Bonduelle : Q4 2019-20 sales close to the consensus but below our expectations
>Organic growth down 6% vs -1% estimated - Bonduelle reported on Monday evening Q4 2019-20 sales of € 651.4m, down 6.3% reported. This is a shade above the consensus (€ 650.2m) but well below our estimate of € 685.6m (-1.3%). On an organic basis, activity declined more sharply than our estimate, -6% vs -1% (ODDO BHF) due to the marked contraction in the non-Europe zone, the latter is penalised by the halt in food service for frozen foods and by the decline in sales...Bonduelle is active in the market of processed vegetables both within and outside the European Union. Co.'s business is made up of three activities: canned, frozen and fresh vegetables (prepared and fresh-cut). It distributes its products mostly through retail channels (large supermarkets and stores) and food service sectors (restaurants, inter-company canteens). Some of Co.'s brands are Bonduelle, Cassegrain, Frudesa and Artic Gardens. Co. is organized into two geographic regions and four business segments: Bonduelle Europe Long Life (BELL), Bonduelle Fresh Europe (FRESH), Bonduelle Americas (BAM), and Bonduelle Development (BDV).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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