For the first time, revenues of the Bonduelle-Group rose above the mark of 2 billion Euro in the fiscal year of 2016-2017, pushed by a solid organic growth and the consolidation of Ready Pac Foods towards the end of the fiscal year.
These results mirror the strong resilience of the group, even through unfavorable circumstances - weak consumption in Europe, economic crises in emerging countries and bad harvests - and their ability to utilize promising opportunities for expansion.
Even through Ready Pac Foods has only been consolidated for one quarter, the acquisition deeply changed the profile of the group. This is also shown in their international expansion through activities outside of Europe and the development of its segment for ready-to-eat foods, as well as the search for new sources of growth with efficient investments.
In the fiscal year of 2016-2017 (July 1st, 2016 - June 30th, 2017) the group had a turnover of 2,288.1 million Euros, an increase of 16.3% with regard to the reported numbers. This was made possible by strong organic growth (2.7%) at the higher end of the previously announced goal (2 to 3%), together with an, in the end, positive exchange rate (+1%) and the integration of Ready Pac Foods on March 21st. The sales of the fourth quarter (+51,9%) showed a strong organic expansion of 4.6%.
Region Europe
In the region of Europe (55.8% of the total sales) they saw yet another growth by 0.2% with regard to the reported numbers and on a comparable level, pushed by a dynamic fourth quarter with growth of 1.6%.
The lack of products due to bad harvests in the summer of 2016 (preserves, frozen foods) and in the beginning of 2017 (Fresh Cut salads) was partly balanced out by a sunny spring, which promoted the consumption of canned corn and fresh products.
Outside of Europe
The markets outside of Europe (44.2% of the total turnover, due to the addition of Ready Pac Foods in the last quarter) reported a growth in revenue by 45.9% with regard to the reported numbers and 7.1% on a comparable level, not least because of the development of the exchange rates (+3.1%) and the consolidation scope. The strong performance of preserves and frozen foods in North America was influenced by the problems in emerging countries (especially Brazil and Russia). The slight economic recovery in Russia has yet to become visible in the food consumption. Thanks to a wide range of canned vegetables (brands Bonduelle and Globus), the group was able to successfully maintain their market share, selling prices and therefore their profitability.
Outside of Europe
The markets outside of Europe (44.2% of the total turnover, due to the addition of Ready Pac Foods in the last quarter) reported a growth in revenue by 45.9% with regard to the reported numbers and 7.1% on a comparable level, not least because of the development of the exchange rates (+3.1%) and the consolidation scope. The strong performance of preserves and frozen foods in North America was influenced by the problems in emerging countries (especially Brazil and Russia). The slight economic recovery in Russia has yet to become visible in the food consumption. Thanks to a wide range of canned vegetables (brands Bonduelle and Globus), the group was able to successfully maintain their market share, selling prices and therefore their profitability.
Ready Pac Foods, now Bonduelle Fresh Americas, reported strong growth in the fourth quarter and was able to further improve their market penetration.