BELGIUM: Ter Beke profits slide despite sales gain
By Katy Askew | 1 March 2013
 |
Ter Beke profits slide |
Belgium-based food group Ter Beke has booked a drop in full-year profits as efficiency efforts and higher sales failed to offset rising input costs.
The company said today (1 March) that full-year EBITDA fell to EUR31.1m (US$40.4m), down 6.3%. Operating profit declined 11.7% to EUR11.1m. Net earnings were down 8.9%, dropping to EUR8.2m.
Ter Beke blamed the decline on higher input costs, highlighting wage, raw materials and energy costs. The company also invested EUR12.1m in restructuring and efficiency drives.
The group emphasised that it was able to push price increases through in the period and added that it stepped up marketing activity to drive volumes of more profitable lines. As a result, sales were up 4.3% to EUR421m.
Expert analysis
Fruit & vegetables in Belgium
Fruit & vegetables in Belgium industry profile provides top-line qualitative and quantitative summary information including: market size (value 2007-11, and forecast to 2016). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the Belgium fruit & vegetables market. Includes market size data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.
Sectors: Chilled foods, Financials, Meat & poultry
Companies: Ter Beke
View next/previous articles
1 Mar 2013 -
1 Mar 2013 -
Currently reading -
BELGIUM: Ter Beke profits slide despite sales gain
Related research
Ter Beke NV in Packaged Food (Belgium)
Ter Beke is a well-established Belgian company in the packaged food market. The company enjoys strong brand recognition and loyalty in Belgium, thanks to the success and popularity of its brands Come a Casa, L’Ardennaise, Daniël Coopman and Pluma. Th...
Chilled Processed Food in Belgium
Chilled processed food benefits from a positive image among Belgian consumers in comparison to frozen processed food and canned/preserved food. Chilled processed food is perceived as healthier, fresher and of better quality in terms of taste and ingr...
Demand for convenience and the busy lifestyles of consumers enabled ready meals to achieve retail volume and current retail value growth in 2012. The reduced frequency of visits to foodservice outlets among consumers due to economic uncertainty also ...
Related articles
BELGIUM: Ter Beke sees uncertainty on horsemeat scandal
Belgian food group Ter Beke has sounded a note of caution on its full-year outlook, as the group is yet to see consumer confidence fully return in the wake of the European horsemeat scandal.
There are currently no comments on this article
Be the first to comment on this article