BONDUELLE
Partnership limited by shares with a capital of
57,102,699.50
euros
Head office: “La Woestyne” 59173 – Renescure
RCS
Dunkirk
447,250
044
VS
turnover of 1
er
semester 2021-2022
(1
er
July – December 31, 2021)
Sales stability in the first half that does not call into question the annual revenue growth target
-
Continued normalization of retail and out-of-home catering activity and high comparison bases penalizing performance
-
Dynamic sales of the group’s brand portfolio
-
Annual activity progress objective
confirmed tee
The turnover of 1
er
semester of the 2021-2022 fiscal year for the Bonduelle Group amounted to €1,442.8 million compared to €1,441.5 million in the first half of the previous fiscal year, i.e. virtually stable in published data (+ 0.1%) and like-for-like* (-0.4%).
Foreign exchange effects, which were negative in the first quarter, contributed favorably to growth in the second quarter, posting a total effect of +0.5% over the half-year as a whole, mainly attributable to the strengthening of the Canadian dollar over the period.
No change in scope occurred over the half-year.
The turnover of 2
th
quarter shows a change of +1.2% in published data and -0.3% like-for-like*.
Breakdown of turnover by region
|
Total consolidated turnover (in millions of euros) |
1 er semester 2021-2022 |
1 er semester 2020-2021 |
Variation at rate current exchange rates |
Variation at rate at constant exchange rates and perimeter |
2 th quarter 2021-2022 |
2 th quarter 2020-2021 |
Variation at rate current exchange rates |
Variation at t to at constant exchange rates and scope |
|
European area | 663.8 | 648,- | + 2.4% | + 2.5% | 343.3 | 333,- | + 3.1% | + 3.2% |
|
Area outside Europe | 779,- | 793.5 | – 1.8% | – 2.8% | 427,- | 428,- | – 0.2% | – 3.1% |
|
Total |
1,442.8 |
1,441.5 |
+0.1% |
– 0.4% |
770.3 |
761,- |
+ 1.2% |
– 0.3% |
Breakdown of turnover by business segment
|
Total consolidated turnover (in millions of euros) |
1 er semester 2021-2022 |
1 er semester 2020-2021 |
Variation at rate current exchange rates |
Variation at rate at constant exchange rates and scope |
2 th quarter 2021-2022 |
2 th quarter 2020-2021 |
Variation at rate current exchange rates |
Variation at rate at constant exchange rates and scope |
|
canned | 593.4 | 589,- | +0.8% | – 0.1% | 337.1 | 332.7 | + 1.3% | – 0.2% |
|
Fresh frozen | 362.9 | 332,- | +9.3% | + 8.1% | 203.1 | 179.6 | + 13.1% | + 10.7% |
|
Costs | 486.4 | 520.5 | – 6.5% | – 6.2% | 230,- | 248.6 | – 7.5% | – 8.6% |
|
Total |
1,442.8 |
1,441.5 |
+0.1% |
– 0.4% |
770.3 |
761,- |
+ 1.2% |
– 0.3% |
European area
The Europe zone, which represents 46.-% of activity over the period, posted across the whole of 1
er
semester an overall increase of +2.4% in published data and +2.5% like-for-like*. Variations under 2
th
quarter stood at +3.1% and +3.2% respectively, confirming the good momentum recorded in the first quarter.
Long-life activities (canned and frozen) continued to normalize in the second quarter, with, on the one hand, overall stability in canned sales despite a high comparison base linked to the 2
th
wave of Covid 19 and related restrictions last year, and on the other hand, a significant acceleration in frozen sales driven by out-of-home catering activities penalized the previous year by containment measures.
Fresh ready-to-eat activities saw their growth accelerate in the three main countries of operation (France, Italy and Germany), fueled by more dynamic markets in mass distribution and the recovery of out-of-home catering activities.
Area outside Europe
Revenue in the region outside Europe, representing 54.-% of activity over the period, shows a variation of -1.8% on a reported basis and -2.8% on a like-for-like basis*. Variations under 2
th
quarter stand respectively at -0.2% and -3.1%.
In North America, the canned and frozen activities recorded dynamics identical to those observed in the European zone, reinforced by more marked price increases.
The fresh ready-to-eat business remained, as in the first quarter, in decline, as a result of the continuation of a proactive policy of price increases and contract selectivity, factors of lower volumes, as part of the strategy started to improve profitability.
In the Eurasia region, the strong growth in sales in Russia and peripheral countries, which is particularly remarkable given the economic and health context in this region, is fueled both by the growth of branded canned activities (Bonduelle and Globus) and the development of bonduelle-branded frozen sales following the recent successful launches of new products.
Another highlight
Evolution of activities
long shelf life in North America
The Bonduelle Group announced on September 27, 2021 that it had initiated a reflection on the evolution of the shareholder structure of its canned and frozen activities in North America, which make up the Bonduelle Americas Long Life (BALL) business unit.
Following the various expressions of interest received in relation to these activities, the group is studying the various options likely to allow it to focus its resources on its strategic priorities, in particular the development of its branded activities, by allowing the BALL business unit to pursue its growth strategy.
Outlook
The evolution of the turnover of the first semester is in line with the expectations of the group. Achieving annual growth objectives, and consequently profitability, is conditional on the normalization of the health situation, the acceptance by distributor customers of significant price increases intended to compensate for the inflation suffered and the recomposition by the fresh in North America of a profitable customer portfolio.
*
comparable data, i.e. at constant scope and exchange rates. The turnover in currency for the period
in progress is converted at the exchange rates of the period of comparison and the impact of acquisitions (or takeovers) or disposals is treated as follows:
-
for acquisitions (or takeovers) of activities during the current period, the turnover achieved over the period since the date of acquisition is excluded from the calculation of internal growth;
-
for acquisitions (or takeovers
) of activities during the previous financial year, the turnover achieved over the current period up to 1
er
anniversary of the acquisition is excluded;
-
for disposals (or loss of control) of activities during the previous financial year, the c
the turnover achieved over the comparative period of the previous financial year up to the date of sale is excluded;
-
for disposals (or loss of control) of activities during the current financial year, the turnover achieved over the period beginning
12 months before the date of sale and up to the closing date of the comparative period of the previous financial year is excluded.
Alternative performance indicators
: The group presents performance indicators in its financial communication
not defined by accounting standards. The main indicators are defined in the financial reports available on www.bonduelle.com.
Upcoming financial events
:
– Results 1
er
semester 2021-2022
:
March 4, 2022 (before stock market)
– Turnover 3
th
quarter 2021-2022:
May 2, 2022 (after market)
About the Bonduelle Group
We want to inspire the transition to plant-based food, to contribute to human well-being and the preservation of the planet. We are a French family business with 14,700 employees and we innovate with our farming partners.
rs since 1853. Our products are grown on 124,000 hectares and marketed in 100 countries, for a turnover of €2,779 million.
Our 6 strong brands are Bonduelle, Cassegrain, Globus, Arctic Gardens, Ready Pac Foods and Del Monte.
Bonduelle is listed on Euronext compartment B
clues
Euronext:
CAC MID & SMALL – CAC
FOOD PRODUCERS – CAC ALL SHARES
Bonduelle is part of the Gaïa extra-financial performance and IAS (employee shareholding index) indices.
ISIN code: FR0000063935 – Reuters code: BOND.PA – Bloomberg code: BON FP
@ Find the news of the group
pe on
Twitter
@
Bonduelle_Group
and its financial news on @
BonduelleCFO
Attachment
Bonduelle: 1st half sales 21-22