SAVENCIA: Activity at the end of September 2024
October 24 2024 - 12:46AM
UK Regulatory
SAVENCIA: Activity at the end of September 2024
Thursday, October
24, 2024
Press Release: activity at the end of
September 2024
Key figures in €M
|
30/09/24
|
% of sales
|
30/09/23
|
% of sales
|
% changes |
|
Total |
Structure |
Change &
IAS 29 |
Organic growth (1) |
|
Sales |
5,082 |
|
5,017 |
|
1.3 |
1.3 |
-2.2 |
2.2 |
|
- Cheese Products |
2,879 |
56.7 |
2,905 |
57.9 |
-0.9 |
0.0 |
-1.0 |
0.1 |
|
- Others Dairy Products |
2,380 |
46.8 |
2,272 |
45.3 |
4.8 |
2.9 |
-4.0 |
5.9 |
|
- Unallocated |
-178 |
-3.5 |
-159 |
-3.2 |
11.5 |
0.1 |
-4.8 |
16.2 |
Savencia Fromage & Dairy Group's sales as of
September 30, 2024, increased by 1.3% from last year. Despite an
unfavorable exchange rate effect of 2.2%, this growth is driven by
an organic increase of 2.2%, attributable to Other Dairy Products,
as well as a positive structural effect of 1.3% resulting from the
integration of Williner since April 2023.
At constant structure and exchange rates, Cheese
Products sales remained stable, recording a slight organic growth
of +0.1%. This stability is mainly due to a favorable price effect,
which compensates the decrease in volume affected by a consumption
context still impacted by inflation.
Other Dairy Products sales posted an organic
growth of 5.9% at the end of September, benefiting from an
acceleration in the third quarter and favorable base effects. This
growth is linked to a positive dynamic in international markets and
out-of-home food service activities.
In a geopolitical and economic environment still
volatile and uncertain, the dairy economy remains impacted by
record milk prices, particularly in France, and an atypical market
situation for industrial products prices.
In this context, Savencia Fromage & Dairy
Group is maintaining its efforts to adapt and invest by developing
the complementarity of its various businesses. In line with its
commitments and values, the Group intends to respond to the
uncertainty of the environment by relying on the quality of its
products and the commitment of all its teams, in line with its
mission: "Leading the way to better food".
CRS commitments
The Savencia Fromage & Dairy teams remain
strongly mobilized on the many projects that contribute to its
commitments in terms of Social and Environmental Responsibility. In
this context, Savencia continues to develop its relationship with
all its stakeholders. In July, the Group joined the ORÉE (oree.org)
organization, an association which, for thirty years, has been
leading and federating a network of actors committed to setting up
an environmental dynamic at the service of the territories,
particularly on topics such as biodiversity or the circular
economy.
(1) Explanatory note: change in
aggregate presentations
The definitions and methods of the organic
growth and currency effect aggregates have changed with effect from
1st January 2024, as explained below.
The definition of the “structure effect” aggregate has not changed.
The definition is disclosed in the Group's financial
report.
Since January 1st, 2024, Argentina, a
country with a hyperinflationary economy, is included in the
variations in organic data as follows: the growth in net turnover
in this country exceeding approximately 26% per year (on average an
annual inflation level of 26% over 3 years generally requires the
application of hyperinflation restatement within the meaning of
IFRS standards) is excluded from the calculation of net turnover
growth in organic data and integrated with the impact of the
hyperinflation restatement (IAS 29) and exchange rate
effects
Note: 2023 items have not been
restated
Further information
can be found on the website savencia-fromagedairy.com
- Savencia SA - Activity at the end of September 2024
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