(AOF) – Graines Voltz’s turnover for the 2022/2023 financial year stands at 133 million euros, up 0.6% on a current basis compared to the previous financial year. On a like-for-like basis, activity was down 2.4%. In France, the group achieved a turnover of 86.6 million euros, an increase of 1.9%. Its current operating profit stood at 2.4 million euros compared to 6.3 million euros for the previous financial year. Over this period, the group’s net profit stood at 661,000 euros, compared to 5.2 million euros a year ago.
Given the decline in net profit, the board of directors will propose to the General Meeting which will meet on March 22, 2024, to approve the accounts for the 2022/2023 financial year, not to distribute a dividend.
Taking into account the fact that invoicing for the first quarter (October-December) represents only a minor part of the activity (less than 10%), and that many customers are still hesitant to place their order in an uncertain economic context, Graines Voltz remains cautious about its activity forecasts and does not wish to comment on a turnover objective for the coming financial year.
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Soaring energy prices and a call for help
In the past, energy represented a fixed cost of 3% of turnover. This year, this percentage rises to 5% or even 7% for VSE-SMEs, according to Ania (National Association of Food Industries. Professionals are very worried because until the end of 2022 they generally benefit from coverage to cushion these increases However, they are not renewed for 2023 and after. Consequently, 25 of the main inter-professional organizations (Intercéales, Inaporc, Semae, etc.) are calling on the State for help in the face of the erosion of their margins and their capacity to investment.
The State has proposed several devices, including an “electricity shock absorber”, which are considered insufficient. The organizations also deplore the failure of European negotiations to achieve a price shield to avoid distortions of competition. Agriculture and agri-food demand a maximum ceiling price of €180/MWh while many companies buy at prices above €500/MWh on the French market.