Bonduelle has put out the First Half Year 2020-2021 financial results.
The 2020-2021 half-year financial statements were approved by the General Partner, then reviewed by the Supervisory Board of February 25, 2021 and by the Statutory Auditors.
Guillaume Debrosse, Chief Executive Officer, stated:
"This first half of the year was marked by a still volatile economic environment and the persistence of the Covid-19 global pandemic. Nevertheless, in this context, the Bonduelle Group, with its diversity of
technologies, distribution channels and geographical areas, continues to show resilience in its business activity and results and is continuing on its path: we want to become a company that combines financial performance and positive impact, and are aiming for B Corp. certification."
"A strong feeling unites us: never before has the framework of the actions we are taking to become a company with a positive impact been as relevant as it is today. In the unprecedented circumstances
of the sanitary crisis, it gives meaning to the commitment of our teams, creates value for our stakeholders and ensures better risk management.”
The Bonduelle Group's revenue stands for the 1st half of financial year 2020-2021 at € 1,441.5 million, flat at -0.1% on reported figures and an increase of +3.9% on a like for like basis(2). The negative effects of currency exchange rates contributed to -4.-% on the reported 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.
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.
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.