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 whole

In 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.

Revenue in €m

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).

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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%.

Outlook


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

CONTACTS infos.finances@fleurymichon.fr www.fleurymichon.fr

+33 (0)2 51 66 30 20

Investors, analysts, financial press

Jean-Louis ROY, Administration and Finance

Director

Media

Eric COLY, Head of Financial Information

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