* at constant scope and exchange rates - pre-audit figures
Turnover for Oeneo at the end of December 2011 (9 months) stood at ¤111.4 million, up 6.4% like-for-like on the previous year which is in line with the group's business plan.
Third-quarter turnover increased 0.9% like-for-like to ¤36 million, with the strong growth in Closures (+13.2%) compensating for the dip, albeit temporary, in Barrels which is primarily linked to a high basis of comparison (double-digit growth in Q3 2010).
Closures: almost 430 million Diam closures sold since the beginning of the financial year
After a record second quarter, Oeneo's Closures division performed well again from October to December despite what is traditionally a quiet period for the activity. Organic growth amounted to 13.2% for a turnover of ¤16.6 million in the third quarter, and 16.3% for a turnover of ¤52.9 million for the first nine months of the financial year.
The resounding success of the Diam range remains the fundamental driver behind the division. The almost 430 million closures sold in the space of nine months represent a 20.8% increase in volumes as the range continues to thrive, with sales up across all regions, particularly the United States and Western Europe.
Backed by an impressive level of repeat custom from existing clients, Oeneo group confidently looks forward to the last three months of its financial year which is usually its busiest period in terms of volumes.
Barrels: good momentum in Europe
Third-quarter turnover for Oeneo's Barrels division fell 7.7% like-for-like to ¤19.4 million, impacted by a high basis of comparison with the third quarter of 2010-11 which had seen exceptional double-digit growth.
Activity over the first nine months of the financial year was virtually stable (-1% like-for-like), in line with group expectations. Strong sales in Europe compensated for a very subdued market in North America and a slow start in the southern hemisphere in December.
Against this backdrop, the group was able to keep profitability on track, maintaining pricing in line with its strategic high-end market positioning, and reinforcing the recognized technological expertise behind its products.
Awarded the Gold Trophy for Innovation at the Vinitech Trade Fair in 2010, the Oakscan process developed by Radoux went on to win the FuturoboisTrophée de l'innovation in 2011. Oakscan is the world's first application to use infrared spectrometry to provide an instant and accurate analysis of the tannins in each stave of a barrel before it is assembled. By enabling winemakers to precisely select tannins to match the style of a wine, the process allows them to reproduce the right aging conditions and improve product quality.
Investments in alternative products also continued to bear fruit, generating double-digit growth worldwide over the period.
About Oeneo group
Oeneo group is a major wine industry player. It has a global presence and specializes in two complementary business areas:
o Closures, involving the manufacture and sale of high value-added technological closures, including the DIAM closure, an innovation with no equivalent on the market;
o Barrels, providing high-end solutions for ageing wines and spirits for leading market players.
Oeneo: Hervé Dumesny +33 (0)1 44 13 44 39
Guillaume Le Floch +33 (0)1 72 74 82 25 Analysts - Investors
Clémence Fugain +33 (0)1 53 67 35 71 Analysts - Investors
Alexandra Prisa +33 (0)1 53 67 35 79 Media Relations
Annex: Breakdown in turnover by division and by financial quarter
|Turnover (¤ million)||2010-2011||2011-2012||Change||Organic change*|
* at constant scope and exchange rates - pre-audit figuresInformation réglementée
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