Bel 132 0 Kommentare 2019 Fourth quarter sales

Press release

Suresnes — February 28, 2020 at 6 p.m.

Bel
Fourth quarter 2019 financial information
Sales performance

Consolidated sales increase 2.8% to €3,403 million in 2019
Sales grow 1.0% organically in 2019
- Strong momentum in new territories with sales up 6.6%
- Organic sales growth accelerates to 1.8% in second half
Fourth quarter sales total €878 million, up 2.0% organically

Amounts are expressed in millions of euros and rounded off to the nearest million. Ratios and variances are calculated based on underlying amounts, not rounded off amounts.

In 2019, the Bel Group reported consolidated sales of €3,403 million, up 2.8% on a published basis and up 1.0% organically. Excluding the negative impact of sharply contracting markets in the Levant region, particularly in the second half of the year, organic growth would have been 2.0%. The growth in full year consolidated sales also includes a positive 1.8%, or €59 million, foreign exchange effect, mainly as a result of the U.S. dollar's appreciation against the euro.

Organic sales growth for the year was driven by branded products, up 1.7%, in particular Mini Babybel, Boursin and GoGo squeeZ. Bel consolidated its competitive positions across all its products lines. Sales of industrial and unbranded products decreased 6.6%, penalized by low prices for surplus cream.

In the fourth quarter of 2019, consolidated sales advanced 3.5% to €878 million, including a 1.5% positive forex effect and 2.0% organic growth, with rebounding European markets largely offsetting the accelerated contraction in Levant region markets. Bel thus performed well, with buoyant organic sales growth of 1.8% in the second half of the year.

	Q4				12 months
millions of euros	2019	2018	% change	% organic growth	2019	2018	% change	% organic growth
Global Markets	748	727	+3.0%	+1.5%	2,871	2,823	+1.7%	+0.0%
*New Territories ()**	130	122	+6.4%	+4.9%	532	488	+8.9%	+6.6%
TOTAL	878	849	+3.5%	+2.0%	3,403	3,312	+2.8%	+1.0%