FDBusiness.com

Wessanen Continues to Make Good Progress

 Breaking News
  • South Korean Food Group Agrees $1.84 Billion US Deal CJ CheilJedang of Seoul, South Korea, is continuing its international expansion after agreeing to acquire a majority stake in Schwan’s Company, a leading US food business, for about US$1.84 billion. The transaction will include 80% of Schwan’s Company and specific subsidiaries that focus on foods sold in retail and grocery channels and food-service venues. The Schwan [...]...
  • The World’s Biggest Meat Alternative Production Facility Opens The world’s biggest meat alternative production facility has been officially opened by Quorn Foods at its Belasis site in Billingham, in the North East of England. The factory expansion of 9,500 sq m will double production capacity of Quorn’s core products, adding approximately 20,000 tonnes per annum. It is part of a £150 million investment [...]...
  • HEINEKEN Ireland is First Drinks Company in Ireland to Achieve Business Working Responsibly Mark HEINEKEN Ireland is the first drinks company in Ireland to achieve the Business Working Responsibly mark from Business in the Community in recognition of its responsible and sustainable business practices. The Mark, developed by Business in the Community Ireland, and audited by the NSAI, is based on ISO 26000 and is the only independently audited [...]...
  • Starch Europe Announces Winners of 2017-2018 Safety Awards EU starch producers are proud to renew their firm commitment to continuously improve safety practices and to achieve a safer working environment, through their contribution to the 4th exercise of the Starch Europe Safety Programme. The Starch Europe Safety Programme, launched in 2014, recognises the best performing EU starch plants in terms of reducing workplace [...]...
  • UK Discounters Off to a Strong Start in Race For Christmas The latest grocery market share figures from Kantar Worldpanel, for the 12 weeks to 4 November 2018, show shoppers have made an additional 14 million trips to Aldi and Lidl compared with last year. Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, comments: “Five years ago, just under half of British households were [...]...

Wessanen Continues to Make Good Progress

Wessanen Continues to Make Good Progress
February 20
09:43 2017

Wessanen, a leader in the European market for healthy and sustainable food, has reported a 9% increase in revenue to €570.0 million for 2016 compared to the previous year. Autonomous growth was €32.7 million, or 6.0%. The acquisitions of Piramide, Ineobio, Mrs Crimble’s and Biogran in 2016 added 4.9% and a weakening of the British pound exchange rate adversely impacted revenue by 2.2%.

EBITE rose by 18.7% to €41.2 million in 2016 and EBITE as percentage of revenue improved by 60 bps versus last year to 7.2%, despite moderately increased marketing investments.

Christophe Barnouin, chief executive of Wessanen, comments: “In 2016, we continued to make good progress on the transformation to a focused, fast growing, sustainable and profitable business. Our own brands performed ahead of a healthy market and grew 8.5%. Given that we reduced our private label and distribution business, total autonomous growth was 6.0%, in-line with our long term guidance range of 5-7%. Our operating margin went up; EBITE as percent of revenue increased 60 bps to 7.2%.”

Christophe Barnouin, chief executive of Wessanen.

He continues: “We have landed four strategically important acquisitions in 2016. These will provide us with a further strengthened platform for profitable growth across core categories and geographies for the future. The market for healthy & sustainable, especially organic food continues to reflect the trend in consumer behaviour. Our strategy execution is on track and we are playing a leading role in helping consumers across Europe to change to Healthier Food for Healthier People and Planet.”

Total reported growth in 2017 is expected to be low double digit, with continued strong growth of own brands and the effect of 2016 acquisitions being partly offset by lower private label and distribution brand sales. Wessanen expects EBITE as a percent of revenue to be above 8% for the full year.

Overall, the European market for healthy and sustainable food continues to grow significantly albeit at different rates between countries and channels. The French and Spanish markets have grown at double digit rates, while Germany was held back by more moderate growth of the health food store channel. All in all, the European Organic market grew at the upper end of our guidance range of 5-7% and is now approximately €30 billion in size.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • November 21, 2018expoSE European Asparagus and Strawberry Fair
  • November 27, 2018Health Ingredients Europe
  • November 28, 2018FOOD & LIFE
  • December 3, 2018P&P 2018
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements