“All of our platforms continue to deliver strong volume growth, which drove robust topline performance for the second quarter,” said Gregg Engles, Chairman and Chief Executive Officer of WhiteWave. “We are pleased with our initial results as a standalone company, and remain focused on continuing to drive topline growth, further optimizing our cost structure and developing innovative products that will change the way the world eats for the better.”
BASIS OF PRESENTATION
Financial results for 2012 are presented on a pro forma adjusted basis and financial results for 2013 are presented on an adjusted basis; however, 2013 financial results for the North America and Europe segments are not adjusted, as all 2013 adjustments relate to Corporate and other items. See reconciliations at the end of this release for further details.
NORTH AMERICA SEGMENTThe Company’s North America segment is comprised of our Plant-based Foods and Beverages, Premium Dairy, and Coffee Creamers and Beverages platforms. In the second quarter of 2013, net sales for the North America segment were $514 million, a 10 percent increase over the second quarter 2012, led by strong double-digit growth in both Plant-Based Foods and Beverages and Coffee Creamers and Beverages. Growth in the North America segment continues to be propelled by strong categories, effective marketing investments, and new product innovations. Operating income for the North America segment increased 9 percent to $50 million for the second quarter of 2013, compared to the same period in 2012.
| North America Segment
Second Quarter Summary