Return to growth in the second quarter
5 November 2012
OENEO
Return to growth in the second quarter
| € million | 2011-12 published |
2011-12 restated* | 2012-13 | Change | Like-for-like change** |
| 2ndquarter | 44.5 | 35.7 | 37.5 | +5.0% | +2.5% |
| Closures | 17.5 | 17.5 | 18.0 | +2.8% | +1.9% |
| Barrels | 27.0 | 18.2 | 19.5 | +7.2% | +3.0% |
| 1sthalf | 75.4 | 62.3 | 63.5 | +2.1% | +0.3% |
| Closures | 36.3 | 36.3 | 36.8 | +1.4% | +0.8% |
| Barrels | 39.1 | 26.0 | 26.7 | +3.0% | -0.5% |
*Restated for Radoux Group which was sold in March 2012
** At constant scope and exchange rates
Oeneo enjoyed a more dynamic second quarter in 2012, with growth for the period coming in at +5.0% (organic growth of +2.5%) as its Barrels division bounced back following a lackluster first quarter and its Diam range continued to drive Closures.
Overall, turnover for the first six months of 2012 increased +2.1% (organic growth of +0.3%) to stand at €63.5 million.
Closures : Diam success offsets scheduled cutbacks forRevtech
Sales for Oeneo's Diam closures continued to actively underpin growth around the world despite a one-off negative base effect in Australia (transfer of stock to new distributor during the second quarter of last year). This strong trend was even more pronounced for still wines, whilst sparkling wines - particularly Champagne - continued to suffer from a gloomier climate.
Over 320 million Diam closures were sold in the first half of 2012, an increase of +7.5% on the previous year. Excluding Australia, sales increased +11.5% in volume and +15.3% in value thanks to the positive price effect of a more successful product mix and to the group's capacity to pass on a substantial part of the rise in commodities prices.
At the same, Oeneo pursued its decision to break away from ranges with less value added (Revtech) which now only account for 20% of total volumes (30% at the end of September 2011). This strategy will continue in the months to come.
Barrels: dynamic performance in America
Oeneo's Barrels division had a strong second quarter in 2012. Turnover for the period increased +7.2% (organic growth of +3.0%), taking the business line's total published growth for the first six months of 2012 to +3.0%. Activity was particularly robust in America thanks to market share gains and a more positive economic backdrop.
These figures have also enabled the group to offset the slight dip in sales in France over the last quarter which is linked to later harvests than in previous years and to the phasing of orders for large containers. Oeneo therefore expects to benefit from a catch-up effect in the third quarter.
Next meeting:
Oeneo will publish its half-yearly results on December 4, 2012
About Oeneo group
Oeneo group is a major wine industry player. It has a global presence and specializes in two complementary business areas:
• Closures, involving the manufacture and sale of high value-added technological closures, including the DIAM closure, an innovation with no equivalent on the market,
• Barrels, providing high-end solutions for ageing wines and spirits for leading market players.
Contacts
Oeneo:Hervé Dumesny 01 44 13 44 39
Actus Finance:
Guillaume Le Floch +33 (0)1 72 74 82 25 Analysts - Investors
Alexandra Prisa +33 (0)1 53 67 35 79 Media Relations
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- Communiqué sur comptes, résultats, chiffres d'affaires
Communiqué intégral et original au format PDF :
http://www.actusnews.com/documents_communiques/ACTUS-0-29878-com-oeneo-s1-2012-13-vf-en.pdf
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