The Bonduelle Group, a global player in processed vegetables, has released its financial results for FY 2022-2023, highlighting a revenue of €2,406.2 million. This represents a growth of 9.2% based on reported figures and 5.0% on a like-for-like basis. The report also sheds light on the company’s performance in the fresh produce segment, which faced challenges in the past fiscal year.
Overview of Financial Performance
Bonduelle’s revenue growth comes against a backdrop of widespread inflation, geopolitical tensions, and increased costs in agricultural raw materials, packaging, energy, and logistics. Despite these challenges, the group demonstrated resilience by posting growth aligned with its latest objectives.
The Europe Zone, representing 62.7% of the business activity, recorded strong growth, while the Non-Europe Zone faced a downturn in the ready-to-use fresh segment.
Fresh Processed Segment
The fresh processed segment, which includes ready-to-use fresh products, reported revenue of €1,001.1 million, a decrease of 0.5% on reported figures and a decline of 5.4% on a like-for-like basis.
In Europe, the ready-to-use fresh segment contributed to overall growth in value, with sales sustained by good performance in ready-to-eat activity. However, fresh cut salads showed a sharper decline.
In North America, the downturn in the ready-to-use fresh segment remained marked, affected by an unfavorable market trend, an agronomic crisis linked to plant disease, and the residual impact of the previous year’s loss of references.
Canned and Frozen Segments
The canned segment reported revenue of €1,126.3 million, a growth of 17.5% on reported figures, and the frozen segment reported €278.8 million, a growth of 17.0%.
Key Developments
Arrival of New CEO: On May 22, 2023, the Bonduelle Group announced the appointment of Xavier Unkovic as Chief Executive Officer, effective June 1, 2023. Unkovic brings extensive experience in finance, sales, marketing, and executive management.
B Corp™ Certifications: Bonduelle achieved a significant milestone with the certification of Bonduelle in Italy and Bonduelle Fresh Americas in the United States as B Corp™ companies. These certifications reflect the group’s commitment to social and environmental impact standards.
Outlook for 2022-2023: Despite the downturn in food consumption and the continuing inflationary environment, the Bonduelle Group confirms its objective of improving current operating income and margin for FY 2022-2023.
Photo by Scott Warman on Unsplash
