WhiteWave reports volume growth across all brands

WhiteWave reports volume growth across all brands

- Brands "on trend" to meet demand for natural, nutritious beverages. - Line of Silk PureAlmond "lights" planned.

THE WhiteWave Foods Co. has reported a decrease in earnings for its 2013 first quarter versus its first quarter last year but emphasized that earnings were higher on an adjusted basis.

The company reported increased sales that were driven by growth in volume across all brands.

"Consumers continue to be interested in natural, nutritious and great-tasting products that are produced responsibly," chair and chief executive officer Gregg Engles said.

He added that the company believes it has those products, with "leading, on-trend brands."

The financial results for WhiteWave are shown in the Tables.

For its North American business, which includes plant-based beverages and foods, premium dairy drinks and coffee creamers and drinks, WhiteWave said sales were led by double-digit growth in plant-based and coffee products.

The plant-based platform, which is primarily the line of Silk beverages, continued to benefit from growth in Silk PureAlmond, which experienced a 55% first-quarter increase in sales. The company reported that it is launching a line of Silk PureAlmond "lights" in the second quarter that will contain one-third fewer calories.

The premium dairy platform, which is primarily the portfolio of Horizon Organic milk products, continued to benefit from growth of single-serve and omega-3 products, as well as half-gallon products. WhiteWave noted that Horizon Organic outpaced the organic milk category as a whole by 1%.

The coffee creamer and drinks platform, which includes International Delight and Land O'Lakes coffee creamers and International Delight Iced Coffee, experienced growth in volume across all products, including strong growth in iced coffee. The company said growth continued for its flavored coffee creamers due to increased coffee consumption and the trend toward consumption of flavored, customized coffee.

For its European segment, which includes the Alpro plant-based beverages and foods, WhiteWave said sales were driven by growth in volume, especially for almond, hazelnut and rice beverages and soy yogurt.

WhiteWave was established last year when Dean Foods Co. spun off a minority stake in its WhiteWave division in an initial public offering (Feedstuffs, Oct. 29, 2012). Dean announced earlier this month plans to sell an additional stake in the company on May 23, after which it will hold a 19.9% interest in WhiteWave.

With headquarters in Dallas, Texas, WhiteWave reported 2012 sales that totaled $2.306 billion.

 

1. WhiteWave earnings and sales (million $)*

 

-First quarter-

 

2013

2012

Sales

608.244

552.028

Earnings

23.998

31.308

Earnings per share (cents)

14

21

 

2. WhiteWave operating results (million $)*

 

-First quarter-

 

2013

2012

North America

 

 

Sales

507

463

Income

56

52

Europe

 

 

Sales

101

95

Income

7

4

*For the quarters ended March 31, 2013, and March 31, 2012.

 

Volume:85 Issue:21

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