The Bonduelle Group’s revenue for the 1st half year 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.
Business activity growth for the 2nd quarter boosted compared with the 1st quarter. Currency variations had a negative impact on revenue growth of -6.9%, mainly due to the depreciation of the Russian ruble and, to a lesser extent, the US dollar.
Europe Zone
The Europe Zone representing 64.8% of the business activity over the period, posted overall growth of +6.4% on reported figures and +5.9% on a like-for-like basis* over the 1st half year, with all technologies showing growth over the period. Variations for the 2nd quarter were respectively +5.3% on reported figures and +4.7% on a like-for-like basis*.
The downturn in volumes remains limited in the region despite a significant weakness in food consumption. In canned and frozen retail activity, the private label category grew in both volume and value, while branded products (Bonduelle and Cassegrain) increased in value but fell back in volume.
The food service activity continued to grow, in both volume and value. The fresh processed segment (bagged salads) was virtually stable in volume, but grew in value in retail. However, the situation varied from one region to another, with France affected by bad weather leading to a lower service rate. Germany is operating in a difficult market context while Italy is recording solid growth. Fresh prepared segment posted growth over the period, fueled by range renovations.
Non-Europe Zone
The Non-Europe Zone revenue representing 35.2% of the business activity over the period, posted an overall decline of -15.4% on reported figures and +2.5% on a like-for-like basis*. The activity was clearly penalized by the translation effects of the Russian ruble, which lost an average of 40% of its value between the 1st half of the 2023-2024 fiscal year and the same half of the previous fiscal year. Changes in the 2nd quarter amounted to -17.1% on reported figures and +4.9% on a like-for-like basis*.
In the Eurasia region, the canned activity remained sustained in terms of volume and value, for both branded products (which are largely predominant in the region) and private label category. The frozen activity recovered significantly over the last quarter and now shows sustained growth in volume and value over the period as a whole. In North America, the decline in fresh processed products remained more limited than in the same period last year, due to negative market trends. In this context, branded complete meal solutions based on salads as well as salad kits (salad bags with ingredients) posted significant market share gains.
For more information:
Bonduelle Group
La Woestyne 59173
Renescure, France
www.bonduelle.com