Bonduelle Maintains Profitability in First Half Despite Headwinds
On Friday, Bonduelle Group released its first semester results for the fiscal year 2025-2026, a period marked by challenging market conditions in Europe and the United States. Despite a demanding environment characterized by Chinese corn imports and increased price pressure, the group has maintained stable revenue and profitability.
Financial Performance Overview
Bonduelle Group recorded a revenue of 1,111.1 million euros in the first half of the fiscal year 2025-2026, showing a slight increase of 0.3% on a like-for-like basis and a decrease of 0.7% on a reported basis. This performance occurred in a lackluster consumption environment in Europe and the United States. The second quarter exhibited a slightly better trend with a growth of 1.1% on a like-for-like basis. The European zone, accounting for 60.7% of the activity, showed a growth of 0.2% on a like-for-like basis, while the non-European zone, representing 39.3% of the revenue, grew by 0.5% on a like-for-like basis.
Operational Results and Financial Position
The current operating income stood at 50.5 million euros with an operating margin of 4.5%, compared to 48.0 million euros and 4.3% in the previous year, marking an improvement of 5.1% on a reported basis but a decline of 2.2% at constant exchange rates. The net result from continuing operations rose to 20.4 million euros, representing 1.8% of the revenue, compared to 17.2 million euros in the previous year. Including the net result from discontinued operations related to the divestment of salad activities in France and Germany, the consolidated net result amounted to 56.5 million euros compared to a loss of 5.0 million euros a year earlier. The net financial debt increased to 770.0 million euros as of December 31, 2025, from 755.5 million euros in the previous year, while the gearing ratio improved to 1.16 from 1.23.
Future Outlook and Corporate Developments
The group targets a current operating profitability of 80 million euros for the fiscal year ending June 30, 2026, at constant exchange rates and scope. Bonduelle has achieved 100% B Corp certification for its global activities since January 1, 2026, as part of its 18-month-old Transform to Win transformation plan. A dividend of 0.25 euros per share was paid on January 8, 2026, following the vote at the general meeting on December 4, 2025.
