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Vilmorin & Cie SA (0HJC.L)

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  • Globe Newswire

    Vilmorin & Cie announces a successful €450 million bond placement

    On March 17, 2021, Vilmorin & Cie successfully priced a €450 million senior bond offering with a 7-year maturity and a 1.375% fixed coupon. This successful transaction was largely oversubscribed among a large European investors base. The net proceeds from this issuance will be used for general corporate purposes, including the refinancing of existing debt, of which the funding of the exercise of a pre-maturity redemption call option on the 2.375% May 2021 bond which current outstanding amount stands at €346.2 million. Through these transactions, Vilmorin & Cie is extending the average maturity of its debt while continuing its strategy of diversified funding sources. After significantly strengthening its financial resources over the last years, Vilmorin & Cie is thus pursuing optimization of its financial capacities, supporting the deployment of its objectives for growth, on a resilient world seeds market. The bond will be admitted to trading on the regulated market of Euronext Paris as of 26 March 2021 (ISIN code: FR0014002KP7). This operation was achieved in collaboration with BNP Paribas, Crédit Agricole CIB, Natixis as global-coordinators, together with HSBC, MUFG and Société Générale, who intervened as bookrunners. Vilmorin & Cie has been advised for this transaction by Degroof Petercam Investment Banking. You can consult this press release on the Vilmorin & Cie website www.vilmorincie.com/en COMING DISCLOSURES AND EVENTS Thursday May 6, 2021(1):Disclosure of sales at the end of the 3rd quarter 2020-2021 Monday August 2, 2021(1):Disclosure of sales for fiscal year 2020-2021 Wednesday October 13, 2021(1):Disclosure of results for fiscal year 2020-2021 Friday December 10, 2021:Annual General Meeting of Shareholders Dates provided as an indication only, and liable to be changed. (1) Disclosure after trading on the Paris Stock Market. FOR ANY FURTHER INFORMATION Olivier FALUTChief Financial Officerolivier.falut@vilmorincie.com Valérie MONSÉRATHead of Financial Communication and Investor Relationsvalerie.monserat@vilmorincie.com Tel: + 33 (0)4 73 63 44 85 www.vilmorincie.com Vilmorin & Cie, the 4th largest seed company in the world, develops vegetable and field seeds with high added value, contributing to meeting global food requirements. A multi-crop seed company, every year Vilmorin & Cie brings around 300 new varieties to market to meet the needs of all diverse types of agriculture and allow farmers to produce better and produce more. Accompanied by its reference Shareholder Limagrain, both an agricultural cooperative owned by French farmers and an international seed group, Vilmorin & Cie’s strategy for growth relies on research and international development to durably strengthen its market shares, on resilient world markets.True, since its origins in 1743, to its vision of sustainable development, Vilmorin & Cie ensures its achievements fully respect its three founding values: progress, perseverance and cooperation. Disclaimer This press release is for information purposes only and does not constitute an offer to sell or a solicitation to purchase any securities in any jurisdiction. The distribution of this press release in certain jurisdictions may be restricted by law. Release, publication or distribution of this press release is forbidden in any jurisdiction where such release, publication or distribution would violate applicable laws or regulations. Persons into whose possession this press release comes should inform themselves about and observe any applicable legal and regulatory restrictions. No action has been or will be undertaken to make available any bonds to any retail investor in the European Economic Area or in the United Kingdom. In France, a prospectus will be submitted for approval to the French Autorité des marchés financiers in its capacity as competent authority in France pursuant to Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, as amended (the "Prospectus Regulation") for a listing of the bonds on the regulated market of Euronext Paris. The prospectus will be communicated to qualified investors (investisseurs qualifiés) as defined in, and in accordance with the Prospectus Regulation and Article L. 411-2 of the French Code monétaire et financier. Settlement and delivery remain subject to this approval. This press release is not a prospectus for the purposes of the Prospectus Regulation. This press release is not an offer for sale within the United States of any security of Vilmorin & Cie or any of its affiliates. Securities of Vilmorin & Cie or any of its affiliates may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended, or unless exempt from such registration. Attachment CP_VCO_17_03_2021_GB

