23 January 2015
Growth of 15% for the first 9 months of the financial year
|In € million||2013-14||2014-15||Change||Change at constant scope and exchange rates|
Oeneo's strong performance over the first nine months of the financial year saw turnover climb by 15% (+13.4% at constant scope and exchange rates), confirming the Group's capacity to win over new market share, both in our two activities, and across all the world's wine-growing regions.
The three months from October to December was another quarter of growth, with turnover up +6.6% (+4.3% at constant scope and exchange rates) despite a high basis for comparison for both business divisions. The Closures division continued to deliver sustained growth driven by sales for its Diam range, whilst the Barrels division posted a solid performance after an exceptional first half.
CLOSURES: More than 700 million Diam closures sold after 9 months and ramp-up in production capacity
Oeneo's Diam closures continue to generate strong growth, with the 718 million units sold since the start of the year (including 229 million in the third quarter) representing a volume increase of 16.3% on the previous financial year. The Diam range now accounts for over 83% of turnover for the division, which helped draw on new market share, particularly in Europe and the United States, as well as a very high level of customers loyalty from one year to the next.
Other technological closure sales account for the remainder of activity and their relative weighting continues to be scaled back in line with the division's strategic roadmap.
2015 will see Oeneo inaugurate its new Diam closures plant in France (in Céret) which will take its annual production capacity from 1.1 billion today to around 1.7 billion.
BARRELS: Robust activity and continued focus on margins' optimization.
Activity over the third quarter for Oeneo's Barrels division consolidated the head-start achieved since the beginning of the year, with turnover up 20.2% (15.1% at constant scope and exchange rates) over the first nine months.
As anticipated, growth over the third quarter was more moderate as certain clients logically placed their orders as of the second quarter to match early harvesting, particularly in Europe and North America.
Despite this unfavorable base effect, and the negative impact of the drop in the euro during the quarter, the Barrels division continued to amass new orders from each of the world's wine-growing regions whilst also benefiting from the €0.6 million contribution to turnover by Vivelys.
Alongside this strong sales dynamic, the teams continue to actively work on optimizing its industrial processes. The division has recently acquired a stave mill in the north east of France to create more value by reinforcing its upstream processes which will allow it to optimize the quality of its casks, manage its procurement more effectively and improve future margins.
2014-15 turnover on 7 May 2015
About Oeneo Group
Oeneo Group is a major wine industry player. It has a global presence and specializes in two complementary businesses:
· Closures, involving the manufacture and sale of high value-added technological closures, including the DIAM closure, an innovation with no equivalent on the market;
· Barrels, providing high-end solutions for aging wines and spirits for leading market players and developing innovative solutions for the wine industry with Vivelys (R&D, consulting, systems).
Hervé Dumesny / Philippe Doray +33 (0)1 44 13 44 39
Guillaume Le Floch +33 (0)1 53 67 36 70 Analysts - Investors
Alexandra Prisa +33 (0)1 53 67 36 90 Media Relations
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|OENEO||Euronext Paris||9.68 (c)||-0.51%||6 614|