OENEO : Dynamic growth in 2011-12: +8% More than one billion Closures sold in one year Solid performance for Barrels

le
0
¤ million 2010-2011 2011-2012 Change Like-for-like change (*)
12 months
Closures
65.0 75.4 +16.0% +16.1%
Barrels 77.5 77.6 +0.2% +1.2%
Total 142.5 153.0 +7.4% +8.0%

* at constant scope and exchange rates - pre-audit figures

Oeneo enjoyed an excellent fourth quarter in FY 2011-12, with like-for-like turnover up 12.5% to stand at ¤41.6 million. Over the period, the group's Closures division continued to generate robust growth of 15.7%, and sales for its Barrels activity climbed a solid 8.9%.

Bolstered by this acceleration in growth, yearly turnover for 2011-12 increased 8% to ¤153 million, largely driven by the Closures division (+16.1%), with sales for Barrels nudging + 1.2%, in line with forecasts.

This strong activity will afford the group a new increase in its current operating margin for the year.

Closures: more than one billion units sold, including close to 630 million units for the Diam range

Oeneo's Closures division posted strong growth again in 2011-12 (+16.1%). Coming in at ¤75.4 million, turnover thrived on the resounding success of the Diam range and a favorable product mix, taking the group past the symbolic mark of one billion technological closures sold.

Volumes for the Diam range increased 22.2%. Notching up double-digit growth across all key regions, demand amounted to close to 630 million units over the period. During the last 3 months (January to the end of March), which is traditionally the busiest time of the year, Diam sales climbed 25.1% to a quarterly record of 201 million units.

All told, Diam Closures accounted for 70% of division turnover and are expected to up their share even further in the coming financial year, as Oeneo actively develops their sales to wine producers around the world in line with its strategic goal to accelerate their replacement of other technological closures.

Barrels: performance in line with initial targets

Against a morose market backdrop, Oeneo's Barrels division saw a moderate increase in turnover in 2011-12 to ¤77.6 million (+1.2% at constant exchange rates). This performance is globally in line with expectations, and primarily comes on the back of a strong fourth quarter (+8.9%).

The group' strategic decision to dispose of the Barrels activity of Radoux (Radoux, Victoria and Pronektar brands), which was sold off at the end of March, had an inevitable impact, as the group now focuses exclusively on the very high-end positioning of its Seguin Moreau range and on its subsidiary, Boisé France, which specializes in quality wooden products for the wine making industry.

Excluding Radoux, the division's turnover stood at ¤48.9 million, up 3.9% on its pro-forma figure for 2010-11.

Outlook

Proud of its recovery so far, Oeneo group fully intends to maintain the virtuous development cycle of closures, and to reinforce its market share in barrels, whilst at the same time continuing to improve its operating performance across its remaining scope.

Oeneo group will publish its yearly results for 2011-12 on May 30 before the markets open.

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.


Annex: Breakdown in turnover by division and by financial quarter

Turnover (¤ million) 2010-2011 2011-2012 Change Organic change*
First quarter
Closures 16.8 18.8 +11.8% +11.9%
Barrels 12.4 12.1 -2.6 -1.4%
Total 29.2 30.9 +5.7% +6.3%
Second quarter
Closures 14.0 17.5 +24.9% +24.8%
Barrels 27.0 27.0 = +4.4%
Total 41.0 44.5 +8.4% +11.3%
Third quarter
Closures 14.8 16.6 +12.6% +13.2%
Barrels 21.0 19.4 -7.4% -7.7%
Total 35.7 36.0 +0.9% +0.9%
Fourth quarter
Closures 19.5 22.5 +15.7% +15.7%
Barrels 17.0 19.1 +12.1% +8.9%
Total 36.5 41.6 14.0% +12.5%

* at constant scope and exchange rates - pre-audit figures

OENEO SA
 French limited company with a capital of 50,619,913 euros
Head Office: 123 avenue des Champs Elysées - 75008 PARIS

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