  • Globe Newswire

    Vilmorin & CIE ANNOUNCES ITS PLAN TO ISSUE A NEW EURO BOND

    This morning, Vilmorin & Cie announces its plan to issue a 7-year 300 million euros expected-size bond (the “2028 Bonds”). Subject to the pricing of the 2028 Bonds that may occur after a marketing starting today and subject to market conditions, Vilmorin & Cie will use part of the proceeds from the 2028 Bonds to fund the exercise of a pre-maturity redemption call option on its 450 million euros bond due 26 May 2021. This inaugural bond was issued in two tranches on 26 May 2014 and 11 March 2015, with a coupon of 2.375% (ISIN code: FR0011921881) (the "2021 Bonds"). As of 15 March 2021, the outstanding principal amount of the 2021 Bonds stands at 346.2 million euros. The current outstanding amount may be redeemed (in whole) at its principal amount together with interest accrued to, but excluding, the date fixed for redemption, in accordance with its terms and conditions. Those contemplated operations would enable Vilmorin & Cie to prolong the maturity of its debt and pursue the optimization of its financial resources. You can consult the text of this press release on the Vilmorin & Cie website www.vilmorincie.com/en COMING DISCLOSURES AND EVENTS ·Thursday May 6, 2021(1):Disclosure of sales at the end of the 3rd quarter 2020-2021 ·Monday August 2, 2021(1):Disclosure of sales for fiscal year 2020-2021 ·Wednesday October 13, 2021(1):Disclosure of results for fiscal year 2020-2021 ·Friday December 10, 2021:Annual General Meeting of Shareholders Dates provided as an indication only, and liable to be changed. (1) Disclosure after trading on the Paris Stock Market. FOR ANY FURTHER INFORMATION Olivier FALUTChief Financial Officerolivier.falut@vilmorincie.com Valérie MONSÉRATHead of Financial Communication and Investor Relationsvalerie.monserat@vilmorincie.com Tel: + 33 (0)4 73 63 44 85www.vilmorincie.com Vilmorin & Cie, the 4th largest seed company in the world, develops vegetable and field seeds with high added value, contributing to meeting global food requirements. A multi-crop seed company, every year Vilmorin & Cie brings around 300 new varieties to market to meet the needs of all diverse types of agriculture and allow farmers to produce better and produce more. Accompanied by its reference Shareholder Limagrain, both an agricultural cooperative owned by French farmers and an international seed group, Vilmorin & Cie’s strategy for growth relies on research and international development to durably strengthen its market shares on resilient world markets. True, since its origins in 1743, to its vision of sustainable development, Vilmorin & Cie ensures its achievements fully respect its three founding values: progress, perseverance and cooperation. Disclaimer This press release is for information purposes only and does not constitute an offer to sell or a solicitation to purchase any securities in any jurisdiction. The distribution of this press release in certain jurisdictions may be restricted by law. Release, publication or distribution of this press release is forbidden in any jurisdiction where such release, publication or distribution would violate applicable laws or regulations. Persons into whose possession this press release comes should inform themselves about and observe any applicable legal and regulatory restrictions. No action has been or will be undertaken to make available any bonds to any retail investor in the European Economic Area or in the United Kingdom. In France, a prospectus will be submitted for approval to the French Autorité des marchés financiers in its capacity as competent authority in France pursuant to Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, as amended (the "Prospectus Regulation") for a listing of the bonds on the regulated market of Euronext Paris. The prospectus will be communicated to qualified investors (investisseurs qualifiés) as defined in, and in accordance with the Prospectus Regulation and Article L. 411-2 of the French Code monétaire et financier. Settlement and delivery remain subject to this approval. This press release is not a prospectus for the purposes of the Prospectus Regulation. This press release is not an offer for sale within the United States of any security of Vilmorin & Cie or any of its affiliates. Securities of Vilmorin & Cie or any of its affiliates may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended, or unless exempt from such registration. Attachment CP_VCO_15_03_2021_GB

  • Globe Newswire

    SALES AND RESULTS FOR THE 1ST SEMESTER 2020-2021

    STRONG GROWTH IN HALF-YEARLY SALES ON DECEMBER 31, 2020: +14% ON A LIKE-FOR-LIKE BASIS SIGNIFICANT IMPROVEMENT IN HALF-YEARLY RESULTS FOR 2020-2021 UPWARD REVISION OF THE ANNUAL OBJECTIVES FOR 2020-2021 On average, sales for the first semester globally represent around only one third of the annual sales for Vilmorin & Cie. Because of this highly seasonal pattern, the consolidated financial statements for the first semester traditionally show very negative income. In millions of euros2019-20202020-2021Variationwith current dataVariationon a like-for-like basisSales Vegetable SeedsField SeedsGarden Products and Holdings 248.4228.913.5 253.1254.218.4 +1.9%+11.1%+36.5% +7.9%+19.1%+42.4%Sales for the first semester490.8525.7+7.1%+14.0% In millions of euros2019-20202020-2021Variationwith current data EBITDA70.9111.7+40.8 Operating income-46.7-5.5+41.2 Income from associated companies-22.4-12.0+10.4 Financial income-23.0-27.3-4.3 Income taxes+28.7+12.9-15.8 Net incomeof which group share-63.4-61.9-31.9-31.9+31.5+30.0 The consolidated financial statements for the first semester 2020-2021, closed on December 31, 2020, were approved at the Vilmorin & Cie Board meeting of March 3, 2021. The Statutory Auditors have carried out a limited audit of the financial information for the first semester; in their conclusions they have not indicated any reservations or particular remarks. Consolidated financial information is established in compliance with the IFRS referential (International Financial Reporting Standards) as endorsed by the European Union on December 31, 2020.The accounting principles and methods adopted in the condensed interim consolidated financial statements at December 31, 2020 are identical to those used in the annual consolidated financial statements of June 30, 2020. No change in accounting methods or estimates with any impact on Vilmorin & Cie's consolidated financial statements was applied by Vilmorin & Cie over the course of the semester. SALES FOR THE FIRST SEMESTER: VERY DYNAMIC GROWTH BOTH IN VEGETABLE SEEDS AND FIELD SEEDS Vilmorin & Cie's consolidated sales for the first semester 2020-2021, closed on December 31, 2020, came to 525.7 million euros, an increase of 7.1% with current data, and 14% on a like-for-like basis. Vegetable Seeds division: a high quality second quarter Over the second quarter, the Vegetable Seeds division made sales of 148.3 million euros, an increase of 6% with current data and 12.2% on a like-for-like basis. All the Business Units – HM.CLAUSE, Hazera and Vilmorin-Mikado – contributed to this truly fine performance, marked by significant increases in several strategic crops: carrot, tomato, pepper, cauliflower and bean. Following on from the first quarter, most of the geographical zones posted solid progress in business. Growth was particularly dynamic in Europe, in North America, and South America too, where the increase in sales was excellent. Business also increased in Asia, even though there was less growth than in other areas. This high quality quarter has resulted in market share gains in several segments, particularly carrot. It also partly includes anticipated orders, particularly in Europe and North America, due to the health crisis that has led certain grower-customers to fear new restrictions that could affect the delivery of seeds. At the end of the first semester, sales for the Vegetable Seeds division stood at 