Utrecht, October 31, 2007
Total revenue in Q3-07 was EUR 387.9 million (Q3-06: EUR 373.2 million).
Currency effect had a negative impact of EUR 20.4 million. Solid growth figures
at all four businesses – on or above target.
EBIT amounted to EUR 13.1 million in Q3-07 (Q3-06: EUR 6.3 million).
Net profit attributable to equity holders of Wessanen was EUR 9.9 million in
Q3-07 (Q3-06: EUR 3.6 million, excluding profit of discontinued operations).
Cash generated from operations in the first nine months of 2007 amounted to EUR
21.2 million (EUR 41.9 million in the same period last year).
Ad Veenhof, Wessanen CEO, comments: "We are pleased to see that all four
businesses demonstrate solid growth in revenue. In fact, three of our four
businesses are showing growth figures that are on or above our year-end target
levels of 5-7%. In North America, our branded operations show growth of 13% and
our distribution operations are growing by 7.7%. Europe Distribution revenue
growth at 9.5% is well above our year-end target levels, whereas Europe Branded
is clearly on the right track with a comparable growth level of 4.4%. EBIT
margins also improved in all four businesses. In the North American and
European branded operations this was achieved including higher investments in
advertising and promotion, whereas in the North American and European
distribution businesses EBIT margins improved as a result of better cost
control and efficiencies. On the whole, the current trend is promising and by
the closure of 2007 we will review the run rate target levels for the coming
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