Bonduelle (BON) Trading Update summary

Sales performance and business trends

• First half 2024-2025 sales reached €1,119.4m, down 1.5% like-for-like and 1.7% reported, with currency impact minimal.

• Branded activities grew 1.9%, while private label sales declined 6.9%, highlighting strategic brand focus.

• Europe zone sales fell 5.6% reported, mainly due to private label canned segment delays; Non-Europe zone grew 4.8% reported, led by North America and CIS/Russia.

• Canned segment dropped 6.7%, frozen rose 1.0%, and fresh processed grew 4.7% in the half year.

• Packaged salad activities in France and Germany are excluded from consolidated sales due to planned disposal.

Strategic initiatives and restructuring

• Ongoing disposal of packaged salad businesses in France and Germany, with work to lift conditions precedent.

• Agreement reached on Saint-Mihiel plant closure and voluntary redundancy plan for Genas head office.

• Non-recurring items related to restructuring will be recognized under discontinued operations in December 2024 accounts.

• Search for buyers for the French packaged salad business continues, with all takeover options being explored.

Corporate governance and shareholder updates

• Annual Shareholders' Meeting held December 5, 2024; €0.20 per share dividend paid January 9, 2025.

• Karine Charbonnier co-opted to Supervisory Board and Audit Committee; Corinne Wallaert appointed Vice-Chairwoman.

• Charbonnier's appointment to be ratified at the December 2025 AGM.