253.1 million euros, an increase of 1.9%. Restated on a like-for-like basis, it increased by 7.9%. This very good start to the fiscal year now means that the growth target for 2020-2021 can be anticipated to be exceeded. Accordingly, Vilmorin & Cie is now aiming for an increase in sales of between 4% and 5% on a like-for-like basis for this activity for fiscal year 2020-2021, as opposed to at least 3% previously. Field Seeds division: an excellent level of business over the second quarter Over the second quarter, Field Seeds posted sales of 133.7 million euros, an increase of 18.6% with current data and 29.2% on a like-for-like basis. In Europe, Vilmorin & Cie posted a very strong business increase over the second quarter (+24.2% on a like-for-like basis), largely as a result of anticipated sales of corn seed compared to the beginning of the previous year's campaign, which moreover was particularly late. As a direct consequence of the difficulties encountered this year in terms of seed production on the European market due to climatic conditions, farmers were anxious to secure their supplies as soon as possible.Even accounting for these early sales, order books are fuller compared to last year, while corn acreage is expected to drop slightly. As for order books for the sunflower seed campaign, they are looking promising, particularly in Russia, in a context of an expected increase in the acreage devoted to this crop. Furthermore, Vilmorin & Cie again recorded an excellent rapeseed campaign this year. Despite the significant drop in acreages devoted to this crop, the increase in sales was remarkable. Vilmorin & Cie, which has thus gained significant market shares, is now clearly positioned as the European leader for this crop.The first part of the campaign for straw cereal seeds (wheat, barley) posted a drop in sales, while sales of forage seeds, which complement the commercial line-up in Europe, increased. In South America, sales had grown very fast by the end of December, both in Brazil and Argentina. In Brazil, sales of corn seed recorded strong growth: after a quality first corn campaign (safra), the second campaign (safrinha) is also looking very promising on agricultural markets that remain dynamic and marked by the context of an increase in cultivated acreage. Sales of soybean seeds remain stable compared with last year: the increase in prices, in favorable market conditions, offsets the decline in marketed volumes, which had risen significantly last year.Finally, in Argentina, Vilmorin & Cie achieved a very good corn campaign, with strong growth in sales volumes, in line with the first quarter, reflecting gains in market share. In other development regions, business was up sharply in South Africa, reflecting the recent development operations of Vilmorin & Cie in the country, with the creation of the joint venture Limagrain Zaad South Africa1. This performance is also underpinned by favorable sowing conditions, after several years impacted by drought. In Asia, sales were down, due to lower sales in India on a high benchmark basis, and despite significant growth in business in South-East Asia. Consequently, sales for the Field Seeds division for the first semester came to 254.2 million euros, an increase of 11.1% with current data and 19.1% on a like-for-like basis compared with the first semester for 2019-2020. On these bases, and bearing in mind particularly dynamic business over the first semester, even though significantly due to anticipated sales in Europe, Vilmorin & Cie is readjusting its objective for the increase in its Field Seeds sales for fiscal year 2020-2021, and is now aiming for growth of between 5% and 6% on a like-for-like basis compared with the previous fiscal year, as opposed to at least 3% previously targeted. Moreover, with regard to associated companies: On the North American market, the start of the commercial corn and soybean seed season is slightly up on a like-for-like basis compared to December 31, 2019. The outlook for the 2021 commercial campaign is well on track, despite the current decline in orders for corn, in a context of expected near stability in corn acreage.On the African market, Seed Co posted robust sales growth on all its markets2. SIGNIFICANT IMPROVEMENT IN RESULTS FOR THE FIRST SEMESTER, DIRECTLY