Bonduelle (BON) Trading Update summary

Revenue performance

• Annual revenue reached €2,371.8 million, up 2.7% like-for-like but down 1.4% on reported figures due to exchange rates.

• Q4 revenue increased 2.6% like-for-like and 0.5% reported, with volumes remaining weak amid challenging consumer demand.

• Profitability target is confirmed, supported by branded activities and internal cost-control measures.

Regional trends

• Europe Zone (65.7% of business) grew 3.3% reported and 2.9% like-for-like, but Q4 saw a slowdown and declining volumes.

• Non-Europe Zone (34.3% of business) grew 2.4% like-for-like but declined 9.4% reported; Q4 saw strong like-for-like growth in Eurasia and mixed results in North America.

Segment performance

• Canned segment revenue was stable reported (-0.5%) but up 6.1% like-for-like; frozen segment grew 8.7% reported and 10.3% like-for-like.

• Fresh processed segment declined 5.2% reported and 3.3% like-for-like, with Q4 particularly impacted by poor weather.