Sustained growth in turnover over the first half: +13%

5 November 2013

Sustained growth in turnover

over the first half: +13%

Oeneo delivered growth of close to 9% at constant exchange rates during the second quarter of its financial year (July-September). Group performance was fueled by dynamic growth for Diam closures, while activity for its Barrels division held steady over the period despite late and lower harvesting across Europe.

Overall, turnover for Oeneo over the first half of the year increased 13.4% at constant exchange rates.

Closures: 27% increase in Diam sales volumes in the first half of the year

 

Sales of Diam closures continued to soar, with close to 410 million units shipped during the first half, namely an increase of 27% over the period. All group operations overseas reported growth, particularly in the United States, owing to major orders from distribution partner G3 Enterprises, and in Italy where new accounts were signed.

Now accounting for 80% of the division's turnover, the Diam range continues to demonstrate its potential with wine producers across the globe. The group has just launched the construction project of a new Diam closures plant in France (in Céret) which will take its annual production capacity from 1 billion today to around 1.7 billion by 2015.

At 140 million units, sales volumes for other technological closures remained stable over the first half, which must be put in perspective with the decline experienced over the same period the previous year. These volumes are expected to gradually wind down in the coming months in line with group strategy.

Barrels: 3.6% increase in activity in the first half of the year

 

Oeneo Barrels division performed well in the first six months of its financial year despite the relatively late and low harvesting across Europe.

Market share gain in the United States, robust sales of large containers in France (Cognac) and the continuing strong growth in wooden products for the wine industry around the world helped to generate this momentum.

Oeneo intends to continue developing its sales across all geographic regions and to pursue its policy of innovation. The group is currently working on broadening its Icône range, which is derived from the revolutionary process of selecting wood according to its chemical composition.

Next publication:

Half-yearly results on 3 December 2013

About Oeneo Group

Oeneo Group is a major wine industry player. It has a global presence and specializes in two complementary businesses:

• 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 aging wines and spirits for leading market players.

Contacts

Oeneo: Hervé Dumesny +33 (0)1 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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