RELATED TO THE INCREASE IN BUSINESS AND CONTROL OVER OPERATING CHARGES After taking into account the cost of destruction and impairment of inventory, margin on the cost of sales came to 279.9 million euros and represents 53.2% of total sales, an increase of 1.2 percentage points compared to the first semester for the previous fiscal year; over the semester it mainly benefitted from the increase in margins for Vegetable Seeds and the Garden Products business. Net operating charges came to 285.4 million euros, a significant drop of 16.6 million euros with current data compared to the first semester of fiscal year 2019-2020, in the context of the continuing health crisis (travelling expenses, commercial events, etc.), but which had not affected the first semester of the previous fiscal year. Consequently, the operating income for the first semester shows a loss limited to 5.5 million euros on December 31, 2020, a strong improvement of 41.2 million euros compared to the loss of the first semester 2019-2020; the operating margin, traditionally negative at the end of the first semester, came to -1.0%, as opposed to -9.5% on December 31, 2019. The income contribution from associated companies, including in particular AgReliant (North America. Field Seeds) and Seed Co (Africa. Field Seeds), stood at -12.0 million euros at the end of the first semester for 2020-2021, as opposed to -22.4 million euros for the first semester of the previous fiscal year, including in particular a profit of 6.4 million euros for the share of income from Seed Co Limited (Zimbabwe), favorably impacted by restatements for hyperinflation. 1 Cf. Vilmorin & Cie press release published on August 3, 2020. 2 At the end of the first semester (on September 30, 2020). Seed Co's financial disclosures are available on the website: www.seedcogroup.com. The financial income shows a net charge of 27.3 million euros as opposed to 23 million euros on December 31, 2019. In particular this year, it posted an improvement in the cost of funding of 4.2 million euros, specifically as a result of the redemption of certain debts and the impacts of the health crisis on interest rates and currency rates in certain countries. It also includes an erosion of 8.5 million euros in other financial income and charges compared to the previous fiscal year, mainly as a result of a deterioration in foreign exchange transactions and positions. On December 31, 2020 a net tax income of 12.9 million euros was recorded, down by 15.8 million euros compared to last year, in line with the evolution of the income. As a result of these factors, the net result for the semester shows a loss of 31.9 million euros, attributable in total to the group share, and representing an improvement of 31.5 million euros compared with the first semester of fiscal year 2019-2020. At the end of December 2020, the balance sheet structure is naturally very much influenced by the seasonal nature of the annual business cycle. Net of cash and cash equivalents (227.8 million euros), financial indebtedness came to 1,196.7 million euros, including a non-current share of 843.2 million euros. The group share of equity stood at 1,090.3 million euros and minority interests at 27 million euros. NEWS: Governance: Géraldine BÖRTLEIN becomes a Member of the Board of Vilmorin & Cie On March 3, 2021, Vilmorin & Cie's Board of Directors co-opted Géraldine BÖRTLEIN as Independent Board Member to replace Claude RAYNAUD1, who informed the Board of his desire to resign from his mandate as Board Member of Vilmorin & Cie. Géraldine BÖRTLEIN graduated from Centrale Paris, with a specialization in bioengineering, and a PhD in biochemistry-pharmacology. She co-founded Alcimed, a consultancy in innovation and development of new markets, in 1993. Since then she has co-managed the company, and can therefore boast almost 30 years' experience in sectors of high technology. She is also Vice Chairman of the Association for Consultancy in Innovation. Vilmorin & Cie and Sofiprotéol consolidate their strategic partnership devoted to Field Seeds activities in Europe Vilmorin & Cie announces the strengthening of the equity capital of its Business Unit Limagrain Europe, with the support of Sofiprotéol, a financing and development company, a subsidiary of the Avril group, committed