Bonduelle - First Quarter FY 2023-2024 Revenue

Business growth in line with annual target

BONDUELLE

A French SCA (Partnership Limited by Shares) with a capital of 57 102 699,50 Euros
Head Office: La Woestyne 59173 Renescure, France
Registered under number: 447 250 044 (Dunkerque Commercial and Companies Register)

First Quarter FY 2023-2024 Revenue
(July 1 - September 30, 2023)

Business growth in line with annual target

The Bonduelle Group posted revenue of 568.5 million euros for Q1 2023-2024, up +4.2% on a like-for-like basis* and down -0.5% on reported figures.

The significant depreciation of the Russian ruble compared to the first quarter of the previous fiscal year and, to a lesser extent, the weakening of the US dollar versus the euro had a negative impact of -4.7% on business growth.

Activity by Geographical Region

Total consolidated revenue (in millions of euros)	From July 1 to September 30, 2023	From July 1 to September 30, 2022	Variation Reported figures	Variation Like-for-like basis*
Europe Zone	375.3	348.7	7.6%	7.2%
Non-Europe Zone	193.2	222.6	-13.2%	-0.5%
Total	568.5	571.3	-0.5%	4.2%

Activity by Operating Segments

Total consolidated revenue (in millions of euros)	From July 1 to September 30, 2023	From July 1 to September 30, 2022	Variation Reported figures	Variation Like-for-like basis*
Canned	251.2	240.1	4.6%	11.8%
Frozen	66.7	61.6	8.2%	9.2%
Fresh processed	250.7	269.5	-7.0%	-3.7%
Total	568.5	571.3	-0.5%	4.2%

Europe Zone

The Europe Zone, which accounts for 66.0% of total revenue, posted overall Q1 growth of +7.2% on a like-for-like basis* and +7.6% on reported figures. In an economic environment still marked by a sharp decline in volumes of food consumption expenditure, the group’s retail activity grew in value but posted a slight decline in volumes, as the group’s presence in both the branded product and private label products, coupled with a major targeted promotion campaign, should allow the group to maintain its business activity and market share. Despite this environment, the food service activity remains flat overall in terms of volumes but is growing in value.