Bonduelle (BON) H2 2024 earnings summary

Executive summary

• Launched a 3-year transformation program, “Transform to win,” focused on performance, innovation, key geographies, efficiency, and positive impact.

• FY 2023-2024 closed with higher annual sales and current operating income above guidance, despite economic and geopolitical uncertainties.

• Strategic review confirmed relevance of plant-rich food mission and attractive market segments.

Financial highlights

• FY 2023-2024 sales: €2,371.8M, up 2.7% like-for-like, down 1.4% reported due to currency effects.

• Current operating income: €75.3M, up 30.5% like-for-like and 14.3% reported; margin at 3.2%, above guidance.

• Net income: -€119.8M, down from €14.5M last year, impacted by non-recurring items.

Outlook and guidance

• Forecasts stable business activity and profitability for FY 2024-2025.

• Focus on accessible innovation and increased marketing, especially in the US.

• Ongoing transformation program and planned divestment of packaged salad business in France and Germany.