Bonduelle (BON) H2 2025 TU earnings summary

Executive summary

• Annual sales for FY 2024-2025 reached €2,203.8 million, down 0.8% like-for-like and 0.9% reported year-over-year.

• Quarter 4 saw a slight upturn, with sales up 0.2% like-for-like, driven by recovery in the Europe Zone.

• Brands remained resilient across all regions, including the US, with stable sales.

• The group confirms its objective of stable recurring operating income, supported by North American recovery and cost control.

Financial highlights

• Europe Zone sales declined 3.9% reported and 4.1% like-for-like; Non-Europe Zone grew 4.4% reported and 4.9% like-for-like year-over-year.

• Canned segment sales fell 4.4% reported; frozen down 1.6%; fresh processed up 4.4% year-over-year.

• Non-Europe Zone accounted for 38.5% of activity, with North America up 4.9% and Eurasia/Export/Mercosur up 3.7% reported.

• Quarter 4: Europe Zone down 0.6%, Non-Europe Zone up 0.4% reported.

Outlook and guidance

• Objective of stable recurring operating income at constant exchange rates and scope for FY 2024-2025 is confirmed.

• Transformation plan "Transform to win" continues to guide operational improvements.