FAQ / glossary
Vegetables, pulses, fruit and aromatics, we are convinced that this plant-based range is key to the well-being of customers of all restaurants, everywhere, and at all ages. For chefs who cook for school canteens, we have been offering a complete range of services for 50 years: carefully selected, prepared and affordable products; advice from our culinary advisors; and our Greenology offer that supports them in new trends, nutritional habits and recipes. Learn more about Greenology.
Visa Santé is our nutritional program: a permanent progress-focused approach based on the assessment and optimization of our food products. Find out more about our nutritional policy
There are no preservatives in our canned vegetables. The vegetables are first of all blanched to stop them transforming, then put in hermetically sealed boxes and cooked following a sterilization process that destroys all kinds of germs. Furthermore, canned vegetables do not need any preservatives, as stated in the current regulations.
Both in our Prepared and snacking range, the consumer is not able to adjust the seasoning. Adding salt helps these products maintain their full flavors, as refrigeration tends to limit taste. Regarding our canned and frozen food, salt is only added for organoleptic purposes, just like “home-cooked” vegetables.
More generally, our position regarding this issue is clear: faced with the public health issue of salt content in food, Bonduelle has chosen to make it a focus point in its nutritional progress plan.
Firstly, it is important to be reminded that vegetables naturally contain simple sugars: carrots, corn, peas, peppers, onions and beetroot – which is the most naturally sweet vegetable with 6.7g/100g (comparatively, the sweetest fruits are bananas with 15.9g/100g and grapes with 16.1g/100g). Regarding our products, it is important to distinguish:
- Bonduelle products that naturally contain simple sugars: our variety of corn – supersweet corn – gives a sweet crunchy grain which does not require any additional sugar. The quantity of sugar listed on the label does in fact come from the vegetable itself and not from added ingredients.
- Bonduelle products containing added simple sugars: Bonduelle adds sugars in the form of Saccharose to recipes to sweeten a vegetable’s natural bitterness (chicory, Brussels sprouts), an ingredient’s acidity (vinegar, etc.) or in recipes that usually require it (peas/carrots cooked in their own juices). Note that the expression “cooked in their own juices” is regulated and refers to canned foods in which vegetable bouillon and herbs and/or spices were added, along with some sugar. Sugar content in the finished product must be of 50g of glucose per litre of bouillon (see Centre Technique de la Conservation des Produits Agricoles [Technical Centre for Canned Products] good practice guide).
All the studies show it: reducing simple sugar consumption is highly recommended. We therefore naturally included the issue of sugar content in our nutritional progress plan. So, in 2008, within the framework of our Visa Santé project, we implemented maximum added sugar and total sugar thresholds, depending on the product’s Visa Santé classification. We are also currently reformulating our recipes to gradually reduce sugar content.
Example of our freshness sachet aimed at the food service market (2013 data): -45.5% sugar for Peas and Peas/Carrots, -15% sugar for our grated carrot salad and -10% sugar for our sliced carrots.
Then, since 2011 and in accordance with our development charters, glucose-fructose syrup has been banned at Bonduelle when developing new products.
Firstly, it should be reminded that vegetables that are naturally rich in sodium: celeriac (269mg/100g), celery (109mg/100g), spinach (70 mg/100g). Vegetables that are low in sodium (content < 5mg/100g): cucumber, courgette, chicory.
- Regarding Bonduelle products that naturally contain salt: cut&washed salads and basic frozen products do not contain any added salt. The salt quantity indicated on the label comes from the vegetables’ natural sodium content.
- Regarding Bonduelle products that have added salt: “ready-made” products (canned, frozen, prepared) such as tabbouleh, ratatouille, vegetable galettes, cheesy baked dishes, risottos, stir fries, etc.
Since 2008, within the framework of our Visa Santé project, we have implemented maximum salt thresholds, depending on the product’s Visa Santé classification. We have therefore reformulated our recipes, gradually reducing salt levels, without ever compromising on taste. – For Prepared products: 50% decreased in salt content for traditional mustard beetroot and tabbouleh. – For canned food: 5% decrease in salt content per year between 2007 and 2012. – For processed frozen food: 20% decrease in salt content for vegetable galettes, between 13 and 25% decrease in salt content for our cheesy baked dishes.
Our answers on sustainable development
The Bonduelle Group, a family business, was created in 1853 and today is the world leader in ready-to-use vegetables. Its vegetables are grown on more than 73,000 hectares and sold in 100 countries under various brand names.
Nearly 90% of the Group’s vegetable purchases come straight from farming partners, which ensures the full traceability of the vegetables used and, above all, significant control over the Bonduelle Group farming methods. The Bonduelle Group takes on farming partners through its agronomic charter, which sees that environmental and social criteria are integrated into farming and production methods. The goal is to have all the group’s farming partners sign the Charter (partners signed in 2012: 87%).
Other vegetable purchases come under contracts that include requirements in terms of traceability, quality and compliance with ethical, social and environmental commitments.
Bonduelle products do not contain GMOs. We are experts in vegetables, living products. Alongside our seed suppliers, we have developed know-how in varietal selection and hybridization that’s unique in Europe. We select the seeds that we provide to farmers, and today, because of current debate, we have decided to take the precautionary measure of not using genetically-engineered vegetable seeds. As a global vegetable specialist, however, we have a responsibility to stay informed of progress that could improve the nutritional, sensory, and economic qualities of our vegetables. We therefore plan to study the opportunities that biotechnology can offer by committing ourselves in advance to:
- taking into account the strictest security conditions during development
- choosing partners who prove to be responsible and transparent
- keeping you informed of our position, particularly through our product labels.
Bonduelle is committed to maintaining the diversity and equality of its employees. For our Bonduelle Europe Long Life Business Unit (BELL), which has the largest number of employees in France, we are announcing for the 2019/2020 financial year an index of 77 points out of 100. For the French subsidiaries Bonduelle Frais France (BFF) and Bonduelle Traiteur International (BTI), we are announcing an index of 92/100 for the first and an index of 99/100 for the second for the same financial year. The companies BSA and BFT show respectively a score of 75 and 91 points while the subsidiary BPD Champiland show a score of 78 points.
We have relatively few products with animal-based ingredients. Nevertheless, animal welfare is something we feel strongly about.
Like the rest of the agri-food industry, Bonduelle Group does not carry-out laboratory testing on animals.
In Europe, our ready-to-eat fresh salads (sold in France) have been made using free-run poultry reared in humane, environmentally-responsible conditions on a diet free from animal meal or growth hormones. Regarding eggs and egg products — which represent a tiny percentage of the ingredients purchased by Bonduelle in Europe — we are committed to gradually increase our sourcing of alternative eggs. By 2025, all of the eggs and egg products contained in our products would be “cage-free”.
In the United States and Canada, our supplier agreements and Code of Conduct contain a clause stating that we believe in the humane treatment of animals and expects our suppliers to engage in practices that promote the welfare of animals. This includes providing an environment that is free from distress, cruelty, abuse and neglect.
In all areas where it operates, the Bonduelle Group places importance on producing its products close to consumer zones. Today, around 95% of products distributed in France by the Bonduelle Group are produced and grown in France, and around 97% of products that it distributes in Europe are produced and grown in Europe (figures may vary from year to year depending on the harvests which are affected by various factors, such as weather, disease and the presence of pests). However, some products may be grown and even made outside the country of production or consumption for various reasons (choice of varieties, harvesting methods, etc.). In such cases, the Bonduelle Group relies on close and long-lasting partnerships to remain consistent with its policies on long-term priorities, growth, food safety and respect for the environment so as to offer products that meet customer requirements.
For the Bonduelle Group, quality is a key priority. Bonduelle’s quality policy is proof of its commitment to consumers and the sustainability of the group’s activities around the world. It is continuously improved, both internally and with suppliers. This approach is combined with the actions taken by the group to ensure customer and consumer satisfaction, in particular by providing transparent information about its products and by developing the accessibility of vegetables. In addition to quality, Bonduelle’s approach to production is based on pleasure, taste and responsibility (environmental and social).
Bonduelle has almost finished removing palm oil from the products it manufactures and sells (although some essential aromas for certain recipes still rely on palm oil). This approach stems from the “Visa Santé” project (a continuous progress approach based on the evaluation and optimization of food products).
Bonduelle’s approach to reducing the environmental impact of its packaging, which has been in place for several years, focuses on four areas:
- Designing recyclable and/or reusable packaging and products;
- Choosing recycled and environmentally friendly materials;
- Reducing the weight of packaging and products;
- Increasing collection, sorting and recycling.
With “The B! Pact”, Bonduelle has renewed its commitment to the planet.
The group has set a goal to design all single-use plastic packaging and products to be 100% recyclable and/or reusable by 2025. Today, the vast majority (>97%) of the packaging materials used by Bonduelle are designed to be recyclable(1) or reusable(2). The remaining fraction of non-recyclable or reusable packaging materials, which is small in proportional quantity, nevertheless constitutes a very important technical and operational difficulty to become recyclable or reusable.
Bonduelle continues to make progress. The group is gradually abandoning non-recyclable multilayer flexible films, especially for frozen foods. In 2020-2021, Bonduelle also formed a partnership with the Loop returnable package reuse program in France. The Bonduelle products offered by Loop will be packed in reusable, returnable packaging distributed by Carrefour and then collected to be cleaned by Loop and refilled with Bonduelle products.
Bonduelle complies with international labor rules. The group undertakes to respect and promote the seven fundamental conventions of the International Labor Organization concerning the eradication of discrimination in employment, respect for freedom of association, the right to collective bargaining, the abolition of child labor, and the elimination of forced or compulsory labor. It also commits to respecting the European Charter of Fundamental Rights within the organization. As part of its Ethics Charter, published in 2012, Bonduelle requires all of its staff members, suppliers and subcontractors to strictly comply with all legislative provisions relating to their business and professional environment, and encourages its subcontractors and suppliers to adopt ethical practices. Finally, since 2003 the Bonduelle Group has been a member of the United Nations Global Compact initiative, launched in 2000, which encourages companies to adopt fundamental values based on ten principles inspired by the Universal Declaration of Human Rights, the International Labor Organization Declaration on Fundamental Principles and Rights at Work, the Rio Declaration on Environment and Development, and the United Nations Convention against Corruption.
Bonduelle’s economic anchoring in its host regions, with 42 agro-industrial sites, is accompanied by the objective of having 100% of its sites involved in projects for local communities by 2025. 57% of the sites have already reached the target.
Since 2004, the Bonduelle Group has been committed to promoting better nutrition. 220 projects have already been financed in many regions by the Louis Bonduelle Corporate Foundation, which is working to bring about sustainable changes in eating habits that respect people and the planet. And of course we provide several tons of vegetables to charitable organizations every year for redistribution in local communities. The volume reached 5,019 tons in 2020-2021 in Canada, the United States, France, Italy, Poland and Hungary.
Our answers to investors
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The Consolidated financial statements are closed on 30/06 every year.
Sum of net depreciation assets (plus some non-current assets) and working capital. The capital used are the counterpart of the financial assets in the balance sheets.
A negotiable share representing a fraction of a company’s capital, given to shareholders in exchange for a capital contribution. Shares give its owners certain rights: a share of profits as a dividend, votes in general meetings, the right to information, and bonuses during liquidation.
The owner of at least one share in a company.
The full list of a company’s shareholders.
A professional working in a bank or brokerage company, a financial analyst produces research in to listed companies for investors. They analyse the company’s environment, its strategy, accounts, and profit outlook. Based on this information, the analyst creates an estimate of the company’s profits for the next three years.
The shareholder meeting is an annual meeting attended by all shareholders, to approve the accounts and vote on resolutions on the agenda. Decisions are made by majority vote.
The share of its own capital held by a company. Shares that are part of a shark repellent provision do not have the right to vote and receive no dividends.
The organisation responsible for supervising markets. The body has a general competence to protect savings, monitor the compliance of transactions and the quality of information provided by issuers.
A document issued by a broker to their client following a purchase/sale order, which describes the conditions for executing this order.
The Group’s net profit divided by the number of shares that make up its capital.
The sum needed to finance shares and credit granted by the company to its clients (trade debts), minus the credit granted to the company by its suppliers (supplier debts).
The acronym for the warrant for the subscription and/or acquisition of redeemable shares. The warrant gives investors the option, rather than an obligation, to acquire shares. These shares may be distributed to shareholders during a capital transaction, for example, or purchased later on the secondary market.
The value given to the company by the stock market on a given date. It is equal to the share price multiplied by the number of shares that make up the capital.
Capital belonging to shareholders. This includes capital subscriptions, the reserve from profits in prior years, and profits from this financial year (before distribution), as well as the share of profits for the financial year put into reserve (after distribution).
Free cash flow is equal to the EBITDA, along with the variation in provisions for risks and expenses, minus the net financial fees paid and taxes paid, adjusted for:
- Change in working capital required
- net investments
It is an indicator that can be used to manage the use of resources, and therefore monitor changes to debt.