to companies in the agro-industrial and agri-food world. Sofiprotéol, a historical minority shareholder of Limagrain Europe, has indeed increased its stake in the capital of Limagrain Europe SAS by 25 million euros. This investment has been concluded through the sale by Vilmorin & Cie of existing shares, and the issue by Limagrain Europe of bonds redeemable as shares. Through this long-term commitment, Vilmorin & Cie and Sofiprotéol are consolidating their strategic partnership, with the common objective of accelerating the development of Limagrain Europe, notably through continued investment in research, while sustainably strengthening its solid competitive positions on the continent. 1 For the remaining duration of Claude RAYNAUD's term of office, expiring at the close of the Annual General Meeting of Shareholders called to approve the financial statements for the fiscal year ending June 30, 2021. Claude RAYNAUD had been a Board Member of Vilmorin & Cie since 2018. This operation comes at a time when an initial restructuring of the capital of Limagrain Europe SAS was finalized at the end of fiscal year 2019-2020. At the time, Vilmorin & Cie strengthened its stake in Limagrain Europe SAS, by acquiring the minority interests previously held by Verneuil Agro Financement, a holding company controlled by French cooperatives. It should be recalled that Limagrain Europe is the Business Unit that combines all the Field Seeds activities of Vilmorin & Cie in Europe. As a major player on this market, Limagrain Europe offers farmers a wide portfolio of crops, and benefits from leading competitive positions on its main species (corn, straw cereals, sunflower and rapeseed). OUTLOOK FOR 2020-2021: UPWARD REVISION OF THE TARGETS FOR BUSINESS GROWTH AND THE CURRENT OPERATING MARGIN RATE At the end of a first semester 2020-2021 of excellent quality, Vilmorin & Cie continues to achieve its strategic objectives: in Vegetable Seeds, Vilmorin & Cie is consolidating its world leadership, thanks to a very high-level commercial performance in most geographic zones and strategic crops,in Field Seeds, Vilmorin & Cie achieved progress perfectly in line with its ambitions in South America, and has concluded a good first part of the fiscal year in Europe, in particular by reaching the top European spot in rapeseed,finally, the Garden Products activity confirmed its excellent trend, thanks in particular to the dynamism of the Vilmorin brand, at the end of the first part of the fiscal year, which nevertheless remained atypical given the changes in consumer habits related to the health crisis. Nevertheless, the first semester was also marked by a partial lack of visibility and uncertainties related to the health context, leading to anticipated sales and orders in both the Vegetable and Field Seeds activities. In addition, the first semester includes currency impacts which are expected to continue in the second half of the fiscal year. In this context, in light of the results for the first semester, as presented above, and on the basis of the information currently available, Vilmorin & Cie is raising its objectives in terms of sales and the current operating margin for fiscal year 2020-2021. These objectives now correspond to an increase in consolidated sales of between 4% and 6% on a like-for-like basis, and a current operating margin rate of at least 8%, including research investment which should be higher than 260 million euros. Finally, Vilmorin & Cie is aiming for a contribution from associated companies – mainly AgReliant (North America. Field Seeds), Seed Co (Africa. Field Seeds) and AGT (Australia. Field Seeds) of around 22 million euros. Over the second semester, reaching these objectives will partly depend on the ability, over the most important period of the fiscal year, to continue to strengthen its commercial positions, particularly bearing in mind the anticipated sales recorded on December 31, 2020, the final impact of currency translations, and the fact that the second semester of fiscal year 2019-2020, marked by the emergence of the world health crisis, represents an atypical benchmark. You can consult the presentation of sales and results at the end of the first semester 2020-2021 on the home page of the website www.vilmorincie.com COMING DISCLOSURES