Bonduelle published its first half year 2020-2021 financial results, showing a slight decrease in revenue (-0.1%) when compared to H1 2019-2020. Canned and frozen food segment in the retail business activity posted robust growth.
The Bonduelle Group’s revenue stands for the 1st half of financial year 2020-2021 at EUR1.44bn, -0.1% on reported figures and an increase of +3.9% on a like for like basis.
The current operating income of the Bonduelle Group for the period stands at EUR56.3m, up 5.2% on like-for-like basis and down 1.5% on reported figures. The Bonduelle Group further strengthened its marketing investments, increasing the visibility of its brands and resulting in significant gains in market share.
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, a company statement reads. 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.
“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. This path implies a profound transformation, a key stage of which has been reached with the inclusion in the company’s articles of association of a purpose shared with employees and shareholders: “To inspire the transition toward a plant-based diet, to contribute to people’s well-being and planet health,” Guillaume Debrosse, chief executive officer said. “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.”