Bonduelle: First half Year 2020-2021 financial results

The Bonduelle Group's revenue stands for the 1st half of financial year 2020-2021 at € 1,441.5 million, stable at -0.1% on reported figures and an increase of +3.9% on a like for like basis*.

The negative effects of currency exchange rates contributed to -4.-% on the published variation for the 1st half of the financial year, explained by a strengthening of the Euro, particularly against the Russian rouble and the US and Canadian dollars. No change in the group's scope of consolidation occurred over the period.

Second quarter revenue posted an increase of +0.4% on reported figures and +5.8% on a like for like basis*, with all three technologies making a positive contribution over the period on a constant consolidation scope and exchange rate basis.

Europe Zone
The growth of revenue for the Europe Zone, representing 45.-% of the business activity over the period, posted for the 1st half of the financial year a global change of +1.2% on reported figures and +1.5% on a like for like basis*.

Changes in the second quarter amounted to +3.2% and +3.7% respectively. Long life operating segments (canned and frozen food) in the retail business activity posted robust growth over the 1st half of the year and even more so in the second quarter, particularly in the  branded products (Bonduelle and Cassegrain), due to the sanitary crisis and its related measures (curfews, etc.) leading to a renewed interest in these product categories with long shelf lives.

This phenomenon has made it possible to absorb the sharp drop in activity in the food service business segment, particularly noticeable in frozen food, still at a standstill over the period (closure of commercial catering, home-working, etc.) and in fresh food, this market declined significantly, in the 3 related countries (France, Italy, Germany), as a result of lower in-store traffic, the driving force behind the purchasing act. Taking into account the seasonality of production and the once again difficult crops observed in the summer of 2020, the high level of activity recorded at the beginning of the financial year could be reduced, in the long term, by product shortage, and therefore a loss of sales in the spring of 2021 on a high basis of comparison.

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For more information:
Twitter @Bonduelle_Group
Financial news @BonduelleCFO


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