HispanicBusiness

VILLENEUVE D'ASCQ, FRANCE -- (Marketwire) -- 02/28/13 --


BONDUELLE

A French SCA (Partnership Limited by Shares) with a capital of 56,000,000 Euros - Head Offices: La Woestyne 59173 Renescure, France

Business registration number: B 447 250 044 (Dunkerque Registrar of Businesses)

First Half Year 2012/2013 Financial Results
(1st July 2012 - 31st December 2012)

Strong turnover and profitability growth in line with the annual objectives

•Strong reported turnover growth: + 11.3% •Solid brand sales in Europe •Operating profitability up to 14.2% •Strong financial structure post external growth transactions •Satisfactory integration of the 2012 acquisitions

Significant Results

----------------------------------------------------------------------- (in millions of Euros) 1st HY 2012 - 2013 1st HY 2011 - 2012 Variation-----------------------------------------------------------------------Turnover                       979.3              879.7         +11.3%-----------------------------------------------------------------------Operating Result               52.2               45.8          +14.2%-----------------------------------------------------------------------Operating Margin               5.3%               5.2%          +10 bp-----------------------------------------------------------------------Consolidated Net Profit        25.9               18.4          +40.6%-----------------------------------------------------------------------

In the first half year of FY 2012/2013, the reported Bonduelle Group's turnover reached EUR 979.3 million (1st of July 2012 - 31st of December 2012), i.e. an 11.3% increase.

Thanks to a strong dynamic second quarter, the Group resumed an internal growth of + 2.2%. It also benefited from some favorable base effects (+ 2.1%) and from the various acquisitions done over the previous FY (+ 7,- %).

The Group's brand activity very strong resilience, its presence in growth areas with strong profitability coupled with its production and administrative cost efficiency strategy, enable the Group to record a 14.2% operating profitability and a 40.6% net result increases.

In addition, the refinancing operations undertaken in the summer 2012 secured the financing of the Group in an ongoing fragile and volatile economic climate.

Turnover

Activity by Geographic Region

----------------------------------------------------------------------------  Consolidated Revenues     1stHY        1stHY        Current     Exchange    (in EUR millions)      2012-2013    2011-2012    Exchange     Rates and                                                       rate       LFL basis----------------------------------------------------------------------------Europe Zone                  629.9        631.3       - 0.2%       - 0.2%----------------------------------------------------------------------------Non-Europe Zone              349.4        248.4        40.7%        8.-%----------------------------------------------------------------------------Total                        979.3        879.7        11.3%        2.2%----------------------------------------------------------------------------