Bonduelle falls on lower FY profit, unappealing outlook

Bonduelle SA

03/10/2022 08:30

** Shares in Bonduelle  BOND.PA  fall over 5% after the
French plant-based food maker posted lower FY profits, citing
the COVID-19 crisis, unfavourable weather conditions, rising
inflation, and supply chain issues  urn:newsml:reuters.com:*:nL8N3116HC
    ** The group's FY operating profit came in at 96.6 mln euros
($94.9 mln), excluding IFRS, compared with 100.4 mln a year
earlier
    ** Oddo BHF analyst Fatma Agnes Hamdani notes the group's
net profit, down 38% YoY at 35.4 mln euros, is "well below
expectations"
    ** For 2023, Bonduelle targets a revenue growth of 8-11% and
a stable current operating margin at 2.5%
    ** "The outlook is not really appealing but we do not
exclude a new disappointment regarding the context," Midcap
Partners analyst Florent Thy-Tine says
    ** Including Monday's fall, ​the stock has dropped nearly
50% YTD, and is trading at its lowest level in 21 years
($1 = 1.0180 euros)
 (Reporting by Dagmarah Mackos)
 ((dagmarah.mackos@thomsonreutrs.com))