Brief: Vilmorin & Cie Q3 Sales Up At EUR 1,158.4 Million

Vilmorin & Cie SA

04/05/2022 17:45

May 4 (Reuters) - Vilmorin & Cie SA  VILM.PA :
    * OBJECTIVES FOR 2021-2022: VILMORIN & CIE IS MAKING A
SECOND
REVISION OF ITS OBJECTIVES FOR THE END OF FISCAL YEAR
    * CONSOLIDATED SALES AT END OF Q3 2021-2022, CORRESPONDING
TO
REVENUE FROM ORDINARY ACTIVITIES, CAME TO 1,158.4 MILLION EUROS,
UP BY 4.8% WITH CURRENT DATA AND 4.0% ON A LIKE-FOR-LIKE BASIS
    * THERE HAS BEEN AN UNPRECEDENTED INCREASE IN PRICE OF
AGRICULTURAL INPUTS, AS WELL AS RECURRING PROBLEMS OF LABOR
AVAILABILITY AND ACCESS TO WATER
    * BOMBING AND LOGISTICAL PROBLEMS ARE SEVERELY RESTRICTING
CAPACITY OF CUSTOMERS (FARMERS AND GROWERS) TO OPERATE: AS A
RESULT, AGRICULTURAL ACREAGE HAS BEEN SHRINKING, PARTICULARLY IN
CORN AND SUNFLOWER, TO AN EXTENT THAT IS STILL DIFFICULT TO
ASSESS, AND WHICH WILL CERTAINLY NOT BE COMPENSATED FOR IN REST
OF EUROPE
    * SEES FOR FY 2021-2022 CONSOLIDATED SALES ARE EXPECTED TO
GROW BY
APPROXIMATELY 5%* (AS OPPOSED TO AT LEAST 4%* PREVIOUSLY)
COMPARED WITH FISCAL YEAR 2020-2021
    * TO DATE, ACTIVITIES IN RUSSIA HAVE BEEN CONTINUING ALMOST
NORMALLY, DESPITE LOGISTICAL CONSTRAINTS IN DELIVERY OF SEED
ORDERS
    * OBJECTIVE OF CURRENT OPERATING MARGIN RATE, AS ADJUSTED AT
END
OF DECEMBER 2021,IS CONFIRMED: IT STANDS AT 7.5%AT LEAST, AND
INCLUDES RESEARCH INVESTMENT SIMILAR TO THAT OF PREVIOUS FISCAL
YEAR
    * SEES FOR FY 2021-2022 GROWTH CLOSE TO 2% FOR VEGETABLE
SEEDS
DIVISION(AS OPPOSED TO GROWTH CLOSE TO 3%* PREVIOUSLY)
    * SEES FOR FY 2021-2022 GROWTH OF BETWEEN 7 AND 8% FOR FIELD
SEEDS
DIVISION (AS OPPOSED TO GROWTH OF 6%*PREVIOUSLY)
    * HAS REVISED CONTRIBUTION FROM ASSOCIATED COMPANIES -
MAINLY
AGRELIANT (NORTH AMERICA. FIELD SEEDS), SEED CO (AFRICA. FIELD
SEEDS) AND AGT (AUSTRALIA. FIELD SEEDS) - TO NO MORE THAN 20
MILLION EUROS

Source text for Eikon:  urn:newsml:reuters.com:*:nGNE1wChTh
Further company coverage:  VILM.PA 

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