OENEO : Strong sales trend in first-half 2010-2011 : Sales up 7.2%
|Change||Like-for-like change (*)|
(*) at constant consolidation scope (excluding Sibel from the Barrels division) and at constant exchange rates
The Oeneo group generated sales of €70.2 million during the first half, up 7.2% like-for-like, confirming its return to strong growth in an economic environment that remains sluggish.
Divisional half-yearly trends are in line with the group's full-year forecasts. In the Closures division, Oeneo is reaping the benefits of its strategy and technological lead. In the Barrels division, the group has consolidated its export market share in a global market still at the bottom of cyclical downswing.
Buoyed by a strong activity in the first six-months, the Oeneo group will announce a sharp increase in its half-yearly results at the end of November, illustrating its continued virtuous development.
Closures: 245 million Diam closures sold during the half-year: +38%
The group posted a strong half-yearly growth with turnover of €30.8 million - an increase of 20.7%, like-for-like (Sibel, which was sold and deconsolidated in February 2010, contributed in €1.8 million to consolidated turnover in the first half of 2009-2010).
Following a normal rebuilding of inventories in the first quarter, the new distribution partnership with G3 Enterprises in the United States is already a success, which is illustrated by the excellent level of customer orders for Diam closures in the second quarter. The group also recorded sales in Southern Europe and Latin America, testifying of the satisfaction of global wine growers with the Diam range.
Due to the fact that the first manufacturing facility has been running at near saturation levels in the first half, the Oeneo group confirms the launch of its second manufacturing facility in Spain at the end of 2010 in order to drive the growing success of Diam closures.
Oeneo has also recently won several sales contracts with spirits (whisky) manufacturers in the UK for its range of technological corks with tops, rewarding the group's sales energetic prospecting efforts in recent years.
Barrels: positions bolstered in the wine sector
In its Barrels division, the group returned to growth, with a turnover up 1.3% to €39.4 million, benefiting from a slightly positive exchange rate effect. Strengthening its position on the market, the group has achieved substantial commercial successes in the wine sector, especially in North America and China.
Despite a fall-off in its "Cognac" business, a stable wine sector activity, and a transfer of orders in the second half, the total turnover was almost stable, thanks to high-margin oenological products sales.
The group maintains its steady growth despite an unpredictable market, and the remainder of the financial year should see a continuation of this trend.
Oeneo will publish its half-yearly results on 29 November before the start of trading.
About the Oeneo group
Oeneo shares (code ISIN FR0000052680 - Ticker SBT) are listed on Compartment C of the Euronext Paris market . With its Oseo-Anvar certification, the group is eligible for inclusion in FCPI closed-end mutual funds invested in innovation-driven companies.
For more information, go to www.oeneo.com
Grégoire Chové + 33 1 44 13 44 39
Guillaume Le Floch + 33 1 72 74 82 25 Analysts - Investors
Caroline Guilhaume + 33 1 53 67 35 79 Media RelationsInformation réglementée
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