H1 and Q2 2015 highlights - building strong growth momentum
Overall reported growth for H1 20.7% (Q2:21.1% )
Autonomous revenue growth of 8.4% for H1 (Q2: 7.9%)
Strong autonomous own brands growth of 14.4% in H1 (Q2: 13.3%) and gaining market share
EBITE increases to €19.2 million for H1 (Q2: €6.9 million) even with significant step-up in A&P
Revolving credit facility of €100 million successfully amended and extended

CEO statement
Christophe Barnouin (CEO) commented: "We have made good progress on our strategy to become the leader in healthy & sustainable food in Europe in the first half of the year.

We achieved 14.4% autonomous growth on our own brands in H1 (Q2: 13.3%), significantly outgrowing a strong market and gaining share in the process (e.g. Bjorg in France has recorded its highest ever share). We have significantly increased our marketing investments in H1 and Q2 in order to drive our core brands ahead of market.

The integration of our recent new family member Abafoods is progressing well and the business is continuing to perform strongly. The Isola Bio brand has grown more than 40% year-to-date. The businesses we integrated in the last few years - Clipper and Alter Eco - are also doing well.

Our strategy is working and our focus is on further improving execution. More and more people in Europe are becoming conscious that what they eat has a major impact on their health and on our planet: A food revolution in Europe is starting and we want to play a leading role in it."


Wessanen has successfully amended and extended its €100 million revolving credit facility by three years. Wessanen has successfully amended and extended its €100 million revolving credit facility with ABN Amro and ING.

This facility was scheduled to mature in July 2017. The facility has been extended until July 2020, with an extension option of two additional years.

Key amendments are a release of security rights, improved commercial terms and an increase of the 'accordion facility' by €25 million.

In € million, unless stated otherwise Q2 2015 Q2 2014 (3) H1 2015 H1 2014
(3)
Revenue 131.5 108.6 263.2 218.0
Reported growth 21.1% 20.7%
Autonomous revenue development 1 7.9% 8.4%
EBITDAE 2 9.0 9.7 23.2 20.5
Normalised operating result (EBITE) 6.9 8.2 19.2 17.4
Operating result (EBIT) 6.9 7.6 19.1 16.7
Profit/(loss) after income tax from continuing
operations 3.7 4.2 11.5 9.5
Profit/(loss) from discontinued operations (0.2) 36.8 4.6 36.5
Profit/(loss) for the period 3.5 41.0 16.1 46.0
Net debt/(cash) 0.6 (7.4)

zie meer op
http://hugin.info/143317/R/1940932/701177.pdf
niet alles is over te nemen.

tijd 09.02
De Smallcap 798,51 +2,05 +0,26% de goede cijfers zaten al in de prijs van Wessanen verwerkt nu EUR 8,79 -3ct vol. 7.358

SNS advies Wessanen neutraal wel koersdoel naar EUR 8,50
Maar wanneer moet je dan "kopen"?
06-07-2015 SNS Securities Hold EUR 7,88 koersdoel nu dus hoger.
Toen de prijs van Wessanen EUR 3 was moet je de aandelen niet hebben, pas als de prijs boven de EUR 10 is??
SNS weet het allemaal zeker bij kleine fondsen, daar is mee te sturen met systemen en dan komt "het advies" meestal uit.