AND EVENTS Thursday March 11, 2021: Registration with the AMF of the update of the annual report for 2019-2020 Thursday May 6, 2021(1): Disclosure of sales at the end of the 3rd quarter 2020-2021 Monday August 2, 2021(1): Disclosure of sales for fiscal year 2020-2021 Wednesday October 13, 2021(1): Disclosure of results for fiscal year 2020-2021 Friday December 10, 2021: Annual General Meeting of Shareholders Dates provided as an indication only, and liable to be changed. (1) Disclosure after trading on the Paris Stock Market. FOR ANY FURTHER INFORMATION Olivier FALUTChief Financial Officerolivier.falut@vilmorincie.com Valérie MONSÉRATHead of Financial Communication and Investor Relationsvalerie.monserat@vilmorincie.com Tel: + 33 (0)4 73 63 44 85www.vilmorincie.com Vilmorin & Cie, the 4th largest seed company in the world, develops vegetable and field seeds with high added value, contributing to meeting global food requirements. A multi-crop seed company, every year Vilmorin & Cie brings around 300 new varieties to market to meet the needs of all diverse types of agriculture and allow farmers to produce better and produce more. Accompanied by its reference shareholder Limagrain, both an agricultural cooperative owned by French farmers and an international seed group, Vilmorin & Cie’s strategy for growth relies on research and international development to durably strengthen its market shares on resilient world markets. True, since its origins in 1743, to its vision of sustainable development, Vilmorin & Cie ensures its achievements fully respect its three founding values: progress, perseverance and cooperation. APPENDIX 1: SALES FOR THE FIRST SEMESTER 2020-2021 AND EVOLUTION PER QUARTER AND PER DIVISION In millions of euros2019-20202020-2021Variationwith current dataVariationon a like-for-like basisOf which: Impact ofcurrencyImpact of scopeFirst quarter231.9234.4+1.1%+6.7%-12.2-0.2Vegetable Seeds108.6104.8-3.5%+2.2%-6.10.0Field Seeds116.1120.5+3.8%+9.5%-6.00.0Garden Products and Holdings7.39.1+24.9%+28.7%-0.1-0.2Second quarter258.9291.4+12.6%+20.6%-17.1-0.2Vegetable Seeds139.8148.3+6.0%+12.2%-7.70.0Field Seeds112.8133.7+18.6%+29.2%-9.30.0Garden Products and Holdings6.29.4+50.2%+58.9%-0.1-0.2First semester490.8525.7+7.1%+14.0%-29.3-0.4Vegetable Seeds248.4253.1+1.9%+7.9%-13.80.0Field Seeds228.9254.2+11.1%+19.1%-15.30.0Garden Products and Holdings13.518.4+36.5%+42.4%-0.2-0.4 APPENDIX 2: CONSOLIDATED INCOME STATEMENT ON DECEMBER 31, 2020 In millions of euros12.31.2012.31.19■ Revenue from ordinary activities525.7490.8Cost of goods sold- 245.8- 235.5Marketing and sales costs- 89.5- 100.4Research and development costs- 104.7- 107.8Administrative and general costs- 92.3- 97.3Other operating income and charges1.13.5■ Operating income- 5.5- 46.7Profit from associated companies- 12.0- 22.4Interest costs- 12.7- 16.9Other financial income and charges- 14.6- 6.1Income taxes12.928.7■ Profit from continuing operations- 31.9- 63.4■ Profit from discontinued operations--■ Net income for the period- 31.9- 63.4> Attributable to controlling company- 31.9- 61.9> Attributable to non-controlling minority-- 1.5 Earnings from continuing operations per share - attributable to controlling company- 1.39- 2.70Earnings from discontinued operations per share - attributable to controlling company--Earnings for the period per share - attributable to controlling company- 1.39- 2.70 Diluted earnings from continuing operations per share - attributable to controlling company- 1.39- 2.62Diluted earnings from discontinued operations per share - attributable to controlling company--Diluted earnings for the period per share - attributable to controlling company- 1.39- 2.62 APPENDIX 3: DETAILS OF THE GAINS AND LOSSES In millions of euros12.31.2012.31.19Income for the period- 31.9- 63.4Variation in currency translations- 66.7- 7.8Variation in the fair value of assets for sale--Variation in the fair value of financial instruments2.0-Impact of taxes--Items that might be reclassified to profit or loss- 64.7- 7.8Variation in the fair value of financial instruments--Actuarial gains and losses- 2.4- 3.9Impact of taxes0.30.8Items not to be reclassified to profit or loss- 2.1- 3.1Other items in the total gains and losses for the period net of taxes- 66.8- 10.9Total gains and losses for the period- 