the 26th of February 2014, shall
enable to refine the forecast for the 2013-2014 FY operating result.
* at constant currency exchange rate and scope of consolidation basis
Next financial events:
- 2013/2014 Half FY Results    :    26(th) of February 2014 (prior to
stock exchange trading session)
- 2013/2014 3(rd) Quarter FY Turnover    :     6(th) of May 2014 (prior
to stock exchange trading session)
About Bonduelle
Bonduelle is the world leader of ready to eat vegetable in all their shapes and
forms using all kind of technologies (canned, frozen, fresh prepared) with
national brands (Bonduelle, Cassegrain, Arctic Gardens, Globus) and private
labels for retailers and food service. Bonduelle stands as an agro-industrial
player of reference with over 50 agro-industrial sites, selling in 100
countries.
Bonduelle is listed on the NYSE - Euronext compartment B - Indices: CAC MID &
SMALL - CAC ALL-TRADABLE - CAC ALL SHARES
Code ISIN: FR0000063935 - Code Reuters: BOND.PA - Code Bloomberg: BON FP
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