Financial press release, 29 January 2013
FLEURY MICHON
2012 revenue: €690.9 million (+7.3%)
Fourth-quarter 2012 revenue: €174.0 million (+7.4%)
Revenue in Q4 and for 2012 as a wholeIn the fourth quarter of FY 2012, ended 31 December, Fleury Michon posted further solid growth in consolidated revenue, to €174 million, up +7.4%, taking annual business to €690.9 million, up +7.3%, in line with the Group's targets.
Revenue in €m | 2011 | 2012 | Change |
Q1 Q2 Q3 Q4 | 155.5 164.8 161.7 162.0 | 168.3 176.9 171.7 174.0 | +8.2% +7.3% +6.2% +7.4% |
12-month total | 644.0 | 690.9 | +7.3% |
The French Supermarkets business posted its most dynamic quarter of the year, with growth of +5.3% in volume and +8.5% in value. The +9.9% growth of the Fleury Michon brand shows the effectiveness of the innovation-quality strategy implemented several years ago.
Against the backdrop of a contracting food market, the Group continued to strengthen its leadership in the best performing food segments during the quarter, buoyed by a range of high quality products, backed by a strong brand.
For Fleury Michon brand products, revenue in the quarter grew +11.7% in the Charcuterie business and +10% in Fresh Prepared Meals. Prepared Seafood dipped very slightly (-0.8%) due to a decrease in the market and an unfavourable base effect.
French
Q4 12-months 2011 2012 Change 2011 2012 Change
supermarkets 138.4 150.2 +8.5% 555.6 594.8 +7.1%
International
operations 11.2 11.9 +6.2% 44.8 47.8 +6.7%
Out-of-home
catering and miscellaneous
12.4 11.9 -4.0% 43.6 48.3 +10.8%
TOTAL 162.0 174.0 +7.4% 644.0 690.9 +7.3% Internationally, revenue grew +6.2% in the quarter to €11.9 million. Delta DailyFood in Canada (DDFC) experienced an increase in sales (+9.2%), linked to a favourable exchange-rate effect and organic growth of +3.1% thanks to a solid performance by the airline catering business.
Over the year as a whole, this business posted revenue of €47.8 million, up +6.7%, thanks to
DDFC (+10.2%, of which +3% at constant exchange rates).
1
Including profit from associates in proportion to the Group's shareholdings, revenue from international operations totalled €108.8 million for the year, an increase of +24.5% (+5.8% on a comparable basis, excluding Fres.Co, and at constant exchange rates).
Lastly, the Out-of-home catering and miscellaneous business decreased of 4% in the quarter. The delivered meal tray business increased of +20.3%. Over 2012 as a whole, this business posted revenue of €48.3 million, up +10.8%.
Against a backdrop of ongoing global economic difficulties, Fleury Michon posted a good sales performance, thanks to its sound fundamentals.
For the year as a whole, the Group maintains its estimate of an operating margin in excess of 5%.
Publication of 2012 consolidated financial statements and first-quarter 2013 revenue on 15
April after market close.
Eurolist B - CACSmall90 - ISIN FR 0000074759 - Reuters FLMI.PA - Bloomberg FLE.FP
+33 (0)2 51 66 30 20
Investors, analysts, financial pressJean-Louis ROY, Administration and Finance
Director
MediaEric COLY, Head of Financial Information
2
distributed by
|