Rungis, 1 September 2021 – Omer-Decugis & Cie (ISIN: FR0014003T71 – ticker: ALODC), an international group specialising in fresh and exotic fruits and vegetables, is publishing its revenue for the third quarter of its 2020/21 financial year (1 April to 30 June 2021).
|€000 - French GAAP, unaudited||Q3 |
|Ch.||9 months |
|9 months |
|Omer-Decugis & Cie||39,887||43,992||+10.3%||95,440||105,831||+10.9%|
The Omer-Decugis & Cie Group continued its growth during the third quarter of 2020/21 with a revenue of €44.0 million, up 10.3% from Q3 2019/20 driven entirely by organic growth. Both divisions of the Group contributed to the business momentum during the period despite the persisting impact of the Covid-19 pandemic, with restaurants closed until 9 June 2021 and corporate catering still severely curtailed by remote working arrangements.
SIIM activity was up 10.9% growth driven by development of the global offering, especially the climacteric fruit segments (bananas, mangoes and avocados) which benefited directly from the new ripening capacities launched in September 2020.
Bratigny, the wholesale division of the Group, posted 8.7% growth, a solid performance given the severe spring weather conditions (periods of frost) that curbed fruit and vegetable production volumes in France.
For the first nine months of the 2020/21 financial year (October 2020 to June 2021), Omer-Decugis & Cie posted consolidated revenue of €105.8 million, up 10.9% (including 9.4% organic growth, Coicault Thomas having been acquired and consolidated in January 2020).
Omer-Decugis & Cie is confident in its ability to continue growth during the fourth quarter of 2020/21, driven by the ramp-up of new ripening and packaging capacities and the expected impulse of the reopening of corporate catering facilities in France.
Furthermore, the Group has established new short to medium-term growth drivers, primarily by winning a contract for the exclusive distribution of Madagascan lychees representing nearly 8,000 tonnes of lychees in 2021/22 (annual revenue estimated at over €15 million).
Confident in its development, Omer-Decugis & Cie is therefore confirming the growth targets announced during the IPO, aiming at consolidated revenue of €175 million by 2023 followed by consolidated revenue of €230 million and an EBITDA margin of over 5% by 2025.
In addition, the Group announced in July 2021 the launch of the world's first “carbon neutral” pineapple from its plantations in Ecuador to its platform in Rungis, France. This key breakthrough vindicates the merits and maturity of the Group's CSR approach and its response to current issues and consumer expectations, thereby giving it a strategic competitive advantage (carbon neutrality, sustainable packaging, etc.) for conquering new markets.
Next release: FY 2020/21 revenue, 26 October 2021 (after close of trading)
Read more: www.omerdecugis.com
About Omer-Decugis & Cie
Founded in 1850, Omer-Decugis & Cie is a family group which specialises in fresh fruit and vegetables, particularly exotic ones, for European consumers. The Group covers the entire value chain from production to imports and has specific expertise in ripening. The Group markets fruit sourced mainly from Latin America, Africa and Europe through all distribution networks (supermarkets and superstores, out-of-home foodservice, specialised distribution and fresh cuts). Committed to sustainable agriculture that is respectful of regions and people, the Group obtained an “Exemplary” ESG EthiFinance rating of 81/100. Established in the Rungis market, Omer-Decugis & Cie posted revenue of €120 million at 30 September 2020, representing over 100,000 tonnes of fresh fruits and vegetables distributed.