Sligro Food Group N.V.’s sales for the first quarter of 2019 (13 weeks) were €528 million, an increase of €3 million or 0.5% compared with the figure of €525 million for the same period in 2018.
Sligro Food Group N.V., Veghel, and VRC Holding B.V., Amsterdam, announce that they expect to reach agreement on the acquisition of the shares in Exploitatiemaatschappij Wheere B.V. by Sligro Food Group Nederland B.V. This will include the activities of Vroegop Ruhe & Co B.V., consisting of food wholesaler De Kweker, Vroegop AGF and freight company L.A.J. Duncker.
Sales in the first half of 2019 were €1,135 million, up 0.4% on the corresponding period in 2018. Operating profit from continuing operations fell €13 million to €18 million. Net profit from continuing operations declined by €12 million to €13 million in the first six months of the year.
Sligro Food Group N.V.'s sales for the first three quarters (39 weeks) of 2019 were €1,740 million, an increase of 1.1% (Q3: 2.3%) compared with €1,722 million for the corresponding period in 2018. Excluding the effect of acquisitions and the impact of IFRS 15, sales declined by 0.4% (Q3: -2.5%)
Net sales of Sligro Food Group N.V. in 2019 amounted to €2,394 million, an increase of 2.1% compared with sales of €2,346 million in 2018. Adjusted for the impact of acquisitions, sales decreased with 0.9%
Net profit for the financial year totalled €34 million. The EBIT from our ‘continuing operations’ came in at €44 million, while net sales were up 2.1% to €2,395 million.
Sligro Food Group N.V.’s sales for the first quarter of 2020 were €533 million, an increase of €5 million or 1.0% compared with the figure of €528 million for the same period in 2019.
We entered into constructive talks with our principal bank and USPP financiers as soon as our sales markets started to be hit hard by the government measures imposed in the Netherlands and Belgium to combat the spread of COVID-19.
The Group’s net sales in the first half of 2020 amounted to €943 million, down 16.9% on the corresponding period in 2019, driven by COVID-19. Accordingly, EBITDA declined by €29 million to €27 million. Our belief in a successful future in Belgium is undiminished, but the impact of COVID-19 means that it will take longer than previously expected to recover to profitability in Belgium. This is why we have recognised a non-cash impairment (in particular, goodwill) of €60 million. Excluding this impairment, the Group’s net profit fell to a loss of €16 million.
Sales fell by 9.5% in the third quarter of 2020 compared with last year. The entire fall was organic. Cumulatively, sales for the first three quarters of 2020 were down by 14.4%. Excluding the additional sales generated in the first half of 2020 from the acquisition of De Kweker (since July 2019), the cumulative organic decline was 16.8%.