Utrecht, February 26, 2008
Total revenue in Q4-07 was EUR 411.5 million (Q4-06: EUR 407.8 million).
Currency effect contributed EUR 33.3 million negatively. Solid growth figures
at all four businesses – on or above target.
EBIT amounted to EUR 22.3 million in Q4-07 (Q4-06: EUR 12.3 million). Negative
currency effect EUR 1.0 million.
Profit attributable to equity holders of Wessanen was EUR 15.7 million in Q4-07
(Q4-06: EUR 8.4 million, excluding profit from discontinued operations)
Cash flow generated from continuing operations in 2007 was EUR 30.1 million
(2006: EUR 60.3 million).
Ad Veenhof, Wessanen CEO, comments: “I am pleased with the results we are
presenting today. We have achieved profitable returns from each of our
divisions. Our efforts spent on restructuring the businesses in North America
and Europe, strengthening our brand and innovation strategy and optimizing our
customer services in distribution have resulted in growth levels in line with
or above our run-rate year-end 2007 targets.
The turning point came in the second quarter of 2007, when our North American
distribution business started posting positive growth. Since the other three
divisions were already trading profitably, North America Distribution’s
turnaround has marked a highly significant point in the development of the new
Our key focus is on autonomous growth, healthy margins and a further increase
of our operating profit. In this stage, acquisitions will be regarded to
strengthen organic growth and should fit with our existing business focus.
Furthermore, in light of our pursuit of 'Authenticity', we will take further
steps with regard to supply chain transparency and sustainability.
As we cannot predict the effects of the economic developments in North America
and – potentially – Europe, we need to be cautious in our financial forecast.
Nonetheless, we have decided to increase the growth target levels for our North
American branded and distribution businesses from 5-7% to 6-8% and we are
confident that we will be able to realize the growth target levels of 5-7% for
both our European businesses.”
For more details, please download the complete document.
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