Trading update Q1 2017: Strong profitable branded growth
Q1 2017 highlights
Reported revenue growth of 15.2%
Autonomous growth own brands of 9.2%
EBITE increases to €19.0 million (EBITE margin of 11.5%)
We had a good start in 2017 and have achieved strong autonomous growth of our own brands and a significant increase in EBITE, partly as a result of different A&P phasing compared to prior year. Many of our own brands grew at double digit-levels and overall, own brands have grown 9.2%. As communicated earlier, the share that Private Label and Distribution brands have of our business has reduced further, which has offset total growth in the quarter to an extent.
We are pleased with the performance of our newly acquired businesses and integration is proceeding as planned.
We are confident that 2017 will be yet another year of healthy, sustainable and profitable growth for Wessanen.
Analyst & investor meeting
At 10h00 CET, a conference call for analysts, investors, and media will be hosted by Ronald Merckx (CFO). The dial-in number is +31 20 531 5871. 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)
Phone +31 (0)20 3122 126
Important dates 2017
25-07-2017 Publication Q2 2017 interim results
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