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Bonduelle returns to net profit as continuing operations lose money

Bonduelle returned to a consolidated annual profit of 16.2 million euros, helped by income from discontinued operations. Its continuing businesses lost 16.9 million euros, while sales slipped 0.8% and current operating profit fell 5%. The impairment at Bonduelle Americas weighed on the results as the vegetable-food group focused on cash generation and debt.

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Peas and chopped carrots on a steel tray beside a vegetable-processing line.

Discontinued businesses lift the consolidated result

Bonduelle, the vegetable-food group, reported consolidated net income of 16.2 million euros for its financial year ending 30 June. A year earlier it had lost 11.5 million euros. Results were released on 2 October, when the supervisory board chaired by Jean-Pierre Vannier reviewed the accounts. Reported sales declined 0.8 per cent, from 2,203.8 million euros to 2,186.2 million euros. At constant exchange rates and scope, sales increased 0.4 per cent.[1]

Continuing operations had a net loss of 16.9 million euros, compared with a profit of 19.7 million euros in the previous year. Discontinued operations contributed 33.1 million euros. That contribution included the gain from selling the packaged-salad business in France. Consolidated profit therefore includes the results of businesses outside continuing operations as well as the losses of the activities that remained.[1]

North American impairment reduces operating income

Current operating income fell 5 per cent, from 83.8 million euros to 79.6 million euros. The current operating margin declined from 3.8 per cent to 3.6 per cent. Bonduelle recorded a 35 million euro goodwill impairment for Bonduelle Americas, an accounting reduction in the value associated with that business. Non-recurring charges totalled 47.3 million euros. Reported operating income, including those charges, fell from 73 million euros to 32.3 million euros.[1], [2]

European growth accompanies weaker North American sales

European sales increased 1.3 per cent to 1,372.1 million euros. Sales outside Europe reached 814 million euros, down 4.1 per cent as reported and 1 per cent on a comparable basis. North American sales declined 5.6 per cent on that comparable basis. By product category, sales were 1,119.9 million euros for canned food, 305.1 million euros for frozen products and 761.2 million euros for fresh processed products.[1]

Net debt increased from 571.2 million euros to 577.4 million euros. Bonduelle said its priorities would include maintaining profitability, generating cash and further reducing debt amid continuing agricultural and geopolitical uncertainty. It will propose a dividend of 0.25 euros per share at the annual general meeting scheduled for 3 December.[1]

References

  1. News sourceBonduelleBonduelle - 2025-2026 Annual results: The Bonduelle Group demonstrates its resilience, ending fiscal year 2025-2026 with stable sales and profitability↩1↩2↩3↩4↩5
  2. News sourceZonebourseBonduelle returns to net profit despite margin pressure↩
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