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WhiteWave Foods Reports Strong Second Quarter 2013 Results

Stocks in this article: WWAV

Premium Dairy

In Premium Dairy, which includes Horizon Organic ® branded dairy products, volume growth drove net sales to increase 6 percent in the second quarter of 2013 compared to the second quarter of 2012. Growth continues to be driven by single-serve and DHA Omega-3 products, as well as increases in core half-gallon offerings. The organic milk category grew by 4 percent during the second quarter, driven by Horizon Organic ®, which outpaced the category growth by 2 percentage points.

Coffee Creamers & Beverages

In Coffee Creamers and Beverages, which includes coffee creamers under the International Delight ® and LAND O LAKES ® brands, as well as International Delight Iced Coffee®, net sales increased 12 percent in the second quarter of 2013 compared to the second quarter of 2012, due in part to strong growth in club stores, foodservice, convenience stores and other away-from-home channels. The refrigerated flavored creamer category grew 8 percent during the second quarter, driven by continued increases in coffee consumption and coffee flavoring trends.

The Company plans to build on its Coffee Creamers and Beverages platform with a new line of Green Mountain Coffee® branded iced latte. This iced coffee is packaged in a unique carafe shaped bottle for the coffee consumer interested in a stronger, great-tasting premium iced coffee option.

EUROPE SEGMENT

The Company‚Äôs Europe segment is comprised of its European Plant-based Foods and Beverages platform, which operates primarily under the Alpro ® name. Net sales in the segment increased 13 percent in the second quarter of 2013 compared to the second quarter of 2012, on both a reported and constant currency basis. Operating income in the segment increased 12 percent to $8 million for the second quarter of 2013, compared to the same period in 2012.

Europe Segment Second Quarter Summary

In millions    

  2013  

   

  2012  

    % Change
Net Sales $ 102 $ 90 +13 %
Operating Income $ 8 $ 7 +12 %
 

Growth in the Europe segment was driven by strong volume growth of products launched in the prior year, including almond and hazelnut beverages, along with continued growth in non-dairy yogurt offerings. Volume growth in the Europe segment continues to be strongest in its core Northern European geographies.

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