BONDUELLE - Quarter 3 FY 2013-2014 Turnover: Solid performance of the Bonduelle Group

BONDUELLE

A French SCA (Partnership Limited by Shares) with a capital of 56,000,000 Euros - Head Offices: La Woestyne 59173 Renescure, France
Business registration number: B 447 250 044 (Dunkerque Registrar of Businesses) - finance@bonduelle.com

Quarter 3 FY 2013-2014 Turnover
(1st of January - 31st of March 2014)

Solid performance of the Bonduelle Group for Quarter 3
Turnover growth: + 5.6%*

The Bonduelle Group's turnover stands at € 458.4 million for the third quarter of FY 2013-2014, a growth of + 5.6% on a like for like basis* and + 1.5% after adjustment for currency exchange rates.
This acceleration in growth of the group, achieved despite an unfavourable calendar effect (Easter falling in the fourth quarter) and an economic, geopolitical, ever-changing and unsettled climate, allows to report an increase up by + 5.1% on a like for like basis* and by + 1.1% on reported figures for the first 9 months of FY 2013-2014.

Activity by Geographic Region

Total consolidated turnover
(in € millions)9 months
2013-20149 months
2012-2013Current
exchange ratesConstant scope of consolidation and exchange ratesQ3 FY
2013-2014Q3 FY
2012-2013Current
exchange ratesConstant scope of consolidation and exchange ratesEurope Zone         945.3 937.9 + 0.8% + 1.8% 312.7 308.- + 1.5% + 1.6% Non-Europe Zone 500.8 493.- + 1.6% + 12.-% 145.7 143.5 + 1.5% + 15.1% Total1,446.11,430.9+ 1.1%+ 5.1%458.4451.5+ 1.5%+ 5.6%

Activity by Operating Segments

Total consolidated turnover
(in € millions)9 months
2013-20149 months
2012-2013Currentexchange ratesConstant scope of consolidation and exchange ratesQ3 FY
2013-2014Q3 FY
2012-2013Currentexchange ratesConstant scope of consolidation and exchange ratesCanned 781.6 751.3 + 4.-% + 7.3% 234.8 232.9 + 0.8% + 4.7% Frozen 400.2 409.5 - 2.3% + 4.5% 135.8 133.6 + 1.6% + 8.7% Fresh processed 264.3 270.1 - 2.2% + 0,-% 87.8 85.- + 3.2% + 3.2% Total 1,446.11,430.9+ 1.1%+ 5.1%458.4451.5+ 1.5%+ 5.6%

Europe Zone

Despite an unfavourable calendar effect, the Europe zone (65 % of cumulated 9 months sales) posted positive growth of + 1.6%* over Quarter 3.
This improvement, when compared to last quarter (+ 1,-%), is driven primarily by a steady sales performance of the canned operating segment, both brand (Bonduelle and Cassegrain) and private labels and by the fresh processed segment returning to positive growth thanks to a significant recovery of the bagged ready-to-eat salad activity in Italy.
Conversely, the frozen activity remains affected by a gloomy food service sector that is offset, in part only, by an impressive growth of the frozen Bonduelle brand in retail sales.

Non-Europe Zone

In the non-Europe zone (35 % of cumulated 9 months sales), growth accelerated in Quarter 3, up by + 15.1%*, driven by a strong sales development in Northern America (frozen market expansion in the USA, sustained activity in Canada) and in Brazil over Quarter 3.
Eastern Europe continues to show strong growth despite a geopolitical context affecting the consumption climate.

Outlooks

The first nine months of activity and the success of the complete meal tray offer in "fresh snacking" allow to confirm the objective raised in February 2014 of achieving a turnover growth of + 4%, at constant exchange rates, and an all time high current operating profit of € 106-107 million, again at constant exchange rates.

* at constant currency exchange rate and scope of consolidation basis

Next financial events:

- 2013-2014 FY Turnover               :  7th of August 2014 (prior to stock exchange trading session)
- 2013-2014 FY Results                :  30th of September 2014 (prior to stock exchange trading session)

About Bonduelle

Bonduelle, a family business, was established in 1853. Its mission is to be the world reference in "well-living" through vegetable products. Prioritising innovation and long-term vision, the group is diversifying its operations and geographical presence. Its vegetables, grown across more than 128,000 hectares all over the world, are sold in 100 countries under various brand names and through various distribution channels and technologies. Expert in agro-industry with 57 industrial sites or own agricultural production, Bonduelle produces quality products by selecting the best crop areas close to its customers.
Bonduelle is listed on the NYSE - Euronext compartment B - Indices: CAC MID & SMALL - CAC ALL-TRADABLE - CAC ALL SHARES
Code ISIN: FR0000063935 - Code Reuters: BOND.PA - Code Bloomberg: BON FP

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