| € million | 2009-2010 | 2010-2011 | Change | Like-for-like change (*) |
| Third quarter Closures |
13.4 |
14.7 |
+10.2% |
+21.3% |
| Barrels | 18.9 | 21.0 | +10.7% | +8.3% |
| Total | 32.3 | 35.7 | +10.5% | +13.3% |
| 9 months Closures |
40.3 |
45.6 |
+13.0% |
+20.9% |
| Barrels | 57.9 | 60.4 | +4.4% | +1.8% |
| Total | 98.2 | 106.0 | + 7.9% | +9.2% |
(*) on comparable consolidation scope (excl. Sibelin Closures) and at constant exchange rates
Oeneo’s growth rate accelerated in the third quarter of 2010-2011 (October-December), generating a turnover of €35.7 million during the quarter, an increase of 13.3% like-for-like. The Group continues to see steady growth in its Closures Division and posted satisfactory quarterly performance in its Barrels activity, especially in the North America region.
The quarterly results have bolstered the group’s hopes of achieving its target of robust growth throughout the accounting period, combined with the improvement of its operating margin.
Closures: Over 350 million Diams closures already shipped this year
With growth of 10.2% (21.3% like-for-like), the Division achieved strong performance over the third quarter, generally a less buoyant period in this business sector. In line with expectations, Oeneo continues to benefit from strong growth in its Diam closure line, with unit sales of 110.7 million during the quarter, an increase of almost 39% relative to the comparable year-earlier period.
The other technological closures such as the Référence and Altop ranges achieved cumulated turnover growth of around 9%.
The second Diam manufacturing facility is operational and the group has now production capacity suited to its growth objective for future years.
Barrels: third-quarter 2010-2011 growth of 10.7%
The group achieved satisfactory performance during a quarter that is traditionally important in activity terms, in North America, China and France. Despite the ongoing economic difficulties, the group is reaping the fruits of its sales efforts and its policy of continuous innovation.
In this respect, the Oakscan process developed by Radoux won the Gold Award for innovation at the Vinitech-Sifel 2010 trade fair. Oakscan is the world’s first application able to provide an accurate, instant analysis, using infrared spectrometry of the extractable tannins contained in each stave prior to manufacturing.
On the strength of its satisfactory activity level in the first nine months, the division has every confidence in its prospects in the current year.
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Contacts:
Oeneo: Hervé Dumesny, +33 (0) 1 44 13 44 39
Actus Finance: Guillaume Le Floch, +33 (0) 1 72 74 82 25
More information at www.actus-finance.com
