Bel

2019 Fourth quarter sales - Seite 2

Global Markets

Global (mature) markets reported sales growth of 1.7% in 2019. Excluding the positive forex effect, organic growth remained steady, with more buoyant growth of 1.5% reported in Q4.

In Europe, sales edged down 0.2% in 2019. Positive momentum in northern and southern European countries offset the tough sales environment in France.

Sales in the Middle East and Greater Africa region increased a slight 0.7%. The steep contraction in Levant region markets accelerated throughout the year, while sales performances were mixed in several North African and Middle Eastern countries.

In North America, sales growth was strong, fuelled by momentum in the Canadian market.

New Territories

In 2019, sales in New Territories were up a hefty 8.9% thanks to MOM's strong momentum, particularly in North America, while the Group continued to achieve future development milestones in other new territories.

Sales by geographic region

		12 months
millions of euros		2019	2018	% change	% organic growth
Europe		1,823	1,827	-0.2%	-0.4%
Middle East, Greater Africa		724	719	+0.7%	-1.5%
Americas, Asia-Pacific		855	765	+11.8%	+6.7%
TOTAL		3,403	3,312	+2.8%	+1.0%

2019 results outlook

The transformation plan initiated in 2018 continued to unfold in 2019. The announced savings plan is on target, enabling Bel to reinvest in its growth. Based on cost cutting and productivity efforts in industrial operations, Bel reiterates its expectations for significantly improved operating margin and strong cash generation thanks to tight cash management.

With its long-term commitment to champion healthier food embodied by its new "For All. For Good" signature, Bel is fully in sync with a sustainable and profitable growth model.

Bel expects to report its financial results on March 12, 2019.

Bel's financial performance indicators

The Group uses non-IFRS financial performance indicators internally and for its external communication. These non-IFRS indicators are defined below: