Fleury Michon is penalized by his lack of visibility

(AOF) – Fleury Michon falls almost 8% to 22.4 euros, penalized by mixed annual results and above all uncertain outlook. In 2021, the agri-food group made a profit of 4 million euros after posting a loss of 30.5 million in the previous year. The agri-food group also reported a current operating margin of 2%, compared to 2.6% in 2020, marked by operating profits reinvested to support the Fleury Michon brand.

Revenue, for its part, posted a 4.1% decline, impacted by GMS activity, whose revenue fell by 4.2% compared to the previous fiscal year, driven by the impact of the March-May 2020 lockdown. Compared to 2019, GMS activity recorded an increase of +3.7% in 2021.

The airline catering and tray delivery markets have continued to suffer the impact of the health crisis since March 2020.

In view of the complex and uncertain environment, Fleury Michon has not yet communicated a quantified outlook for 2022 due to the war in Ukraine and the current episode of bird flu as well as operating resources (gas, electricity, diesel, packaging), will again become very volatile.

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