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Oeneo — Earnings Release 2012
Nov 5, 2012
1567_iss_2012-11-05_c1cffbf1-d88f-4e61-aa08-4a144da1b3b9.pdf
Earnings Release
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| € million |
2011-12 published |
2011-12 restated* |
2012-13 | Change | Like-for-like change** |
|---|---|---|---|---|---|
| ndquarter 2 |
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% |
| sthalf 1 |
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% |
Return to growth in the second quarter
*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 for Revtech
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 increased +7.2% (organic growth of for the first six months of 2012 to +3.0% to market share gains and a more positive economic strong second quarter in 2012. Turnover for the period c +3.0%), taking the business line's total published growth +3.0%. Activity was particularly robust in America thanks backdrop. . e's les in France over the
These figures have also enabled the group to offset the slight last quarter which is linked to later harvests than in previous years and orders for large containers. Oeneo third quarter. dip in sales inked Oeneo therefore expects to benefit from a catch to the phasing of catch-up effect in the
Oeneo will publ Next meeting: 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 innovation with no equivalent on the market value-added technological closures, including the DIAM closure, an market, areas: ded
• Barrels, providing high-end solutions for ageing wines and spirits for leading market players. end
Contacts Oeneo:Hervé Dumesny 01 44 13 44 39 Actus Finance: Guillaume Le Floch +33 (0)1 72 74 82 25 Alexandra Prisa +33 (0)1 53 67 35 79 1 Analysts - Investors Media Relations
French limited company with a capital of Head Office: 123 avenue des Ch OENEO SA 51,177,947 euros Champs Elysées - 75008 PARIS