6 November 2009 - At September 30, 2009 Bongrain SA's year-to-date net sales amounted to Euro 2,376.5 million compared with Euro 2,613.2 million for the same period of the previous year.
|
Consolidated data in millions of euros |
Net sales |
Change |
| |
09/30/09 |
09/30/08 |
Total |
Structure |
Exchange |
Growth |
| |
|
BONGRAIN SA |
2,376.5 |
2,613.2 |
- 9.1% |
0.2 %
|
- 0.2 % |
- 9.1 % |
| |
|
|
|
|
|
|
| By product line: |
As a % of the total |
|
|
|
|
|
Cheese products |
1,598.2 |
1,706.5 |
-6.3% |
0.3 % |
- 1.0 % |
- 5.7 % |
|
Other dairy products |
772.3 |
900.7 |
-14.3% |
0.0 % |
1.6 % |
-15.6% |
The slowdown in the fall in net sales of cheese products, already noted at the end of the 1st semester, has been confirmed during the 3rd quarter of 2009. However the Group’s exports remain penalized by the high price paid for milk in France compared with the prices applying in competitive markets, such that products manufactured outside France have the benefit of greater competitiveness.
Net sales of industrial products remain influenced by the weakness of the applicable world prices but the comparison with 2008 is more favorable for the 3rd quarter of 2009 than for the 1st semester.
The euro/dollar rate of exchange has improved in comparison with the same period of 2008, thus compensating for the fall in numerous other currencies compared with the euro.
The Group’s consolidation scope has been modified by the full consolidation of Fromapac (France) effective since the 2nd quarter of 2008.
The Group’s success in terms of innovation and quality, as well as increased support for its major brands, have enabled it to improve its market positions during the 3rd quarter. The Group’s financial performance remains affected by the price level for milk in France, which handicaps both the export of our branded products and our sale of industrial products.
The improvement of world prices for industrial products will have only a limited impact during 2009. The overall level of activity for the 4th quarter of 2009 is expected to remain broadly in line with the current trends. |