Bonduelle Sca · EURONEXT:BON
Bonduelle Sca — Bonduelle — H1 2024/2025 Earnings Presentation
35 slides from Bonduelle Sca's earnings presentation, March 2025
Slide 1: Bonduelle is transforming
Bonduelle is transforming March 2025 1
Slide 2: Agenda
AGENDA 24 24/25 - Transform to Win : Year 1, Progress in line with the strategy Half-year financial performance 2024/2025: an improvement in performance driven by Bonduelle Americas Outlook
Slide 3: The transformation has begun
The transformation has begun 2024-2025 1 TRANSITION 2025-2026 2 REBOUND 2026-2027 3 ACCELERATION 3
Slide 4: Performance over the HY1 allows us to confirm the guidance
Performance over the HY1 allows us to confirm the guidance Reminder of 24/25 guidance At the end of HY1: ● Sales down slightly by -1.5%(1) ● Current operating income up +17.8%(1) Outlook: The Bonduelle Group, while pursuing its transformation, confirms its annual targets of stable sales and current op
Slide 5: Transform to Win: Year 1, progress in line with the strategy
TRANSFORM TO WIN Year 1, progress in line with the strategy 5
Slide 6: The first year of transformation supported by 5 strategic pillars
1 PERFORMANCE The first year of 2 BRANDS & INNOVATIONS transformation supported by 3 KEY GEOGRAPHIES 5 strategic OPERATIONS AND pillars 4 ORGANIZATIONS EFFICIENCY 5 POSITIVE IMPACT
Slide 7: Performance, Brands & Innovations, Key Geographies
1 PERFORMANCE 2 BRANDS & INNOVATIONS 3 KEY GEOGRAPHIES OPERATIONS AND 4 ORGANIZATIONS EFFICIENCY 5 POSITIVE IMPACT
Slide 8: Bonduelle is at the heart of consumer trends
Bonduelle is at the heart of consumer trends
Slide 9: New activations and communications on the brand in spring
New activations and communications on the brand in spring
Slide 10: Meal solutions to delight you at any time of the day
Meal solutions to delight you at any time of the day 1 2 3 A renewed emphasis on New recipes closer to An acceleration in the the superiority of our consumers' desires trendy fresh segment products complete meals cuisine from around the world restaurant owners Snacking
Slide 11: The Bonduelle brand conquers the United States
The Bonduelle brand conquers the United States Launch of the Bonduelle brand in October 2024 (100% deployed by July), with the "Loaded Bowls" A strong innovation plan for the historical fresh segment starting in February 2025 Launch of a 100% plant-rich meal offering in ambient in February 11
Slide 12: Plan to sell salad activities in France and Germany is progressing
Plan to sell salad activities in France and Germany is progressing ○ Sale agreements signed in France and Germany with the buyers ○ Plan to operate the Bonduelle brand under license ○ Continuation of the lifting of suspensive conditions ○ Effective closure of the St Mihiel plant since February 28, 2
Slide 13: HY1 2024-2025 Financial Performance
HY1 2024-2025 FINANCIAL PERFORMANCE In accordance with IFRS 5, the income statements relating to the packaged salad activity in France and Germany, whose planned disposal was announced on August 29, 2024 is gathered in the income statement of the reported financial statements under “net income from d
Slide 14: Growth in current operating income and branded activities in HY1
Growth in current operating income and branded activities in HY1 2024-2025 Growth in branded activities: +1.9%(1) Slight downturn in sales: -1.5%(1) FINANCIAL Current operating income up: +17.8%(1) PERFORMANCE Growth in current operating margin at 4.3%(1) Restatement of discontinued activities in Fr
Slide 15: Our sales are slightly down due to a drop in volumes
Our sales are slightly down due to a drop in volumes A change in sales of -1.5% at constant exchange rates and scope fueled by: -1.7% -1.5% -0.2% ● A good performance for brands: +1.9% ● A decline in private label sales: € 1,139.2 M -6.9% € +0 M € 1,119.4 M ● A promising improvement in the € -16.7 M
Slide 16: Our branded business activity continues to grow
Our branded business activity continues to grow Breakdown of sales by brand HY1 2023-2024 growth HY1 2024-2025 At constant exchange rates and scope 36% 64% HY1 23-24 = 38% HY1 23-24 = 62% BRANDS +1.9% PRIVATE LABEL & -6.9% OTHERS Brands Private label & other (co-packing / affiliated Data with IFRS 5
Slide 17: Growth in the Non-Europe zone driven by United States and Eurasia
Growth in the Non-Europe zone is driven by the acceleration of sales in the United States and Eurasia Geographical breakdown of sales HY1 2023-2024 growth HY1 2024-2025 At constant exchange rates and scope Other Non-Europe 2.5% 60.1% Eurasia EUROPE 12.0% EUROPE -5.8% France % 30.5 NON-EUROPE +5.8% U
Slide 18: Brand growth and industrial efficiency improve current operating income
Brand growth and industrial efficiency improve current operating income Change in current operating income HY1 24-25 HY1 23-24 Current operating income increased by +17.8%(1): At current At constant At current exchange exchange exchange ● Growth in branded sales in France, rates rates rates North Ame
Slide 19: HY1 marks the return of profitability in Non-Europe Zone
