Trading update Q3 2016: Sustaining profitable growth
Q3 2016 highlights
Total reported revenue growth 9.2% (8.8% YTD)
Own brands autonomous growth 7.4% (9.2% YTD)
Total autonomous revenue growth 3.9% (7.0% YTD) due to accelerated decline of private label business
EBITE margin of 7.3% despite significant increase in A&P. YTD EBITE margin is up 90bps to 8.3%
Integration of Piramide, Ineobio and Mrs Crimbles fully on track
CEO Statement
We have sustained our good growth momentum on own brands in Q3 and YTD growth stands at 9.2%. Autonomous revenue growth for total Wessanen remains at the upper end of our guidance range of 5-7% year to date, despite an accelerated decline of private label business in Q3. YTD EBITE has increased by 22.4% and margin is up 90bps to 8.3%. In the quarter we achieved an EBITE margin of 7.3% despite investing significantly more A&P into our brands. Integration plans of Piramide, Inebio and Mrs Crimbles are being executed as planned.

We are on track to deliver a good 2016 result both in terms of growth and profit as we are further strengthening our brands in a growing market for healthier and more sustainable food.

Guidance FY 2016
Total autonomous revenue growth at the upper end of our long term guidance range of 5-7%
We expect to report:
a higher EBITE in 2016 versus 2015
an increase of the EBITE % of revenue
Net financing costs around €1-2 million
Tax rate of around 30%
Capital expenditures €8-9 million
Depreciation and amortisation €7-8 million

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Wessanen EUR 11,545 -75ct vol. 1.306.232