Bonduelle (BON) H2 2026 earnings summary

Executive summary

• FY2025/26 sales were €2,186.2m, down 0.8% reported but up 0.4% like-for-like; current operating income declined to €79.6m.

• Transformation focused on higher-value prepared foods, brands, operational efficiency, cost control and financial resilience.

Financial highlights

• Revenue was €2,186.2m vs €2,203.8m; internal growth added €8.9m, FX reduced sales by €26.5m and scope changes had no impact.

• Current operating income fell to €79.6m from €83.8m; reported margin was 3.6%, down 16 bps, and like-for-like margin was 3.4%, down 41 bps.

• Consolidated net income was €16.2m vs a loss of €11.5m; continuing operations recorded a €16.9m loss and discontinued operations contributed €33.1m.

• Current operating cash flow rose to €98.9m from €71.4m, supported by lower inventory and tighter investment control.

• Reported operating income was €32.3m vs €73.0m, reflecting €47.3m of non-recurring charges; financial results improved to -€29.2m from -€35.1m.

Outlook and guidance

• FY2026/27 priorities are to maintain current operating profitability, improve cash generation and reduce debt amid agricultural and geopolitical uncertainty.

• Transform to Win execution is set to accelerate, focusing on competitiveness, value-creating activities, brands, categories and operational efficiency.