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Divisional reviews
Netherlands
Turnover showed the first growth since 2013,
buoyed by good performance in the hospitality
sector which offset the continued decline in
the institutional segment. Trading profit was
ahead of budget. Institutional business decline
appears to have bottomed out but remained
under pressure, though catering sales moved
higher.
Catering performance was driven by new
contract gains and growing demand from
existing customers.
National account volumes rose as a result of
an uptick in out-of-home eating, with margins
improving as marginal customers were
exited. In the hospitality sector, the business
made continued market share gains while
maintaining margins.
Belgium
The economy slowed down in the second half
and tourism came under pressure following
the terror attacks in March. Horeca sales into
Brussels were hard hit for a time. However,
our teams put in a robust performance and
both revenue and trading profit were ahead
of forecasts while margins were largely
maintained.
Teams sought sales growth with focus on the
development of high-value categories.
Catering showed good growth, supported
by the renewal of a significant contract with
a large catering group. Horeca volumes were
slightly down, though trading profit growth
Reaching over 10 countries across Europe, Bidcorp businesses comprise leading foodservice distributors of
prestigious brands. Supplying premium brands across a wide range of product lines, and a significant presence
of own brand manufacturing and distribution, Bidcorp in Europe is the leading foodservice distributor to the
Horeca sector. Bidcorp has a world-class service offering and a diverse product range that meets the needs
of its vast customer base. Its innovations in product and menu development, allows Bidcorp to live up to its
reputation of delivering smart solutions from a responsive foodservice partner, thereby creating opportunities
to add value for both customer and supplier.
was achieved. Good growth was seen in the
institutional channel and within the logistics
business.
Further tender gains in the new year for the
institutional team bode well for the business
going forward.
Bidcorp Europe
Czech Republic and Slovakia
The Czech Republic’s economy returned
to growth and our industry benefited from
a growing influx of holiday visitors. Our
operations maximised these opportunities and
we achieved excellent revenue and trading
profit growth.
Sales teams performed strongly and results
were lifted by a good ice cream season. The
past summer has been one of the hottest in
10 years and high ice cream volumes were
helpful in margin management.
The Czech division achieved a sales
rise of 11,5%, with strong contributions
from Foodservice and Retail. The export
department achieved a 30% sales rise. Overall
costs were well, other than wages which are
under pressure as improved economic activity
increased demand for warehousing and
distribution staff.
Slovakia’s sales were up by more than 21%,
with both Foodservice and Retail strong
contributors.
Meat production from the Kralupy operation
contributed to the strong overall result while
trading profit from Opava production (ice
cream, frozen vegetable, ready meals and
potato products) was maintained.
Newly acquired MPD (providing cold storage
capacity in Plzen) also made a positive start
and met expectations.
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| Bidcorp Limited Annual integrated report 2016