France's Bonduelle stops Ukraine operations after Russia invasion (updated)

Bonduelle SA

04/03/2022 07:04

(Adds details, CEO quotes)
    March 4 (Reuters) - French plant-based food company
Bonduelle  BOND.PA  said on Friday that commercial activity in
Ukraine had been interrupted by the conflict there but that its
three vegetable processing plants were operating in Russia.
    The group said it was monitoring the impact of sanctions
imposed on Russia after the invasion of Ukraine, in particular
those relating to the supply of raw materials and finished
products. Bonduelle has been present commercially in both
countries since the 1990s. 
    "At the moment, we are doing everything in our power to
ensure the continuity of our business by providing essential
food requirements and pursuing our sowing operations with our
farming partners," Chief Executive Officer Guillaume Debrosse
said.
    Bonduelle, which expects revenue growth and core profit
margin to be stable this year, warned the geopolitical context
resulting from the conflict would influence this scenario,
adding it could not at this stage estimate the impacts.
    "Regarding our operations in Russia, we continue to adapt
our modus operandi in accordance with the measures implemented
by the various authorities involved," Debrosse said in an
earnings statement.
    Revenue in Russia and in peripheral countries represents
around 150 million euros ($165 million) or 5% of the group's
revenue, of which less than 10 million euros is from Ukraine,
Bonduelle said.

($1 = 0.9079 euros)

 (Reporting by Juliette Portala, editing by Clarence Fernandez
and Christian Schmollinger)
 ((juliette.portala@tr.com ; +48 587 696 607))