VILMORIN: forecasts prudences | Stock Exchange area

Vilmorin has published a net income of 73.9 million euros for its 2018/2019 financial year closed at the end of June. Net income reached 77.9 million, up 1.3%. Consolidated operating income amounted to € 111 million, up 14.3%, and resulted in an operating operating margin of 8%, up 0.8 percentage points from the previous year. It notably takes into account non-recurring items, including an added value linked to the reorganization of the biogemma biotechnology research company as well as a profit on the sale of an industrial tool dedicated to the production of maize seeds in Hungary.

The current operating margin stands at 8.4%, a significant increase compared to the previous year (+ 1.2 points), as indicated in August.

Consolidated revenue, corresponding to ordinary business income, amounted to 1.3907 billion euros, up 3.3% from current figures. Like-for-like (foreign exchange, activity premium), it was up 4.5% year-on-year.

The group will pay a stable dividend of 1.35 euro per share.

For the 2019-2020 financial year, Vilmorin sets the objective of achieving a growth in consolidated sales of 2% 3% like-for-like.

In addition, the group aims to achieve a current operating margin rate of at least 8%. This will take into account a research effort that should be more than 255 million euros, destined for both the growth of vegetable seeds and seeds of field crops.

Lastly, Vilmorin is aiming for a contribution of at least 20 million euros from AgReliant (North America, large-scale crops), Seed Co (Africa, large-scale crops) and AGT (Australia).