HY1 marks the return of profitability in Non-Europe Zone Sales and current operating income by region At constant exchange rates and scope EUROPE NON-EUROPE Europe : volumes and price reductions granted HY1 24-25 HY1 23-24 HY1 24-25 HY1 23-24 in private label weigh on profitability Sales Sales Non-Eur
Slide 20: Non-recurring items mainly linked to logistics decisions in the United States
Non-recurring items are mainly linked to opportunistic logistics decisions in the United States Non-recurring items HY1 24-25 HY1 23-24 USA : opportunistic logistical adaptation, expected return on investment lower than 2 years Sales € 1,119.4 M € 1,139.2 M -1.7% Current operating € 48.0 M € 40.6 M
Slide 21: Net income from discontinued operations includes plans to divest packaged salad
Net income from discontinued operations includes plans to divest packaged salad businesses Change in net income Non-recurring items due to opportunistic HY1 24-25 HY1 23-24 logistical adaptation in USA Sales € 1,119.4 M € 1,139.2 M -1.7% An operating income up 25.8% Current operating income € 48.0 M
Slide 22: Cash flow consumption is lower than in the previous fiscal year
Cash Flow consumption is lower than in the previous fiscal year Change in cash flow HY1 24-25 HY1 23-24 Sales € 1,119.4 M € 1,139.2 M -1.7% Current operating income € 48.0 M € 40.6 M +18.3% A HY1 which involves the % of sales 4.3% 3.6% +73 bps reconstitution of stocks after the summer agricultural har
Slide 23: Sustainable financial structure despite increase in working capital requirement
We have a sustainable financial structure despite the increase in working capital requirement Simplified balance (in €M) - including IFRS 16 & 5 HY1 2024-2025 HY1 2023-2024 Fixed assets Equity An increase in debt linked to the increase in working capital requirement Equity is down due to the depreciat
Slide 24: 2024-2025 Outlook
B GROUPE BONDUELLE La nature, notre futur
Slide 25: A confirmed objective for Year 1 of the transformation
Year 1 of the 2024-2025 transformation a confirmed objective for current operating sales(1) profitability(1) margin(1) € 2,220 M € 83 M 3.7% …to prepare the rebound from 2025-2026, then the acceleration (1) sales and current operating income at constant exchange rates and scope after application of IF
Slide 26: Appendix
Appendix
Slide 27: Our Governance
Our Governance As of January 1, 2025 Other Bonduelle Free Employees and Families float treasury stocks 33.06% 36.87% 8.16% Pierre et Benoît BONDUELLE SAS Bonduelle SCA General Partner French limited partnership with shares Chairman: Félix Bonduelle General Partner: Pierre et Benoît Bonduelle SAS Supe
Slide 28: Our Governance: Supervisory Board
Our Governance Supervisory Board Ensures permanent control 1 2 3 of company management on behalf of the Shareholders. The Bonduelle Group complies with the Afep-Medef governance principles. 4 5 6 1. Jean-Pierre Vannier (Chairman) 2. Laurent Bonduelle 3. Agathe Danjou 4. Rémi Duriez 5. Cécile Girerd-
Slide 29: Our Governance: Audit Committee
Our Governance Audit Committee 1 2 By delegation of the Supervisory Board, this committee is responsible for supervising the financial matters. 1. Jean-Michel Thierry (Chairman) 2. Cécile Girerd-Jorry 3. Jean-Pierre Vannier 3 4 29
Slide 30: Our Governance: Board of Directors
Our Governance Board of Directors Made up of Bonduelle family members and independent members, this Board is responsible for defining the company's strategy and 1 2 3 4 5 investment policy. 1. Christophe Bonduelle (Chairman) 2. Ana-Maria Bonduelle 3. Benoît Bonduelle 4. Félix Bonduelle 5. Jean-Bernar
Slide 31: Our Governance: Compensation Committee
Our Governance Compensation Committee This committee is independent and recommends the 1 2 compensation granted to senior directors and officers and Bonduelle family members working at Bonduelle. The committee also gives its opinion on the compensation of top managers. 1. Marie-Ange Verdickt (Chairwo
Slide 32: Our Governance: CSR Committee
Our Governance CSR Committee 1 2 Its aim is to aid decision-making in terms of CSR strategy and business ethics, control its deployment and the achievement of the objectives set. 1. Jean-Bernard Bonduelle (Chairman) 2. Tadeusz Bechta 3. Agathe Danjou 4. Guillaume Fichet 3 4 32
Slide 33: Our Governance: Global Executive Leadership Team
Our Governance Global Executive Leadership Team The Global Executive Leadership Team (GELT) is composed of General Managers of business units, the Chief Bonduelle Prospective and Development Officer, the Chief Human Resources Officer, the Chief 1 2 3 Strategy, Brands and Impact Officer, and Chief Finan
Slide 34: Thank you!
Thank you ! En conformité avec la norme comptable IFRS 5, les éléments du compte de résultat 2021-2022 relatifs aux activités conserve et surgelé en Amérique du Nord, cédées au 30 juin 2022, dont le groupe détient désormais 35 %, ont été retraités et regroupés dans la rubrique “résultat net des acti
Slide 35: Thank you
company/bonduelle Thank you Chief Finance Officer