French food manufacturer Bonduelle has had an excellent fiscal year, with turnover up 5.5 % and European activities overcame a dip and grew again. The canned foods branch grew the most.
1.92 billion euro turnover
The Dunkirk-based company reached a 1.9211 billion euro turnover in its broken fiscal year (1 July 2013 - 30 June 2014), which is a 5.5 % increase excluding exchange rate fluctuations.
The bulk of the growth was found outside of Europe (+ 12.4 %), mainly in Canada and the United States, while Brazil seems to have hit its saturation point. Bonduelle's European activities seem to have overcome the worst: it had to deal with a 0.8 % European slump last fiscal year, but it has returned to growth now (+ 2.3 %).
Its canned foods branch is still the largest branch, with a 1.025 billion euro (+ 6.7 %) turnover, almost twice the size of its frozen foods branch (+ 5.9 % to 527.8 million euro). It is three times as large as the fresh foods branch (+ 1.5 % to 368.2 million euro). Including exchange rate effects, there is a 1.2 % drop in the frozen foods branch and a stabilization (- 0.1 %) for fresh foods.
Growth speed in fourth quarter
Bonduelle's fourth quarter was exceptionally well, with a 6.5 % growth. Considering the "excellent commercial activity in the fourth quarter", the group expects a 10 to 107 million euro company profit, but final results will only be revealed on 30 September.
"Despite Northern America suffered from a late winter and high rainfall, everywhere the crops are satisfactory and should enable to reach the production programme set for summer 2014, especially high due to a very low stock level at the start of the campaign", the company said.
Regarding the decision from the European Commission that imposes fines for anti-competitive practices in the market for the sale of canned mushrooms under retailer brand in the European Economic Area: "This decision will impact the profitability for the financial year 2013-2014 by € 32 million. [...] This amount, while significant, will not threaten the Bonduelle Groupʼs financial health.