Sales from continued operations in the first half of 2018 were €1,131 million, up 11.0% on the corresponding period in 2017. Organic sales declined by 0.1%, partly as a result of a change in reporting rules. Operating profit from continued operations fell €2 million to €31 million. Net profit from continued operations declined by €1 million to €25 million in the first six months of the year. The Group’s net profit, including discontinued operations, increased by €1 million to €29 million.
Koen Slippens, CEO: “After a difficult start to the year, we closed the first half of the year with two fantastic summer months. We are seeing net growth in our sales markets, even though it doesn’t appear to be as strong we had originally expected. At Foodservice, the first six months of the year were dominated by the acquisition of the Heineken wholesale operations. Our first priority is of course to look after our joint customers and to ensure continuity of operations. In addition, we are working hard on the preparations for the further integration of the activities, due to start later this year. There is a strong belief in the partnership and we are seeing the opportunities for sales and logistical benefits over the next few years confirmed. The preparations for the opening of Sligro-ISPC in Antwerp and the launch of our IT transition, both scheduled for later this year, are fully under way.
At Food Retail, the first half of the year was dominated by the sale of the activities and the preparations for the transfer of activities. This resulted in the completion of the transaction on 2 July 2018 and a smooth transfer of the operation to the buyers. We have great respect for our many EMTÉ colleagues, who have continued to work with great passion and commitment throughout this difficult period.”
Sligro Food Group N.V.’s sales for the first three quarters (39 weeks) of 2018 were €1,722 million, an increase of 11.1% (Q3: 11.4%) compared with the figure of €1,550 million in 2017. Excluding the effect of acquisitions, sales rose 1.0% (Q3: 3.3%).
Sligro Food Group ‘s sales in 2018 amounted to €2,346 million, an increase of 9,6% compared with sales of €2,142 million in 2017. Organic growth was influenced by a number of technical items, as explained below. Adjusted for this, ‘other’ organic growth was 3.1%.
Net profit for the year was €276 million, an all-time record for the Group. 2018 was characterised by numerous extraordinary and non-recurring income and expenditure items. Adjusted for this, Ebit on our ‘continuing operations’ was €82 million, with a 9.5% increase in net sales to €2,346 million.
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.