Toupargel Groupe : Q4 2016 SALES

Civrieux d'Azergues, 13 February 2017

Q4 2016 SALES: €293.2m (-5.0%) Sales (audited)

(in €m)	2016	2015	Change
1st quarter	74.6	79.4	-6.0%
2nd quarter	70.4	72.5	-2.8%
1st half	145.0	151.8	-4.5%
3rd quarter	64.5	67.8	-4.9%
4th quarter	83.6	89.1	-6.1%
2nd half	148.1	156.9	-5.6%
Group total	293.2	308.7	-5.0%

Sales totalled €83.6 million in Q4 2016, down 6.1%, and included one less sale day compared with Q4 2015. At a constant number of sale days, sales decreased by 4.7%.

Over all of 2016, sales were down 5.0% to €293.2 million, owing to erosion in the customer base. The average shopping basket continued to increase, rising €1.5 to €53.8 (incl. VAT) and reflecting the quality of the product range.

The Group is continuing to digitalise its operations and develop new sources of growth. Internet sales increased by 15.9% and represented 3.6% of Toupargel brand sales, vs. 2.9% in 2015. The number of mobile orders (via smartphones and tablets) received a boost from the December 2016 launch of the Toupargel application for iOS and Android. In January 2017, Toupargel signed an agreement with La Vie Claire to sell all of the frozen products in its organic range in La Vie Claire's stores. The partnership initiated in 2016 with Amazon was strengthened; Amazon Prime Now customers now have access to 80 Toupargel frozen products.

2016 Outlook

The Group expects to post an operating margin of approximately 1.0%. Net debt totalled €7.3 million excluding the competitiveness and employment tax credit. The offsetting entry for the credit's pre-financing (€13.9 million) is found under tax credits on the assets side of the balance sheet (€15.4 million). Gearing (net debt/shareholders' equity) stood at 9%.

Upcoming events

• Publication of 2016 financial statements on 15 March 2017 (after stock market closing),

• Meeting of analysts and fund managers: 16 March 2017 at 11.00 am at Palais Brongniart, in Paris,

• Meeting of press and bankers: 16 March 2017 at 5.00 pm at the Prisme Club in Lyon,

• General Meeting of Shareholders in Civrieux d'Azergues (Lyon) on 26 April 2017.

About the Toupargel Group

Founded in 1947, Toupargel is France's leading frozen foods home delivery company. Toupargel has a catalogue of over 1,400 products, 800 of which are own-brand. We regularly expand our offering, adding new products that meet our origin, know-how, responsible farming and organoleptic quality criteria.

The Toupargel Group has over 3,500 employees, almost one million customers and makes 24,000 deliveries every day throughout France from its network of distribution points located throughout the country.