Key Takeaways
- Bonduelle Group’s FY 2022-2023 revenue reached €2,406.2 million, marking a 9.2% increase compared to the previous fiscal year.
- Current operating profitability rose by 24.8%, exceeding communicated guidance with a margin of 2.7%.
- The Europe Zone, accounting for 62.7% of the business, saw a robust revenue growth of 11.1%.
- The Non-Europe Zone experienced a growth of 6.3% in reported figures but a decline of 5.8% on a like-for-like basis.
- Xavier Unkovic takes over as the new CEO, effective June 1, 2023.
Financial Performance
The Bonduelle Group has reported a strong financial performance for the fiscal year 2022-2023, which ended on June 30, 2023. The company’s revenue amounted to €2,406.2 million, showing a 9.2% increase on a reported basis and a 5.0% increase on a like-for-like basis compared to the previous fiscal year. Currency fluctuations, notably the appreciation of the US dollar and the Russian ruble, had a favorable impact of 4.2% on the group’s growth.
Profitability Metrics
The current operating profitability of Bonduelle Group increased by 24.8% on a reported basis and 26.9% on a like-for-like basis, with a current operating margin of 2.7%. This is higher than the communicated guidance, indicating a strong operational performance.
Geographic and Segment Performance
Regarding geographic regions, the Europe Zone recorded a strong revenue growth of 11.1% on reported figures and 11.6% on a like-for-like basis. The Non-Europe Zone saw a growth of 6.3% in reported figures but experienced a decline of 5.8% on a like-for-like basis.
By operating segments, the canned segment showed a 17.5% growth, the frozen segment grew by 17.0%, and the freshly processed segment saw a slight decline of 0.5%.
Leadership Transition
Xavier Unkovic was appointed Chief Executive Officer of Bonduelle Group, effective June 1, 2023. Unkovic brings extensive experience in finance, sales, marketing, and executive management, having previously served as the CEO of NAOS, a significant player in skincare and health.
Outlook and Strategy
Despite a challenging consumer environment, the Bonduelle Group aims for revenue growth of around 5% and an operating margin exceeding 3% for the fiscal year 2023-2024. The company plans to achieve this through a confirmed recovery in business in North America and strict management of overheads.
Photo by Petr Magera on Unsplash
