On the occasion of the publication of their Q3 FY 2019-2020 revenue, Christophe Bonduelle, Chairman, and Guillaume Debrosse, Chief Executive Officer, of the Bonduelle Group said:
"The health crisis should not have been coupled with a food crisis, the premises of which have been measured at the start of containment, and which could have degenerated into a panic. Our employees were present in all of the group's plants, with flawless collaboration from employee representative bodies to put in place appropriate health protection measures. Their main drivers of engagement have been Responsibility and Pride in assuming a rediscovered role as essential after years of food bashing against them... hoping, moreover, that this crisis will have been an opportunity for consumers to rediscover the quality, safety, diversity, accessibility and virtues of ready-to-eat vegetables! We would like to congratulate and thank the teams for their professional conscientiousness which encouraged them not to "stay at home", unless it was impossible to attend."
The Bonduelle Group's revenue stands, for Q3 of financial year 2019-2020, at € 761.2 million, an increase of +12.7% on reported figures and +10.6% on a like for like basis* after taking into account exchange rate variations, mainly the appreciation of the U.S. and Canadian dollars and, to a lesser extent, the Russian ruble. No change in the group's scope of consolidation occurred over the quarter.
Over the first 9 months of this FY, the revenue stands at € 2,203.5 million, an increase of 5.8% on reported figures and 3.8% on a like for like basis* as a result of favorable exchange rate movements.
The revenue of the Europe Zone, representing 44.9% of the group's revenue over the first 9 months, recorded an overall aggregated growth of +3.6% both on reported figures and like for like basis. Over quarter 3 revenue rose +11.5% on reported figures and +11.6% on a like for like basis*. At the end of February 2020, i.e. over the first two months, third quarter revenue remained virtually stable compared
with last FY year, both on reported figures and like for like basis*.
This strong growth is therefore largely explained by the context of the Covid-19 pandemic and linked to precautionary purchases made in mass retail in March by consumers of canned and, to a lesser extent,
frozen food. On the latter technology, the abrupt shutdown of food service activities as of mid-March in many countries has started to weigh on the segment and should impact it even more strongly in quarter 4. Finally, the fresh segment (fresh-cut bagged salads, ready-to-eat prepared salads) also suffers in this context from the decline in food service activity but also from a lack of attendance at points of sale and a reduced consumer appetite for products with a shorter shelf life.
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