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)
Quarter 3 FY 2012/2013 Turnover
Significant slowdown in activity in Europe: -2.9%*
Robust activity outside Europe: +7.2%*
For quarter 3 (1st of January 2013 - 31st of March 2013), the Bonduelle Group's turnover recorded a 5% growth on reported figures, -0.3% on a like for like basis*, after adjustment for currency exchange rates (-0.1%) and scope of consolidation (+5.3%).
Turnover
Activity by Geographic Region
| Consolidated Revenues (in € million) | 9 months 2012-2013 | 9 months 2011-2012 | Reported figures | LFL basis | FY Q3 2012-2011 | FY Q3 2011-2012 | Reported figures | LFL basis |
| Europe Zone | 937.9 | 952.5 | - 1.5 % | - 1.1 % | 308.- | 321.2 | - 4.1 % | - 2.9 % |
| Non-Europe Zone | 493.- | 357.1 | 38.- % | 7.8 % | 143.5 | 108.7 | 32.- % | 7.2 % |
| Total | 1,430.9 | 1,309.6 | 9.3 % | 1.4 % | 451.5 | 429.9 | 5.- % | - 0.3 % |
Business Operating Segments
| Consolidated Revenues (in € million) | 9 months 2012-2013 | 9 months 2011-2012 | Reported figures | LFL basis | FY Q3 2012-2013 | FY Q3 2011-2012 | Reported figures | LFL basis |
| Canned | 751.3 | 719.7 | 4.4 % | 2.8 % | 232.9 | 230.- | 1.2 % | 1.1 % |
| Frozen | 409.5 | 311.5 | 31.5 % | 1.- % | 133.6 | 106.3 | 25.6 % | 1.1 % |
| Fresh processed | 270.1 | 278.4 | - 3.- % | - 1.8 % | 85.- | 93.6 | - 9.1 % | - 5.8 % |
| Total | 1,430.9 | 1,309.6 | 9.3 % | 1.4 % | 451.5 | 429.9 | 5.- % | - 0.3 % |
Europe Zone
For quarter 3, the turnover of the Europe Zone (66% of the sales) recorded -4.1% on reported figures and -2.9% on a like for like (LFL) basis*. Over this third quarter, many countries of the Europe Zone were clearly affected by a consumption slowdown. This unfavourable climate had a negative impact on all of the technologies and distribution networks, despite the resilience of brands activities, especially in the frozen retail and food service markets. The high level of activity recorded last financial year, especially for the canned operating segment and the poor weather conditions affecting the fresh operating segment have without a doubt had an impact on the performance.
Non-Europe Zone
For quarter 3, the turnover of the Non-Europe Zone (34% of the sales) recorded a 32% growth on reported figures and +7.2% on a LFL basis*. Despite usual lower activities in quarter 3, Eastern Europe remained extremely dynamic. In Northern America, a recovery in sales was observed in Canada and in the USA the development of the activity is on-going thanks to the acquisition of Allens. In Southern America, the activity continues its steady rise and market shares keep increasing.
The acute difference of growth between these two zones reflects the macro economic climate and confirms the relevance of the Group strategy of internationalization outside Europe.
Quarter 3 highlights
Bonduelle's nominal share value split
In accordance with the adoption of the resolution at the Annual General Meeting on the 6th of December 2012, the General Partners subdivided, on the 28th of March 2013, the Bonduelle's share nominal value by 4, going from €7.00 to €1.75 and therefore swopping each current share of €7.00 to 4 new shares of € 1.75 while keeping the same rights, hence resulting in the number of shares being multiplied by 4.
Please note that the stock options, bonus shares and BSAAR have been adjusted accordingly.
The objective of this operation is to facilitate the access to Bonduelle's capital to new shareholders and to increase its share liquidity.
Outlook
Despite the recent evolution of the uncertain and volatile consumption climate and providing that there are no further adverse economic climate circumstances, the Bonduelle Group is reiterating its current operational profitability objective announced in October 2012 and confirmed in February 2013.
* at constant currency exchange rate and scope of consolidation basis
Next financial events
- 2012/2013 FY Turnover : 6th of August 2013 (prior to stock exchange trading session)
- 2012/2013 FY Results : 3rd of October 2013 (prior to stock exchange trading session)
