Sustaining healthy, profitable, branded growth
H1 and Q2 2017 highlights
- Reported revenue growth of 14.0% for H1 (Q2: 12.7%)
- Own brands autonomous growth of 7.8% in H1 (Q2: 6.5%)
- EBITE increases by 22.4% to €30.6 million for H1 (Q2: €11.6 million)
Christophe Barnouin (CEO) commented: "We have managed to sustain healthy profitable growth throughout the first half of 2017. Many of our own brands are growing at strong double-digit levels in H1 while the Private Label and Distribution brands have declined by close to 20% in line with our strategy.
The turn-around of our Germany business is on track, on the back of extended listings in the Grocery channel (especially drug stores) and successful restructuring activities.
Integration of our acquisitions from 2016 is progressing well and key operations projects are delivering fuel to re-invest into the growth of our brands.
Profitability of our business has further increased and EBITE is up 22.4% delivering an EBITE margin of 9.4%.
For the first time ever we have run a program for Organic Start ups ("Organic Food against Climate Change") in cooperation with Triodos Bank in order to support change in the Food market beyond our own business.
We remain confident that 2017 will be yet another year of healthy, sustainable and profitable growth for Wessanen."
Analyst & investor meeting
At 10h00 CET, an analyst & investor call will be hosted by Christophe Barnouin (CEO) and Ronald Merckx (CFO). The dial-in number is +31 (0)20 531 5843. There will also be a live audio webcast via www.wessanen.com.
The press release and presentation are available for download at www.wessanen.com.
Media, investor & analyst enquiries
Ronald Merckx (CFO)
24-10-2017 Publication Q3 2017 trading update
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Wessanen via Globenewswire