Six months net profit € 23.3 millions - Up 31.9 %
Highlights
● Turnover €262.1 million in Q2 up 11.5%, and €396.1million in H1 up 14.2%
● Growth in like for like sales in Q2 up by 5.2% and in H1 up by 4.9%
● EBITDA €38.1 million in Q2 up 9.7% and €45.4 million in H1 up 18.7%
● Growth in like for like EBITDA in Q2 up 5.0% and in H1 up 10.0%
● EBITDA margin stable at 14.5% in Q2
● Net profit €22.5 million in Q2 up 15.7% and €23.3 million in H1 up 31.9%
● Acquisitions have been integrated well, strengthening key pillars of Alfesca
business and increasing market share
● Raw material price increases adversely affected the results of duck and blini
and spreadables products
Xavier Govare, CEO:
“Our results for the all important second quarter and also the first half of
our financial year were satisfactory and particularly encouraging for three
reasons.
First, the good results are significant as they were delivered over the most
important period of Alfesca‟s financial calendar due to the seasonality of our
smoked salmon and foie gras sales favouring the second quarter period.
Secondly, the solid results illustrate the relevance of our redefined strategy
and focus based on four core pillars, each with its own cycle and specific
risks. This recognition and organisation has a stabilising effect for the
Group, as each pillar complements the other and has allowed for the smooth
integration of the recent acquisitions.
Thirdly, the increased activity and good results have been achieved in an
exceptionally poor trading environment not experienced in recent times due to
steep increases in commodity prices and reduced consumption over an
unseasonally wet summer and Christmas period.
The good results in each of our four pillars have been driven by our continued
focus on innovation and increased competitiveness.
The trading environment and market conditions for the rest of the 2008 calendar
year will be very difficult. Whilst we progress with our plans to further
strengthen Alfesca and increase shareholder value, our results demonstrate that
Alfesca is well positioned and able to manage the adverse conditions. We are
confident that Alfesca will continue to deliver satisfactory results in the
second half of the financial year.”
Enquiries:
Philippe Perrineau
Chief Financial Officer
+354 477 7000
Antony Hovanessian
Business Development Director
+354 477 7000
Hrefna Ingolfsdottir
Head of Corporate Communication
+354 477 700
