Prepared-vegetable firm Bonduelle has reported a 2.7% increase in like-for-like revenue, to €2.4 billion, for its full financial year to 30 June 2024.
On a reported basis, revenue declined 1.4% compared to the previous financial year.
In the fourth quarter, Bonduelle reported revenue growth of 2.6% on a like-for-like basis and 0.5% on a reported basis.
Volumes remained negative during the reported quarter, due to unfavourable weather in June impacting demand.
Bonduelle does not expect to meet its annual revenue growth target despite witnessing moderate sales growth over the last two quarters.
However, the company has confirmed its objective of increasing recurring operating income on the back of good performance of its branded activities, effectiveness of internal productivity, and cost-control initiatives.
Divisional Performance
The Europe Zone accounted for 65.7% of Bonduelle's business activity during the financial year 2023-2024.
The business unit posted revenue growth of 3.3% on reported figures and 2.9% on a like-for-like basis.
In the fourth quarter, it saw a marked slowdown in business activity with a decline in sales volumes.
The canned and frozen private-label ranges witnessed a significant decline in sales due to occasional changes in supply policies.
The branded business saw significant growth over the period in both volumes and value, across the retail and foodservice channels.
In the fresh processed (bagged salads) and the fresh prepared segments, full-year turnover remained stable, with salads in Italy and fresh prepared segments reporting growth.
The Non-Europe segment saw a 2.4% like-for-like increase in revenue with the Eurasia region continuing to grow both in volume and in value.
The company attributed this performance to the growth of the Bonduelle canned brand and sustained acceleration in frozen food in retail.
