The French group Bonduelle closed the third quarter of the 2024-2025 financial year with substantially stable sales and confirmed its annual targets, despite a continuing challenging environment for some European operations and harvest-related difficulties in Russia. Revenue for the January-March 2025 period amounted to €529,3 million, a slight increase of 0,3% compared to the same quarter of the previous year.
In the first nine months of the fiscal year, from July 1, 2024, to March 31, 2025, the group recorded total revenues of €1,648 billion, a decrease of 1,1% both on reported figures and at constant exchange rates and scope of consolidation. This performance primarily reflects the slowdown in private label business, while Bonduelle brand products continue to show positive signs.
Specifically, branded operations grew 1% on a like-for-like basis, while private label operations declined 4,5%. Geographically, Europe remains the group's primary market, accounting for 60,7% of total business, but in the first nine months it contracted 5%, particularly due to delays in delivering contracted volumes in the private label canning segment.
The performance of non-European businesses, which account for 39,3% of the group's revenue, was better, growing 5,7% on a reported basis and 6% at constant exchange rates. The North American market and the growth of meal kits and salad kits, which increased 6,8% at constant exchange rates, are driving this performance. Bonduelle also emphasizes how the brand's recent launch in the United States is helping to increase shelf rotation.
Regarding operating segments, the fresh processed products segment continues to be the engine of growth, with a 5,9% increase in the nine months and an 8,4% increase in the third quarter alone. However, the canned food business declined, declining 6% over the period, and the frozen food business declined 0,7%.
On the industrial and strategic front, the "Transform to Win" transformation plan, announced in August 2024, continues. The group confirmed the sale of its packaged salad business in Germany to Taylor Farms, a transaction completed on March 31, 2025. The divested business, structurally loss-making, generated approximately €60 million in annual revenue.
At the same time, operations are continuing to sell the French packaged salad business, while an agreement has been reached with the unions regarding the closure of the Saint-Mihiel plant and the voluntary redundancy plan at the Genas site.
Despite the critical issues related to the Russian harvest and the expected impact on profitability in the second half of the year, Bonduelle confirms its full-year forecasts, focusing on stable sales and a recurring operating result in line with the previous year at constant exchange rates.
