Bonduelle (BON) Q1 2025 earnings summary

Executive summary

• Q1 FY 2024-2025 sales reached €567.2M, nearly stable at -0.4% like-for-like and -0.2% reported year-over-year.

• Branded products grew by 2.2% like-for-like and 2.4% reported, central to the "Transform to win" program.

• Annual targets for sales and current operating income confirmed despite a pressured consumer environment.

Financial highlights

• Europe Zone sales declined by 2.0% like-for-like and 1.9% reported, accounting for 65% of total sales.

• Non-Europe Zone sales grew by 2.7% like-for-like and 3.0% reported, representing 35% of total sales.

• Canned segment sales fell 4.2% reported, while frozen rose 2.0% and fresh processed increased 3.1%.

• Currency effects were marginal, contributing only +0.2% to business activity.

Outlook and guidance

• Stable sales and current operating income targets reaffirmed for FY 2024-2025 on a like-for-like basis.

• Consumer environment remains under pressure, but guidance remains unchanged.