Core Insights - The Bonduelle Group reported a strong growth of +17.8% in current operating income for the first half of the 2024-2025 fiscal year, amounting to 48 million euros, compared to 40.6 million euros in the previous fiscal year [4][22] - Despite a slight decline in overall sales, branded activities showed a growth of +1.9%, highlighting the strategic importance of brand development [6][10] - The company confirmed its annual objectives despite challenges such as poor agricultural harvests in Russia impacting profitability in the second half of the fiscal year [7][38] Financial Performance - Total sales for the first half of fiscal year 2024-2025 were 1,119.4 million euros, a decrease of -1.7% compared to 1,139.2 million euros in the previous fiscal year [5][15] - The current operating margin improved to 4.3%, up from 3.6% in the previous year, reflecting operational efficiency [14][22] - Net income from continuing operations increased significantly to 17.2 million euros, compared to 6.4 million euros in the previous fiscal year, representing 1.5% of sales [29] Sales Breakdown - Sales in the Europe Zone decreased by -5.6% on reported figures, primarily due to a decline in private label canned activities [16][18] - The Non-Europe Zone experienced growth of +4.8% on reported figures, with North America returning to growth for the first time in four years [20][24] - The canned segment saw a decline of -6.7%, while fresh processed activities grew by +4.7% [17] Strategic Initiatives - The "Transform to win" transformation plan is underway, focusing on brand development and operational excellence [9][10] - The company is working towards achieving a 100% B Corp group certification by the end of the year, emphasizing its commitment to sustainability [10] - Plans to sell the packaged salad activity in France and Germany are in progress, with agreements reached regarding employee support during the transition [35][36] Financial Situation - Net financial debt stood at 664 million euros as of December 31, 2024, an increase from 649 million euros the previous year [33] - The gearing ratio increased to 1.23 from 0.95, indicating a higher level of financial leverage [33] - The average financing rate decreased to 4.12%, reflecting improved debt management [27]
Bonduelle - 2024-2025 First Half Year Financial Results: The Bonduelle Group posts growth in both its current operating income and its branded activities. Bonduelle confirms its annual objectives