Activity: driven by
Objectives for 2022-2023: Vilmorin & Cie confirms its objectives for the fiscal year
News:
- Filing of the Universal Registration Document for 2021-2022
- Preparation of the Combined Annual General Meeting (Ordinary and Extraordinary) of
December 9, 2022
Vilmorin & Cie’s consolidated sales for the first quarter of 2022-2023, closing on
In millions of euros | 2021-2022 | 2022-2023 | Variation with current data | Variation on a like-for-like basis |
Sales at the end of the first quarter | 258.4 | 331.9 | +28.5% | +23.7% |
Vegetable Seeds | 101.4 | 105.4 | +4.0% | +0.4% |
148.2 | 219.5 | +48.1% | +41.9% | |
Garden Products and Holdings | 8.9 | 7.1 | -20.0% | -19.8% |
Consolidated financial information is established in compliance with the IFRS (International Financial Reporting Standards) reference, as applied by the
Activity
Driven by
Vegetable Seeds division
Sales of the Vegetable Seeds division for the first quarter stood at 105.4 million euros, up 4.0% with current data, and 0.4% on a like-for-like basis.
With a level of sales comparable to that of the first quarter of 2021-2022, the activity of the Vegetable Seeds division remained confronted with the consequences of widespread inflation, the
- Highlights per geographical zone
In
In
Finally, despite persistent restrictions due to the Covid-19 epidemic, business is gradually picking up again in
- Highlights per crop
During the first quarter, fine results were recorded for crops for which
- tomato, thanks to an increase in sales volumes and prices (
Spain ,Mexico andSouth America ), - carrot, as a result of advance sales and a price effect (
Turkey ,Mexico andBrazil ), - summer squash, through an efficient and better valued genetic offer (
Spain ), - sweet pepper (
Mexico andSouth America ).
By contrast, as for carrot in
Sales of the Field Seeds division for the first quarter stood at
- Highlights in
Europe
The European leader in rapeseed for the past two years,
Sunflower sales also increased, thanks to early purchases in
In corn, a lower than usual rate of returns was recorded. Finally, the introduction of prorated royalty income for straw cereals had a positive impact over the first quarter; this effect will be neutralized for annual sales.
- Highlights in
South America
In
In
- Highlights in the development zones
In
In
Objectives for 2022-2023
In spite of the very dynamic performance posted at the end of the first quarter, which on average only represents 15% of annual sales,
- an increase in consolidated sales of between 6% and 8%1, excluding the positive impact of the EGalim law on sales (which will however be neutral concerning the operating income)2,
- a current operating margin rate of at least 8 %, taking into account investment into research at a similar level (as a percentage of sales) to that of the two previous fiscal years, and spread evenly between Vegetable Seeds and
Field Seeds , - a contribution from associated companies - mainly AgReliant (
North America .Field Seeds ), Seed Co (Africa .Field Seeds ), AGT (Australia .Field Seeds ) and Hengji Limagrain (China .Field Seeds ) - at least equal to that of fiscal year 2021-2022.
News
Filing of the Universal Registration Document for 2021-2022
Vilmorin & Cie’s Universal Registration Document (in French) for fiscal year 2021-2022 was filed with the Autorité des marchés financiers (French Securities Regulator) on
Prepared in the European Single Electronic Format (ESEF) in XBRL, it includes the 2021-2022 annual financial report, the Board of Directors' report on corporate governance, the statutory auditors' reports and information on the statutory auditors' fees.
The document is available on the websites www.amf-france.org and www.vilmorincie.com.
Preparation of the Combined Annual General Meeting (Ordinary and Extraordinary) of
The preparatory documents – including the draft resolutions in English – for the Combined Annual General Meeting of Shareholders to be held on
Coming disclosures and events | For any further information | |
Annual General Meeting of Shareholders Detachment of the dividends Payment of the dividends Disclosure of sales and results for the first semester 2022-2023* *Disclosure after trading on the Dates provided as an indication only, and liable to be changed. | Anthony CARVALHO Chief Financial Officer Édouard ROCHE Head of Financial Communication and Investor Relations Tel: + 33 (0)4 73 63 40 08 e-mail: contact@diffusion.vilmorincie.com www.vilmorincie.com |
The 4th largest seed company in the world, pure play in its sector, Vilmorin & Cie creates, produces, and distributes vegetable and field seeds with high added value, contributing to meeting global food requirements in a context of accelerating climatic, environmental, and demographic challenges.
True to its long-term vision of development,
You can consult the presentation of sales at the end of the first quarter 2022-2023 on the website www.vilmorincie.com, on the homepage.
Appendix 1:
Sales for the first quarter 2022-2023 and evolution compared to 2021-2022
In millions of euros | 2021-2022 | 2022-2023 | Variation with current data | Variation on a like-for-like basis | Incl: Currency impact | Scope impact |
First quarter | 258.4 | 331.9 | +28.5% | +23.7% | +10.0 | 0.0 |
Vegetable Seeds | 101.4 | 105.4 | +4.0% | +0.4% | +3.6 | 0.0 |
148.2 | 219.5 | +48.1% | +41.9% | +6.5 | 0.0 | |
Garden Products and Holdings | 8.9 | 7.1 | -20.0% | -19.8% | -0.2 | 0.0 |
Appendix 2:
Financial glossary
Like-for-like data
Like-for-like data is data that is restated for constant scope and currency translation. Financial data for 2021-2022 is restated with the average rate for fiscal year 2022-2023, and any other changes to the consolidation scope, in order to be comparable with data for fiscal year 2022-2023.
Current data
Current data is data expressed at the historical currency exchange rate for the period, and without adjustment for any changes in scope.
Research investment
Research investment refers to gross research expenditure before recording any research costs and tax relief as fixed assets.
Current operating margin
The current operating margin is defined as the accounting operating margin restated for any impairment and reorganization costs.
1 On a like-for-like basis.
2 The law of
Attachment
- CP CA T1 2022-2023_EN_VD
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