Exploiting our number one positions in bakery supplies and PURAC
Diemen, the Netherlands, 1 March 2006
2005 financial highlights:
- Net sales from continuing operations decreased by 4.2% to € 2.618,0 million, mainly as result of divestments and impacted by 52 weeks in 2005 vs 53 weeks in 2004; organic sales growth was -0.2%;
- Operating result from continuing operations before exceptional items amounted to € 169.1 million, a decrease of 12%. Margins improved gradually throughout the year;
- Total net income amounted to € 423.4 million, positively impacted by total exceptional items mainly as a result of divestments (profit on sale of Sugar Confectionery) negatively impacted by restructuring charges;
- Net debt position reduced by € 610.9 million to € 425.3 million per year-end 2005;
- Execution of restructuring and purchasing elements of the 3S program progressed ahead of plan; € 19 million savings realized in 2005. The restructuring charge taken in 2005 amounted to € 58 million;
- Proposed dividend: € 0.80 per share (2004: € 0.80).