May 9 - Ad Veenhof, Wessanen CEO, comments: “Following the growth trend from previous quarters, all our businesses are again posting solid growth figures. I am particularly pleased with the growth in our North American operations. North America Branded did well as a result of last year's acquisition, continued product innovation and channel extension. North America Distribution showed a solid performance as a result of sales increases at both our Top Ten customers and in the natural food channel. Our European operations are performing on target. European Health brands achieved good results with 5.5% organic growth. New product launches and stronger advertising and promotion should result in a further improvement of the growth levels over the coming quarters. The earlier growth trend in Europe Distribution continues with good profitability.”
Highlights
Total revenue in Q1-08 was EUR 384.6 million (Q1-07: EUR 388.5 million). Currency effect contributed EUR 36.2 million negatively. Autonomous sales growth was 5.1%.
EBIT amounted to EUR 12.4 million in Q1-08 (Q1-07: EUR 12.1 million). Negative currency effect of EUR 0.4 million.
Profit attributable to equity holders of Wessanen was EUR 7.2 million in Q1-08 (Q1-07: EUR 6.8 million, excluding profit from (divestment of) discontinued operations).
Cash generated from continuing operations ended in the first quarter of 2008 at EUR 3.1 million (Q1-07: EUR 14.3 million).