OENEO : STRONG GROWTH IN Q3 2017-2018 +12.7%

Turnover (€m)
2016-2017
2017-2018
Change
Change at constant exchange rates


3^rd quarter
55.0
61.5
+11.8%
+12.7%


o/w Closures
36.0
42.3
+17.6%
+17.8%


o/w Winemaking
19.0
19.2
+0.9%
+3.0%


9 months
182.7
197.2
+7.9%
+8.2%


o/w Closures
114.4
128.8
+12.7%
+12.7%


o/w Winemaking
68.4
68.3
(0.1%)
+0.7%

Oeneo saw growth in turnover accelerate to €61.5 million in the third quarter of 2017-2018, up 11.8% (12.7% at constant exchange rates) in line with the Group's robust performance since the start of the year.

The Group continued to benefit in full from the global success of the Diam range, which once again enjoyed strong sales, and a Winemaking division that held up well despite weak harvests around the world thanks to its premium positioning and international coverage.

After nine months of activity, total turnover amounted to €197.2 million, up 7.9% (8.2% at constant exchange rates), which is consistent with the Group's strategic roadmap.

Oeneo's Diam range delivered another excellent performance in the third quarter of financial year 2017-2018, despite increasing market share, and continued to notch up sharp growth, both in key countries across Europe (France, Spain, Italy) and the American continent (Argentina, United States), and in countries in which its presence is more recent (such as Austria or South Africa).

Other technological closures (including the Pietec range from Piedade) also reported an increase in turnover, and more than compensated for the predicted drop in closures with a lower value-added from Piedade.

Sales are expected to stay strong, even if the increase should logically slow given the high base effect linked to the recent sharp increase in new market share and the deferred effect of weak harvests in 2017.

Despite the drop in production linked to weather conditions, particularly in Europe, turnover for Oeneo's winemaking division increased 3.0% at constant exchange rate in the third quarter of 2017-2018, confirming its robust market share. Growth in North and South America and in Asia was particularly strong over the period.

Turnover for the division was stable over nine months and in line with targets, and up for its strategic activities (casks, large containers, oak products for the wine industry and solutions), underpinning its capacity to withstand troughs in global wine production cycles.

The Group continues to reap the benefits of its development plan that is focused on premium positioning and increasing penetration on international markets.

Oeneo Group is a major wine industry player with high-end and innovative brands. Present around the world, the Group covers each stage in the winemaking process through two core and complementary divisions:

Closures, which manufactures and sells cork closures, including high value-added technological closures through its Diam range and traditional closures through its Piedade range.

Winemaking, which provides high-end solutions in winemaking and spirits for leading market players with Seguin Moreau and develops innovative solutions for the wine industry with Vivelys (R&D, consulting, systems).

Oeneo prides itself in offering solutions in the production, maturing, preservation and enhancement of wines or spirits that faithfully convey all of the emotion and passion of each winegrower and improve their performance.

WE CARE ABOUT YOUR WINE

OENEO SA


 

French limited company with a capital of 63,180,843 euros

Head Office: 16 Quai Louis XVIII – 33000 Bordeaux

Tel. +33 (0) 5 45 82 72 61

www.oeneo.com

Source: Actusnews