OENEO : Strong growth in Q1 2014-15
23 July 2014
Strong growth in Q1 2014-15
(in € million)
||Change at constant exchange rates|
Oeneo generated turnover of €37.2 million in the first three months of its financial year (April-June), up +20.5% at constant exchange rates.
Overall, the quarter was another period of very dynamic growth for the Group's Closures division, with the Barrels division also posting an excellent performance, primarily due to the early start to the wine year North America and in France
This first quarter bodes well for a year of sustained growth and market share gains on a global scale.
Closures: Diam closures continue to thrive
The first quarter of 2014-15 was yet another period of very strong growth, despite a high basis for comparison, particularly in the US.
With more than 260 million units sold, Diam volumes increased by close to 20%, driven by sales in Europe and substantial new market share in France and across the continent. Diam sales now account for 80% of the division's turnover.
Other technological closures account for the remainder of activity, and their relative weighting should continue to be scaled back in the coming months.
Construction continues on the "Diamant 3" plant in Céret which is expected to be up and running around June 2015 in line with the division's strategic roadmap.
Barrels: Strong growth in first quarter
Oeneo's Barrels division enjoyed an excellent start to the year, with turnover climbing 34% at constant exchange rates.
Drawing on the success of its sales drives in the United States which are underpinned by favorable harvest conditions and its strong start to the year in Europe, Oeneo is looking forward to continued growth in 2014-15.
All in all, this extremely positive start to the year is confirmation that activity is firmly on the right track.
About Oeneo Group
Oeneo Group is a major wine industry player. It has a global presence and specializes in two complementary businesses:
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 aging wines and spirits for leading market players.
Hervé Dumesny +33 (0)1 44 13 44 39
Guillaume Le Floch +33 (0)1 72 74 82 25 Analysts-Investors
Alexandra Prisa +33 (0)1 53 67 35 79 Media Relations
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