Vilmorin & Cie - Annual report 2017-2018

PRESENTATION of Vilmorin & Cie 1 ANNUAL REPORT Vilmorin & Cie 32 2017-2018 The Job Protection Plan affecting about 20 jobs was finalized over the fiscal year with the objective of downsizing in order to deal with a contracting market. Vilmorin & Cie also continued to deploy its action plan to ensure better control over overheads, particularly operating costs. The year was also devoted to the implementation of the reorientation of the marketing strategy, to respond to the decline in the market for seed packets. Vilmorin & Cie is thus diversifying its commercial offer around its flagship brand Vilmorin, while continuing to rely on its historical activity of selling seed packets. Its ambition is to keep up with the evolution of the practices of home gardeners, and become the privileged partner for all gardens and gardeners, whether they are experts or novices. This diversification will continue over the next fiscal year, with the launch of a new range of Vilmorin branded seeds for vegetable plots and the launch of an application and its sensor designed to support the consumer with practical and easy tips for a successful garden. The objective is to recruit new gardeners, including novices. Vilmorin & Cie's offer may also eventually include services dedicated to home gardeners. Finally, Vilmorin & Cie acquired the business of the French company Graines Gondian. The 3 rd largest player on the French market, Graines Gondian produces and markets vegetable and floral seeds as well as amenity grass seeds for home gardeners in all distribution channels. Graines Gondian generated sales of around 7 million euros in 2017. This acquisition, which was finalized at the beginning of fiscal year 2018-2019, will enable Vilmorin & Cie, in addition to its diversification strategy, to significantly consolidate its positions on the market for seed packets for home gardeners. Vilmorin & Cie will build on the strong complementarities and synergies between Vilmorin Jardin and Graines Gondian, particularly in terms of product offerings and customer portfolio. 1.4.3.3. Competitive position No.1 in France for seed packets, Vilmorin & Cie remains one of the European leaders on the seed market for home gardeners. 1.4. Activities