Q1 2014 results
Analyst, investor & media call
25 April 2014
Off to a good start of the year
Revenue growing 4.3%
Autonomous revenue growth at Branded 4.1%, at ABC (8.9)%
Core brands ...
Q1 key figures
In € mln Q1 2014 Q1 2013
Revenue 129.6 124.3 
Autonomous growth 1.7%
Normalised EBIT 9.3 8.1 
as % of rev...
Branded - business review
Revenue up 8.0% to €109.9 mln
Autonomous revenue growth 4.1%, all due to volume
Core brands and ...
ABC - business review
Revenue declined (12.5)% to €19.7 mln
Autonomous growth (8.9)%
Little Hug continued to grow double d...
Closing remarks
Solid foundation in health and sustainable food
5 sources of value creation
• Divest non-core
• Grow marke...
A sound financial position
In € mln Mar 14 Dec 13
Non-current assets 116.7 118.0
Current assets 242.3 219.7
Total assets 3...
(Financial) guidance (continuing operations only)
FY 2014 EBIT(E)
Wessanen is expected to report a higher EBITE in 2014
AB...
Wessanen overview
TSR peer group
Bonduelle Lotus Bakeries
Bongrain Nutreco
Corbion Premier Foods
Ebro Foods Sligro
Fleury ...
Wessanen q1 2014 analyst&investor meeting 25 april
Upcoming SlideShare
Loading in …5
×

Wessanen q1 2014 analyst&investor meeting 25 april

466 views

Published on

Presentation by Wessanen for analysts, investors and media in relation to its Q1 2014 trading update

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
466
On SlideShare
0
From Embeds
0
Number of Embeds
11
Actions
Shares
0
Downloads
3
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Wessanen q1 2014 analyst&investor meeting 25 april

  1. 1. Q1 2014 results Analyst, investor & media call 25 April 2014
  2. 2. Off to a good start of the year Revenue growing 4.3% Autonomous revenue growth at Branded 4.1%, at ABC (8.9)% Core brands and categories growing EBITE increased , mainly driven by Branded Good progress on divesting discontinued operations Sale Natudis closed Agreement signed with Egeria for sale of IZICO
  3. 3. Q1 key figures In € mln Q1 2014 Q1 2013 Revenue 129.6 124.3  Autonomous growth 1.7% Normalised EBIT 9.3 8.1  as % of revenue 7.2% 6.5% EBIT 9.2 7.4  Profit from continuing operations 5.6 4.7  Profit/(loss) from discontinued operations (0.6) 0.4  Profit for the period 5.0 5.1  Earnings per share 0.07 0.07 
  4. 4. Branded - business review Revenue up 8.0% to €109.9 mln Autonomous revenue growth 4.1%, all due to volume Core brands and categories showing good growth Clipper, Zonnatura and Tartex showing double digit growth European roll out Clipper progressing well France, Germany and UK growing; Benelux impacted by cutting the tail project Integration Alter Eco on track 85% Branded ABC
  5. 5. ABC - business review Revenue declined (12.5)% to €19.7 mln Autonomous growth (8.9)% Little Hug continued to grow double digit, outpacing declining category 2nd production line added to Arizona manufacturing facility RTD frozen pouch segment remained under pressure Daily’s clear market leader, gaining market share ABC back to profitability in 2014 15% Branded ABC
  6. 6. Closing remarks Solid foundation in health and sustainable food 5 sources of value creation • Divest non-core • Grow market share of core brands • Acquire selectively • Upgrade operations • Green and entrepreneurial culture 2014: Focus on driving core, finalise portfolio pruning, realise divestments
  7. 7. A sound financial position In € mln Mar 14 Dec 13 Non-current assets 116.7 118.0 Current assets 242.3 219.7 Total assets 359.0 337.7 In € mln Mar 14 Dec 13 Total equity 111.3 105.4 Non-current liabilities 67.9 72.5 Current liabilities 179.8 159.8 Total equity & liabilities 359.0 337.7 0 25 50 75 100 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Net debt 0 1 2 3 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Leverage ratio 56.6 1.8x In € mln
  8. 8. (Financial) guidance (continuing operations only) FY 2014 EBIT(E) Wessanen is expected to report a higher EBITE in 2014 ABC is expected to be profitable again in 2014 Non-allocated expenses (including corporate expenses) €(2-3) mln Financial items Net financing costs €(2) mln Effective tax rate around 30-35% Capital expenditures €(4) mln Depreciation and amortisation €(11) mln
  9. 9. Wessanen overview TSR peer group Bonduelle Lotus Bakeries Bongrain Nutreco Corbion Premier Foods Ebro Foods Sligro Fleury Michon Wessanen 7.3% 3.8% Executive Board CEO Christophe Barnouin (1968) CFO Ronald Merckx (1967) Shares 2013 Avg. # of shares 75.7 mln EPS €0.00 Dividend €0.05 Pay-out ratio 42% Ratios 2013 EBITE (in%) 2.6% RoCE (in %) 7.0% Leverage ratio 1.6 x Debt to equity 48% Capex to revenue 1.0% Royal Wessanen 1765 Incorporated 1913 Royal warrant granted 1959 Listed at Euronext Corporate Communications & Investor Relations Carl Hoyer +31 20 3122 140 +31 6 123 556 58 Carl.hoyer@wessanen.com www.wessanen.com Twitter: @royalwessanen Valuation Market cap €307 mln (24 April) Debt €56.6 mln (31 Mar)

×