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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