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Oeneo — Earnings Release 2013
Apr 30, 2013
1567_iss_2013-04-30_abaa01d0-7445-443b-9e54-de8447a14935.pdf
Earnings Release
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30thApril 2013
Turnover growth confirmed: +5.2% (organic) in 2012-13 Good performance for both divisions P&L forecast for 2012-13 (pre audit)
| Turnover In € million |
2011-12 Published |
2011-12 Proforma* |
2012-13 | Delta | Like-for-like change** |
|---|---|---|---|---|---|
| 4th quarter | 41.6 | 34.8 | 37.1 | +6.5% | +6.6% |
| o/w Closures | 22.5 | 22.5 | 23.9 | +6.4% | +6.3% |
| o/w Barrels | 19.1 | 12.3 | 13.1 | +6.7% | +7.3% |
| 12 months | 153.0 | 126.6 | 134.7 | +6.4% | +5.2% |
| o/w Closures | 75.4 | 75.4 | 79.4 | +5.3% | +4.8% |
| o/w Barrels | 77.6 | 51.2 | 55.3 | +7.9% | +5.8% |
2012-13 turnover (pre-audit) - *Excluding Radoux which was sold at the end of March 2012 - ** At constant exchange rates
In line with the trend experienced during the first nine months of the year, Oeneo's solid performance in the fourth quarter of 2012-13 resulted in a 6.5% increase in turnover and uniform growth across both divisions.
With turnover for the full year amounting to €134.7 million (+5.2% like-for-like), Oeneo's pre-audit forecasts point to a current operating margin slightly above €20 million for the period (against €19.0 million like-for-like in 2011-12). Net debt is expected to amount c. €8 million by close of the year (compared with €12.1 million on 31stMarch 2012).
Closures: Nearly one billion closures sold including 710 million from the Diam range
Oeneo's Closures division benefited once again from the success of its Diam range with sales volumes increasing 12.8% to reach 710 million units, and from a positive product mix that resulted in a 15.0% increase in value terms. Sales were particularly upbeat in the United States and across Europe (excluding France).
Sales volumes for other technological closures fell 27% to around 280 million units (-17.6% in value), in line with the Group's strategy to withdraw gradually from ranges with lower added value than Diam.
Barrels: a better momentum
Oeneo's Barrels division returned to growth in financial year 2012 turnover (increase of 5.8% in organic in the United States, prompting local Oeneo to benefit from its sales lines, notably large containers and alternative products. 2012-2013, with organic). The group benefited from a very satisfactory wine producers to start investing again and efforts in recent years. Sales were dynamic 2013, a € 55.3 million satisfactory harvest enabling dynamic across all product
Outlook: a new Diam plant in France
In the current uncertain economic climate, particularly in Europe, Oeneo remains cautious with its expectations while still geographic regions. still determined to continue developing its activities across all
The Board of Directors has approved of cork through supercritical CO million, this investment will enable the group to Diam closures to over 1.5 billion units by mid d launching construction of a new plant for the treatment 2 extraction at Céret in France. Estimated at t increase the yearly production capacity of mid-2015. at a cost of €25
Oeneo group will publish its 2012 2012-13 annual results on 3rd June.
About Oeneo Group
Oeneo Group is a major wine industry player. It businesses: It has a global presence and specialises in two complementary es added
• Closures, involving the manufacture and sale of high value closure, an innovation with no equivalent on the market; value-added technological closures, including the DIAM
• Barrels, providing high-end solutions for ageing wines and spirits for leading market players. end
Contacts
Oeneo: Hervé Dumesny +33 (0)1 44 13 44 39
Actus Finance:
Guillaume Le Floch +33 (0)1 72 74 82 25 Analysts Alexandra Prisa +33 (0)1 53 67 35 79 - Investors Media Relations