The Bonduelle Group's turnover stands for the 1st half of financial year 2016-2017 at 1,025.6 millions of euro, a growth of +1.9% on a like-for-like basis* and of +1.4% based on reported figures. Quarter 2, marked by a slowdown of economic activity in Europe at the end of the period, and a high comparison basis in Russia, was down by 0.3%* and 0.5% respectively.
Stable turnover in Europe:
For the first half of FY 2016-2017, the Europe zone's turnover remains virtually unchanged at - 0.8% on a like for like basis* and - 0.9% based on reported figures. The canned operating segment experienced a downturn over quarter 2 that was related to the lower promotional activities which were largely linked, in turn, to the harvest deficits registered in Summer 2016. The frozen segment achieved positive growth over the period, witnessing the recovery of the food service activity. Lastly, the fresh processed (delicatessen) and ready to eat (fresh-cut salad in bags) segment showed an overall stability in sales linked to an Italian market for fresh-cut salad in bags that continued to be difficult and the deterioration of production conditions in Spain (floods) at the end of the period. As for the delicatessen segment, a return to strong positive growth was observed in the second quarter.
Non-Europe Zone
The Non-Europe zone’s turnover recorded a 6.6% growth on a like for like basis* and 5.3% based on reported figures over the first 6 months. The increase in activity amounted to +2.8% on a like for like basis* in quarter 2 as a result of a high basis for comparison notably in Russia (anticipation of a price increase in January 2016) coupled with a consumption climate for this zone showing no real signs of recovery.
In North America, the activity continued to experience strong growth, notably in Canada. In South America, the repositioning of the canned range enabled the group
to resume growth.
Outlooks
The growth recorded over this first half year, close to the annual objective ( + 2 to + 3% on a like for like basis*), should enable the group, when publishing the half year results, to confirm its annual objective of a stability of the operating result at constant exchange rates.