Financial press release, 26 October 2012
FLEURY M CHON
Third-quarter 2012 revenue: €171.7 million (+6.2%)
Revenue for the first 9 months of 2012: €516.9 million (+7.2%)
Revenue in Q3 and for the first nine months of 2012
n the third quarter ended 30 September, the Fleury Michon
Group posted consolidated revenue of €171.7 million, up
+6.2%, taking business in the first nine months to €516.9
million, up +7.2%.
Revenue in €m | 2011 | 2012 | Change |
Q1 Q2 Q3 | 155.5 164.8 161.7 | 168.3 176.9 171.7 | +8.2% +7.3% +6.2% |
9-month total | 482.0 | 516.9 | +7.2% |
Following on from a strong first half in French Supermarkets,
sales in the quarter grew by
+5.2% in volume and +6.8% in value, and, in accordance with
its strategy, the Group prioritised development of its Fleury
Michon brand products, which grew +7.9% to account for over
90% of the business's revenue.
Against the backdrop of a contracting food market, the Group
continued to strengthen
its leadership in the best performing food segments during
the quarter, buoyed by a range
of high quality products, backed by a strong brand.
For Fleury Michon brand products, revenue in the quarter grew
+9.9% in the Charcuterie business, +3.5% in Fresh Prepared
Meals and +1.3% in Prepared Seafood in spite of a less
favourable economic context for prepared meals and a bad
weather for surimi during the summer.
Revenue in €m | Q3 | 9-months | ||||
Revenue in €m | 2011 | 2012 | Change | 2011 | 2012 | Change |
French supermarkets nternational operations Out-of-home catering and miscellaneous | 139.5 12.2 10.0 | 149.0 11.8 10.9 | +6.8% -3.3% +9.0% | 417.2 33.7 31.1 | 444.6 35.9 36.4 | +6.6% +6.5% +17.0% |
TOTAL | 161.7 | 171.7 | +6.2% | 482.0 | 516.9 | +7.2% |
lnternationally, revenue shrank 3.3% in the quarter to €11.8
million. Delta DailyFood in Canada experienced a drop in
sales in the third quarter (-5.6%, -15.1% at constant
exchange rates) due to the cessation of the private-label
market. The launch of Fleury Michon brand fresh prepared
meals is progressing in line with forecasts, but is not yet
sufficient to offset the cessation of these markets.
ncluding profit from associates in proportion to the
Group's shareholdings, revenue from
international operations totalled €79.8 million for the first
nine months of the year, an
increase of +36.8 (+6% on a comparable basis, excluding
Fes.Co).
The Out-of-home catering and miscellaneous business posted
satisfactory growth of +9%.
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Outlook
The consumer market
will continue to
be challenging in
the fourth quarter,
against a backdrop
of ongoing global
economic difficulties
and combined with
an increase in
raw- material and
energy prices.
However, thanks to its
sound fundamentals,
the Group confirms
that it expects
a dynamic second
half and an
increase in annual
revenue of around
+7%, in an
environment which
weighs more heavily
on profitability, due
to costs relating
to raw materials
and the start
of the new
Cambrai production
unit in November.
For the year
as a whole,
the Group maintains
its forecast of
an operating margin
in excess of
5%.
rthq a re even e 9 Jan a Y 3 atre ma ker d se
Eurolist B -
CACSmall90 - S
N FR 0000074759
- Reuters FLM
.PA - Bloomberg
FLE.FP
CONTACTS
infos.finances@fleurymichon.fr www.fleurymichon.fr
+33 (0)2 51 66 30 20
lnvestors, analysts, financial press
Jean-Louis ROY, Administration and Finance
Director
Media
Eric COLY, Head of Financial nformation
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