Bonduelle Group's annual results for 2023-2024 exceeded targets with a focus on strategic transformation.

From GlobeNewswire: 2024-10-04 12:00:00

Bonduelle Group is launching a 3-year transformation program, “Transform to win”, aimed at restoring its ability to develop as a B Corp company. The Group closed FY 2023-2024 with higher annual sales and current operating income above guidance, forecasting stable activity for FY 2024-2025. CEO Xavier Unkovic emphasizes the importance of transformation and strategic planning for the company’s future success.

The 3-year transformation program, “Transform to win”, is built around 5 pillars: Performance, Brands and Innovations, Key Geographies, Operational and Organizational Efficiency, and Positive Impact. The aim is to create conditions for transition, rebound, and acceleration of the company’s performance. Financially, the Group saw an increase in sales and current operating income for FY 2023-2024, exceeding targets set at the beginning of the fiscal year.

In terms of sales by geographic region, the Europe Zone saw growth despite a sluggish consumer climate, while the Non-Europe Zone also saw an increase, driven by Eurasia and emerging countries. Operating income improved for both zones, with the North American business activities showing a turnaround. Net income, however, decreased due to non-recurring items such as impairment of intangible assets and closure of a plant in France.

The Bonduelle Group’s financial situation for June 30, 2024, showed net debt at 485.6 million euros and a gearing ratio of 0.75. The leverage ratio stood at 3.56, reflecting the Group’s financial performance and position at the end of FY 2023-2024. Overall, the Group’s transformation program and financial results indicate a strategic focus on sustainable growth and operational efficiency.



Read more at GlobeNewswire:: 2023-2024 Annual Results: Bonduelle is