Bonduelle turnover grew 43.9% to €690M in Q1

The Bonduelle Group's turnover stands, for the 1st quarter of financial year 2017-2018, at 690.6 million of euro, a growth of + 43.9% based on reported figures and + 2.5% on a like-for-like basis. The integration of Ready Pac Food, now Bonduelle Fresh Americas, is proving to be fully satisfactory, the activity continuing to report solid growth Bonduelle told in a release.

Overall satisfactory harvests coupled with an increase in the activity for Q1 in line with the objectives enable to confirm the expected growth of + 25% both in terms of turnover and current operating profitability at constant exchange rates and excluding new acquisition that took place over FY 2017-2018.

Europe Zone
The Europe zone, representing 45.4% of the activity over the period, recorded a slight decline of - 0.3% based on reported figures (- 0.4% on a like for like basis*), a contrasting summer affecting seasonal vegetables (corn, prepared salads) coupled with a lack of products due to the poor harvest of 2016 have impacted the sales activity of the first months of this FY, whilst at the same time the frozen operating segment is continuing its growth.

Non-Europe Zone
The turnover of the non-Europe Zone, now representing over half of the group's turnover (54.6%), recorded an increase of + 127.7% based on reported figures and + 7.9% on a like for like basis. The performance was fuelled not only by the integration of Ready Pac Food, but also by a solid growth registered in Eastern Europe over months that traditionally record low activity. The integration of Ready Pac Food and the implementation of some performance plans are proceeding according to plan, the activity recording over the period a growth of + 13.1% in US dollars.

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