Turnover is the income (excluding tax) generated by a company with third parties as part of their standard, everyday business. It corresponds to the sum of sales of goods, manufactured products, services, and associated activities.
The ISIN (International Securities Identification Number) code is a set of two letters and ten numbers that provides trustworthy identification of an asset’s value and its country of origin.
Dormant partners are associates whose liability is limited to the sum of their contribution. They are different from general partners, who are the only ones able to manage the company.
Financial statements detailing the financial situation of a group of companies as if they were a single entity. For companies listed in Europe, they must comply with IFRS standards.
This sets the market share price at a given time by reconciling supply and demand.
The share price recalculated to take into account operations that changed the amount of capital such as the division of shares or capital increase. The adjustment is used to compare how share prices have changed over time.
Reduction in net profit per share due to the creation of new shares such as when capital is increased, during a merger/acquisition, or a conversion of obligations in to shares.
The share of the company’s net profits distributed to shareholders. For Michelin, a limited stock ownership company, this sum is paid to managers and voted in the General Meeting.
A document containing all legal, financial, and accounting information pertaining to a company for a given financial year. As soon as it is submitted to the FMA, it becomes a public document and can be viewed by anyone at any time.
The right to vote is attached to shares and enables shareholders to adopt a position in the resolutions presented at the General Meeting.
The operating profit is the profits from operations and investments in the financial year. It displays the increased wealth created by the company’s industrial and sales performance. It is different from the GOS (Gross Operating Surplus) that focuses on the operating cycle in that the operating profit also takes the investment process into account through calculated fees (sums for depreciation and provisions). The profits are then divided in to financial fees, corporation tax, dividends, and the reserve profits. The operating profit concept is widely used (especially to calculate financial profitability as it is not affected by a company’s financial structure).
This is an intermediate balance that corresponds to the operating profit before the depreciation deductions of tangible and intangible assets and before any loss of value.
Net borrowing, or the net financial borrowing, is the balance of its borrowing, available credit, and financial investments. It represents the company’s credit or debt standing with regard to third parties outwith the operating cycle. This is the balance used to calculate leverage.
Euronext is a European grouping of stock market companies (i.e. companies that work to manage one or more financial markets) created by grouping together the operational businesses of the Paris, Amsterdam, Brussels and, later, the Lisbon stock exchange and the LIFFEmarket under a single parent company (Euronext NV).
The company capital available for market exchanges. The higher the float the higher share liquidity.
Net borrowing in relation to equity.
The difference between the cost of acquiring a company and the value of its equity at the time it joined the group.
Corporate governance refers to all procedures, regulations, laws, and institutions designed to coordinate how a company is managed, directed, and controlled.
International accounting standards from the IASB (International Accounting Standards Board). Since 1 January 2005, they have been mandatory for all listed companies in Europe (for consolidated financial statements only) in order to facilitate their bookkeeping.
An instrument used to measure the performance of a market or sector’s values, representing the average (simple or weighted) of shares in the representative sample it makes up.
Operating profit in relation to net sales excluding taxes.
A negotiable debt security issued by a company or public body with interest redeemable at a fixed maturation date for a predetermined sum.
A legal document organising the relationships between a company’s different shareholder groups, establishing mechanisms with the primary aim being to provide a strategy and regulate changes to the distribution of capital when shares are transferred.
Liabilities are all of a company’s resources (a resource used for the company). Liabilities are assets with a negative financial value, forming an obligation to a third party in which it is likely or certain that resources will be transferred to this third party without any equivalent expected in return (Article 212.1 of General French Accounting Plan).
The minimum percentage of shares present of represented with the right to vote required so that the General Meeting’s deliberations are valid.
The profit or loss after corporations tax. The Group’s net profit excludes the share of net profit from minority interest.
The net result before financial results, taxes, and the shareholder share of profits are taken in to account.
Financial results describe the impact that the mode of funding has on profits. From a financial standpoint, only the product and fees directly related to company debt and investment are used by reclassifying other items as operations or one-off actions. As most companies are not financial businesses, in most cases we talk about the net financial charges of a product.
Operating profit after tax (calculated directly on these profits) in relation to average financial asset. This ratio measures the profitability of shareholder invested capital and loans from banks and other financial partners. ROCE is different from ROA in that it takes taxes into account.
The initial value of a share set in the company statutes. The company capital is the nominal value multiplied by the number of shares.