French vegetable processor Bonduelle has finished its broken fiscal year with a turnover of nearly 2 billion euro turnover, up 4 % despite challenging worldwide market conditions.
Four straight trimesters with growth
Bonduelle managed a turnover of 1,981.8 million euro in its fiscal year, which ended in June 2015: 4.1 % more than last year's 1,921.1 million euro (+ 3.2 % including exchange rate fluctuations). Its fourth quarter turnover growth (+ 2.2 %) is also its fourth straight trimester with growth, despite worldwide difficulties: barely any consumption growth, plenty of European distribution concentration, a fire in a Canadian factory and the Russian embargo (and downfall of the ruble).
Its own brands, Bonduelle and Cassegrain, performed well in Europe, which represents 65 % of the company turnover. Product innovation and marketing helped achieve decent growth for these brands, but the group's European yearly turnover was almost level as the company willingly shrunk its portfolio of distributor brands because of "insufficient price levels".
Bonduelle's non-European growth is sizeable, up 12.5 % at level exchange rates, thanks to its North American activities. Among other things, Bonduelle purchased a factory in the Canadian town of Lethbridge in the past fiscal year.
At the end of September, Bonduelle's board will present the final numbers and has now forecast a 7 to 12 % operational profit. Bonduelle is active in 100 countries and has 58 production locations.