The Bonduelle Group's revenue stands for the 1st quarter of FY 2019-2020 at € 684.3 million, a +0.3% increase based on reported figures and a -1.4% decrease on a like for like basis*. The exchange rate effects, contributing to an additional +1.7% growth, were mainly due to the variation in the US and Canadian dollars and the Russian rouble.
The growth of revenue for the Europe zone, representing 46.4% of the business activity over the period, posted an increase of +0.9% both on a like for like basis* and on reported figures. Growth was primarily driven by strong growth in branded activities (Bonduelle and Cassegrain) for the canned and frozen operating segments, partially offset by the business activities of the fresh ready-to use and fresh ready-to-eat segments, with a slight decrease due, in particular, to a weaker performance for the fresh segment in Germany.
Non-Europe Zone
The Non-Europe Zone revenue, representing 53.6% of the group's revenue, amounted to € 366.5 million, down -3.3% on a like-for-like basis* and -0.1% on reported figures. This change is entirely explained by the carry-over of volume losses at one customer and the discontinuation of non-contributory activities in the bagged salads and meal bowls business recorded in 2018-2019. Long shelf live business activities (canned and frozen) posted solid growth in both North America and Eurasia, boosted by the rise of the packing activity of Lebanon in the United States, and coupled with a strong brand activity in Russia, mainly for the Bonduelle brand. In Russia, the Belgorod plant started production in September, in accordance with the initial schedule.
Outlooks
Taking into account the first quarter performance and the end of harvests and despite the unfavorable weather conditions for the ready-to-use fresh and fresh products in Europe at the end of the summer, the group can confirm its objectives of sales and profitability evolution announced at the beginning of October 2019.
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Bonduelle
www.bonduelle.com