The Bonduelle Group's revenue for the 1st half of fiscal year 2023-2024 amounted 1,213.1 million euros compared with 1,243.4 million euros for the 1st half of previous fiscal year, up +4.5% on a like-for-like basis and down -2.4% on reported figures.
For the 1st half of the 2023-2024 fiscal year, the Bonduelle Group posted a current operating income of 38.5 million euros at current exchange rate and 50.5 million euros at constant exchange rates compared with 43.1 million euros the previous year, representing a +17.1% increase in current operating income, on a like-for-like basis.
Thus, the group posts revenue and profitability growth in line with targets communicated in October 2023 and confirms its annual targets.
Comments from Xavier Unkovic, Chief Executive Officer: "In a particularly challenging environment where inflation remains present and weighs on household food consumption, our brands portfolio has demonstrated its resilience thanks to relevant innovations and targeted activations. Our revenue is increasing at constant exchange rates and our profitability is being maintained by the ongoing improvement in our competitiveness. At the end of this 2023-2024 1st first half year, the group's revenue growth and profitability are in line with targets communicated in October 2023."
"Our mission is more than ever aligned with consumer expectations, which place plant-rich food at the heart of consumer trends. The turnaround in profitability is an essential catalyst in our strategy of positive impact with sustainable growth and in support of this mission."
Annual shareholder's meeting - December 7, 2023
The Bonduelle Group's Annual Shareholder's Meeting held on December 7, 2023 approved the payment of a dividend of 0.25 euro per share, with effective payment on January 4, 2024, as well as the election of Rémi Duriez to replace Matthieu Duriez, whose mandate expired at this meeting, and the reappointment of Jean-Michel Thierry as members of the Supervisory Board.
Outlook
Like the whole food industry, the Bonduelle Group operates in a general context of declining consumption, weighing on sales volumes, and inflation in production costs, partly offset by limited price increases. Despite this environment, given the performance recorded in the 1st half year and all the commercial initiatives of targeted activations and promotions, the continuous improvement of our industrial efficiency and the strict control of our overheads, the Bonduelle Group confirms its objectives of revenue growth of around 5% and an increase in current operating income of around 15% on a like-for-like basis, announced in October 2023.
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For more information:
Bonduelle Group
La Woestyne 59173
Renescure, France
www.bonduelle.com