Bel

First quarter 2020 sales - Seite 2

Bel reported strong sales momentum in the first two months of the year in global (mature) markets, prior to the March sales acceleration that arose from consumer lockdowns enacted in most countries. Bel still has a weak presence in the catering market, which was particularly hard hit by the pandemic.

In Europe, 2020 began with buoyant sales growth, particularly in France and Germany, before the sales acceleration seen in all markets in March.

The contraction in the Levant markets since the second half of 2019 accounts for the weak 2.3% Q1 sales growth reported in the Middle East, Greater Africa region.

In North America, sales accelerated in March as governments began rolling out lockdown measures.

New Territories

Sales of all MOM products and brands in the New Territories market segment were particularly strong in the United States and France.

Sales by geographic region

		3 months
millions of euros		2020	2019	% change	% organic growth
Europe		473	430	+10.1%	+9.8%
Middle East, Greater Africa		199	192	+3.2%	+2.3%
Americas, Asia-Pacific		237	188	+26.3%	+22.9%
Total		909	810	+12.2%	+11.0%

2020 results outlook

Against the backdrop of a global pandemic and economic crisis, and in view of the strong volatility in global demand expected to prevail in the months ahead, Bel is unable to provide a clear outlook at this time. The first weeks of April indicate a return to more normal consumer purchasing patterns, although coming trends in consumer purchasing remain uncertain.

Bel continues to monitor the situation very closely in order to adapt its response as the pandemic evolves.

As a major food sector player, Bel fully assumes its duty to do everything possible to ensure the continuity of its operations.

To date, the company's production sites continue to operate, with mobilized and committed teams. Since the beginning of the pandemic, Bel has strengthened its safety procedures and health rules to ensure the health and safety of all its employees, in particular by implementing the strictest health and precautionary measures at all production sites, as noted in the company's March 31^st and April 9^th press releases.