98.7- 74.3> Of which attributable to controlling company- 98.3- 72.7> Of which attributable to non-controlling minority- 0.4- 1.6 APPENDIX 4:FINANCIAL PROGRESS REPORT Assets In millions of euros12.31.2006.30.20Goodwill422.7434.9Other intangible fixed assets729.8737.7Tangible fixed assets276.5288.9Right-of-use leased assets58.263.2Non-current financial fixed assets30.834.5Equity shares318.2349.9Deferred taxes31.424.9■ Total non-current assets1,867.61,934.0Inventories699.9528.7Trade receivables and other receivables495.0494.1Cash and cash equivalents227.8235.2■ Total current assets1,422.71,258.0Total assets3,290.33,192.0 Liabilities In millions of euros12.31.2006.30.20Share capital349.5349.5Reserves and income740.8865.3■ Equity – controlling company1,090.31,214.8■ Equity – non-controlling minority27.015.0■ Consolidated equity1,117.31,229.8Provisions for employee benefits69.469.1Non-current financial debts843.2600.0Non-current lease obligations42.246.2Deferred income taxes88.193.1■ Total non-current liabilities1,042.9808.4Other provisions20.718.3Accounts payable476.1513.1Deferred income29.329.3Current financial debts585.2572.9Current lease obligations18.820.2■ Total current liabilities1,130.11,153.8Total liabilities3,290.33,192.0 APPENDIX 5: VARIATION IN CONSOLIDATED EQUITY In millions of eurosAttributable to controlling companyAttributable to non-controlling minoritiesTotalCapitalPremiumsIncome and other reservesCurrency translation reservesTotal07.01.19349.5300.6642.0- 58.81,233.387.91,321.2Other items in the global income net of taxes--- 8.1- 37.6- 45.7- 1.4- 47.1Net income--66.2-66.21.367.5Global income for the fiscal year--58.1- 37.620.5- 0.120.4Variation in treasury shares-------Dividends paid out--- 31.0-- 31.0- 1.1- 32.1Variations in scope-------Variation in the capital stock of the parent company-------Variation in the capital stock of the subsidiaries--- 3.9-- 3.90.7- 3.2Variation in minority interest shares--3.4-3.3- 72.3- 69.0Bonds redeemable as shares-------Impact of hyperinflationary currency adjustments--2.3-2.3-2.3Impact of adjustments related to a change in functional currency--- 9.6-- 9.6- 0.1- 9.7Reclassifications--0.3- 0.3---Others--- 0.1-- 0.1-- 0.106.30.20349.5300.6661.4- 96.71,214.815.01,229.8Other items in the global income net of taxes(1)--- 0.1- 66.3- 66.4- 0.4- 66.8Net income--- 31.9-- 31.90.0- 31.9Global income for the fiscal period--- 32.0- 66.3- 98.3- 0.4- 98.7Variation in treasury shares--0.1-0.1-0.1Dividends paid out--- 22.9-- 22.9- 0.2- 23.1Variations in scope-----7.37.3Variation in the capital stock of the parent company-------Variation in the capital stock of the subsidiaries-------Variation in minority interest shares--- 3.11.8- 1.35.44.1Bonds redeemable as shares-------Impact of hyperinflationary currency adjustments--- 1.5- 0.2- 1.7-- 1.7Reclassifications-------Others - 0.4-- 0.4- 0.1- 0.512.31.20349.5300.6601.6- 161.41,090.327.01,117.3 (1) The variation in currency translation reserves includes an impact of - 45.3 million euros due to the evolution of the rate for the US dollar. APPENDIX 6: GLOSSARY Like-for-like data Like-for-like data is data that is restated for constant scope and currency translation. Therefore, financial data for 2019-2020 is restated with the average rate for fiscal year 2020-2021, and any other changes to the scope, in order to be comparable with data for fiscal year 2020-2021. Variations in the consolidated scope come from the disposal of activities run by the Garden Products division in Turkey, finalized at the end of fiscal year 2019-2020. Current dataCurrent data is data expressed at the historical currency exchange rate for the period, and without adjustment for any changes in scope. EBITDA The EBITDA is defined as the operating result to which are added any provisions for depreciation, amortization and impairment. Financial indebtedness Financial indebtedness corresponds to the financial debts less cash and cash equivalents. Research investment Research investment corresponds to gross research expenditure before recording as fixed assets any research costs and research tax relief. Current operating margin The current operating margin is defined as the accounting operating margin restated for any impairment and reorganization costs. Attachment CP_resultats_semestriels_20_21_gb