(AOF) – For the 2023-2024 financial year, LDC’s turnover amounts to 6.2 billion euros, up 6% compared to the 2022-2023 financial year. Volumes sold increased slightly (+0.3%). On an identical basis and constant exchange rate, turnover increased by 3% to 6.01 billion euros, associated with volumes sold which were generally stable at -0.2%. The turnover of the Poultry France division (with integration of the Upstream division) for the financial year amounts to 4.45 billion euros, an increase of 5.9% and 2.3% on an identical basis.
This increase in sales is notably linked to the contributions of the Matines brand acquired at the end of 2022 and of Ovoteam acquired in April 2023.
Despite an unfavorable context on certain European markets for whole parts (geese), the development of cutting activities and high value-added products (processed products, notably breaded roasts and charcuterie) have enabled a slight growth in volumes across the whole range. financial year (+0.7%) and an increase in turnover of 2.5% to 833.2 million euros.
The turnover of the Catering division amounted to 911.8 million euros, an increase of 10.2%. This growth is explained by the price increases obtained at the end of the previous financial year and at the start of the current financial year. The volumes sold were up 1.1% and benefited in particular from the good resistance of sales of the Marie brand.
LDC confirms its ability to achieve current operating income in excess of 350 million euros.
In the medium term, LDC also confirms all of the objectives set as part of its strategic plan: reaching the milestone of 7 billion euros in turnover for the 2026-2027 financial year. This new dimension must be accompanied by an increase in profitability with a target of nearly 560 million euros in EBITDA for the 2026-2027 financial year, an increase of 40% compared to 2021-2022.
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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.