Combined General Meeting 2021


  • APPROVAL OF THE FINANCIAL STATEMENTS FOR 2020-2021, WITH A TOTAL NET RESULT OF 93.4 MILLION EUROS
  • A NET DIVIDEND OF 1.60 EURO PER SHARE, UP 60%
  • CONFIRMATION OF OBJECTIVES FOR 2021-2022

The Combined General Meeting of Vilmorin & Cie shareholders was held on Friday, December 10
2021 in Paris, under the chairmanship of Sébastien VIDAL, Chairman and CEO of Vilmorin & Cie.

More than 150 Shareholders thus had the opportunity to deliberate on the resolutions submitted for their approval and to discuss the Company’s strategy and outlook.

APPROVAL OF RESOLUTIONS

All the resolutions put to the vote of the Shareholders were approved, with the exception of the twentieth resolution which proposed that the Board of Directors be empowered to carry out a capital increase reserved for employees. The Board of Directors did not make any recommendation to vote on this resolution, the employees already benefiting from other forms of profit-sharing.

Approval of the 2020-2021 accounts

The Combined General Meeting of Shareholders approved the accounts for the 2020-2021 fiscal year, posting revenue of € 1,476.6 million, up 8% like-for-like, in a context still marked by the global health crisis. Thanks to the growth of all of its activities in most geographic areas, Vilmorin & Cie is posting solid financial performance. Operating income stood at 127.4 million euros and total net income, up 25.9 million euros compared to 2019-2020, stood at 93.4 million euros , the highest net result since 2012-2013.

A dividend of 1.60 euros per share, confirmation of the results distribution policy

The Combined General Meeting of Shareholders set the net dividend at 1.60 euros per share, corresponding to a significantly higher payout rate of 39.7%, compared to 34.6% in 2020. With a sharp increase in the par value by compared to the previous year (+ 60%), the dividend shows Vilmorin & Cie’s desire to pursue its policy of distributing results, given the resilience of its activity demonstrated in the context of the global health crisis.

Dividends will be detached on December 13, 2021, with payment on December 15, 2021.

Appointment of Sébastien BRIFFOND as Director

The Combined General Meeting of Shareholders appointed Sébastien BRIFFOND as Director of Vilmorin & Cie, for a period of three years, i.e. until the end of the General Meeting approving the accounts for the financial year ended on June 30, 2024.

Farmer and Director of Limagrain since 2015, Sébastien BRIFFOND has been Vice-Chairman of Limagrain since December 2020. He holds several mandates within the various activities of the Group and is Chairman of the Garden Products activity of Vilmorin & Cie.

CONFIRMATION OF OBJECTIVES FOR 2021-2022

Vilmorin & Cie has confirmed its revenue and current operating margin targets for the 2021-2022 fiscal year. These objectives correspond to an increase in consolidated sales of at least 4% like-for-like and a current operating margin rate of at least 8.5%, including research investments comparable to those of the Previous exercice.

Finally, Vilmorin & Cie is aiming for a contribution from associated companies – mainly AgReliant (North America. Field Cultures), Seed Co (Africa. Field Cultures) and AGT (Australia. Field Cultures) – of nearly 30 million euros.

It should be noted that at the end of the first quarter of fiscal year 2021-20221, Vilmorin & Cie achieved sales of 258.4 million euros, up 9.7% like-for-like.

During the 2021-2022 financial year, Vilmorin & Cie intends to pursue the dynamic growth of its activities, while continuing to deliver solid financial performance, on a resolutely buoyant seed market, whose strategic role has been highlighted by the health crisis.

  • You can consult a presentation and the detailed results of the votes on the website www.vilmorincie.com

DISCLOSURES AND UPCOMING EVENTS

Monday, December 13, 2021
Detachment of dividends

Wednesday, December 15, 2021
Payment of dividends

Tuesday March 1, 2022(1)
Publication of sales and results for the first half of 2021-2022

Thursday, May 5, 2022(1)
Declaration of sales at the end of the 3e quarter 2021-2022

Monday, August 1, 2022(1)
Disclosure of sales for fiscal year 2021-2022

Wednesday, October 12, 2022(1)
Publication of results for the 2021-2022 financial year

Friday, December 9, 2022
Annual General Meeting of Shareholders

(1) Communication after listing on the Paris Stock Exchange.
Appointment provided for information only and subject to change.

FOR FURTHER INFORMATION

Olivier FALUT
Financial director
[email protected]

Edouard ROCHE
Financial Communication and Investor Relations Manager
[email protected]

Phone: + 33 473 634 485
www.vilmorincie.com

Vilmorin & Co., the 4e largest seed company in the world, develops vegetable seeds and field crops with high added value, help meet global food needs.

A multi-crop seed producer, Vilmorin & Cie markets around 300 new varieties each year to meet the needs of all types of agriculture and allow farmers to produce better and more.

Accompanied by its reference shareholder Limagrain, both an agricultural cooperative owned by French farmers and an international seed group, Vilmorin & Cie’s growth strategy is based on research and international development to sustainably strengthen its market share in resilient global markets.

Faithful, since its origins in 1743, to its vision of sustainable development, Vilmorin & Cie ensures that its achievements fully respect its three founding values: progress, perseverance and cooperation.

GLOSSARY

Comparable data

Data at constant scope are data restated at constant scope and exchange rates. Thus, the data for the previous fiscal year are restated for the average rate for the current fiscal year, and for any other variation in the scope of consolidation, in order to be comparable with the data for the current fiscal year.

Research investment
Research investments correspond to gross research expenses before recording research costs and tax breaks in fixed assets.

Current operating margin
The current operating margin is defined as the accounting operating margin restated for any depreciation and reorganization charges.


1 Cf. Vilmorin & Cie’s press release of November 8, 2021.

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