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Wessanen Trading update Q3 2016: Sustaining profitable growth

Dienstag, 25.10.2016 07:05

Trading update Q3 2016: Sustaining profitable growth

Q3 2016 highlights

  • Total reported revenue growth 9.2% (8.8% YTD)
  • Own brands autonomous growth 7.4% (9.2% YTD)
  • Total autonomous revenue growth 3.9% (7.0% YTD) due to accelerated decline of private label business
  • EBITE margin of 7.3% despite significant increase in A&P. YTD EBITE margin is up 90bps to 8.3%
  • Integration of Piramide, Ineobio and Mrs Crimbles fully on track

CEO Statement

We have sustained our good growth momentum on own brands in Q3 and YTD growth stands at 9.2%. Autonomous revenue growth for total Wessanen remains at the upper end of our guidance range of 5-7% year to date, despite an accelerated decline of private label business in Q3. YTD EBITE has increased by 22.4% and margin is up 90bps to 8.3%. In the quarter we achieved an EBITE margin of 7.3% despite investing significantly more A&P into our brands. Integration plans of Piramide, Inebio and Mrs Crimbles are being executed as planned.

We are on track to deliver a good 2016 result both in terms of growth and profit as we are further strengthening our brands in a growing market for healthier and more sustainable food.

Guidance FY 2016

  • Total autonomous revenue growth at the upper end of our long term guidance range of 5-7%
  • We expect to report:
    • a higher EBITE in 2016 versus 2015
    • an increase of the EBITE % of revenue
  • Net financing costs around €1-2 million
  • Tax rate of around 30%
  • Capital expenditures €8-9 million
  • Depreciation and amortisation €7-8 million

 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 20 703 8261 (toll free 0800 023 1436) - please quote "Wessanen". 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 20 3122 124
Ronald.Merckx@wessanen.com

Important dates

16-11-2016       Capital Markets Day (Italy)

15-02-2017       Publication Q4 2016 results




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
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