FLEURY MICHON Financial press release, 24th July 2014
Growth recorded in Q2 as unfavourable conditions continue
In H1 2014, which ended on 30th June, Fleury Michon posted €348.7m in revenue,
representing a 0.9% decline compared to H1 2013.
Despite a particularly difficult period in terms of household consumption, the Group managed to reverse the trend seen in Q1 2014, recording a 1.8% increase in revenue in Q2 to €180.7m.
Revenue (€m) | Q2 | H1 | ||||
Revenue (€m) | 2013 | 2014 | Change | 2013 | 2014 | Change |
French supermarkets 1 International Services | 153.0 11.8 12.6 | 157.1 | +2.7% -16.1% +8.7% | 304.3 22.9 24.8 | 303.6 | -0.2% -17.9% +6.0% |
French supermarkets 1 International Services | 153.0 11.8 12.6 | 9.9 | +2.7% -16.1% +8.7% | 304.3 22.9 24.8 | 18.8 | -0.2% -17.9% +6.0% |
French supermarkets 1 International Services | 153.0 11.8 12.6 | 13.7 | +2.7% -16.1% +8.7% | 304.3 22.9 24.8 | 26.3 | -0.2% -17.9% +6.0% |
TOTAL | 177.5 | 180.7 | +1.8% | 352.0 | 348.7 | -0.9% |
1 Large and medium-sized French supermarkets
Economic conditions remained complex and in France are marked by price reductions and wars on food products among supermarkets.
As regards the French supermarket segment over the first six months, the Group recorded revenue of €303.6m, compared to €304.3m for the same period in FY
2013, but there was a 2.7% rise in Q2 partly attributable to greater sales and marketing resources.
This positive performance in Q2 was reflected on our 3 segments:
- The Charcuterie segment posted €206.9m in H1, representing a 0.4%
decline over the six-month period, but a 1.6% increase over Q2;
- The Prepared Meals activity recorded €55.5m in revenue over six months, remaining stable in relation to H1 2013. The Fleury Michon brand edged up 3.3% in Q2;
- And finally, the Surimi business remained stable for the six-month period, posting €41.1m. The Fleury Michon brand climbed 9% over the half-year. Several favourable factors (weather and the success of the 'Come try it' campaign) were behind this positive performance.
Financial press release, 24th July 2014
The Group's International operations recorded half-yearly revenue of €18.8m, falling 17.9% against figures published (-10.1% at constant exchange rates) and mainly attributable to a falloff in sales for the Canadian activity. Unconsolidated joint ventures both in Italy and Spain recorded growth, climbing 9.2% over six months.
Services (Out-of-home catering and miscellaneous division) posted sales of
€26.3m, rising 6% over the half-year and 8.7% in Q2. On this segment, Room Saveurs, the Group's Meal Tray business, continued its upward trend, jumping 16.1% over the six-month period.
2014 outlook
Against this background, the Group is maintaining its objective of revenue growth over the financial year. However, due to harsher-than-expected economic conditions, this will be below the 4% figure previously announced.
Founded in 1905, Fleury Michon still remains a medium-size independent family-run company.
Its 3,820 employees renew their commitment to excellence every day.
The company is present in
France, Italy, Spain, Slovenia and Canada.
In France, it is the leader on the Supermarket, self- service Charcuterie, fresh
Prepared Meals and Surimi segments.
Fleury Michon is the leader on the Delivered Meal tray business provided to companies in the Paris
region.
… Promoting healthy eating every day by presenting an another nutritional model.Contacts
Investors, analysts, financial journalists
Jean-Louis ROY, Administration and
Finance Director
Other journalists and media
Eric COLY, Head of Financial Information (33 2) 51 66 30 20
infos.finances@fleurymichon.fr www.fleurymichon.fr
Eurolist B - CACSmall90
ISIN FR 0000074759
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