OENEO : First-half growth of 9.2% after excellent second quarter Closures accelerate, Barrels perform strongly

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Sales (¤ million) 2010-11 2011-12 Change Organic
change*
First Half        
Closures 30.8 36.3 +17.7% +17.8%
Barrels 39.4 39.1 -0.9% +2.6%
Total 70.2 75.4 +7.3% +9.2%

* At constant perimeter and exchange rates - unaudited data

Oeneo had an excellent second quarter, with group sales up 11.3% to ¤75.4 million (9.2% organic growth) in the first half of financial 2011-12. The remarkable success of Diam enabled the Closures Division to accelerate its growth rate to 17.8%. The Barrels division returned to growth (+2.6%), improving its market share.

Closures: Strong 17.8% growth like-for-like

Divisional sales experienced very strong growth (+ 24.8%) in the second quarter, ending this first semester at ¤36.3 million, an organic growth of 17.8%.

Delivering a 23% volume increase with almost 300 million closures sold in the first six months, the Diam range is fast becoming one of the world's preferred choice.

Diam sales rose across all regions, for still and sparkling wines alike. This increase was driven in equal parts by larger orders from existing customers, demonstrating their high satisfaction level, and new customer accounts.

Diam looks set to continue to deliver sustained growth in the months ahead. The group has signed new distribution partnerships since the start of the year, notably in Australia.

Barrels: Excellent performance on the French market

In the first half, the division generated sales of ¤39.1 million, up 2.6% at constant exchange rates.

After a traditionally less buoyant first quarter given the seasonal nature of the business, the second quarter saw organic growth of 4.4%.  The good momentum in France, helped by an early harvest, and across Europe more than offset the relative decrease in North America, partly due to the late harvest.

This first half is fully in line with group objectives, which are to improve market share while enhancing productivity.

About the Oeneo group
The Oeneo Group is a major wine industry player. It has a global presence and specialises 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.

Contacts:
Oeneo Hervé Dumesny + 33 (0)1 44 13 44 39
Actus Finance:
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

Appendix

Breakdown of sales by division and by quarter

Sales (¤ 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%
First half        
Closures 30.8 36.3 +17.7% +17.8%
Barrels 39.4 39.1 -0.9% +2.6%
Total 70.2 75.4 +7.3% +9.2%

* At constant perimeter and exchange rates - unaudited data

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