Bonduelle hits near 10-year low after results, activity halt in Ukraine

Bonduelle SA

04/03/2022 08:42

** Shares in Bonduelle  BOND.PA  drop 5.6% after the French
plant-based food company said commercial activity in Ukraine had
been interrupted by the current conflict
    ** The group, which has been present commercially in both
Russia and Ukraine since the 1990s, said it was monitoring the
impact of sanctions imposed on Russia
    ** Bonduelle warned the Ukraine crisis would influence its
FY outlook for stable revenue growth and profit margin outlook,
without estimating the impact at this stage
    * "Let's remember that the Russia zone is the most
profitable zone of the group, according to our estimates,"
Midcap Partners writes in a note
    ** Broker Portzamparc points to Bonduelle's difficulties in
offsetting high cost inflation and the later than expected
recovery in U.S. fresh business' profitability
    ** The company also posted H1 revenue of 1.44 billion euros
($1.59 billion), leading to a current operating income down
17.4% on reported figures to 46.5 million euros
    ** The stock, down by nearly 20%, hits its lowest price in
almost 10 years at 16.7 euros

($1 = 0.9083 euros)

 (Reporting by Juliette Portala; editing by David Evans)
 ((juliette.portala@tr.com))