(Boursier.com) — LDC reacted little this Friday with a title below 140 euros which stagnated, while the cumulative turnover of the group over the first 9 months of the 2023-2024 financial year amounted to 4.553 billion euros, an increase of +7.7% compared to the 2022-2023 financial year (-1.1% in volume). On an identical basis and constant exchange rate, turnover increased by +4.8% to €4.432 billion, associated with volumes sold down by 1.4%.
In an environment marked by persistent tensions on purchasing power, LDC has, in accordance with its commitments, continued to reduce prices in the poultry division in relation to the drop in the price of raw materials and relaunched its promotional efforts.
In the 3rd quarter of 2023-2024, turnover increased by +2.6% to €1.531 billion with volumes up by +0.4% compared to the 3rd quarter of 2022-2023. On an identical basis and constant exchange rate, the change is -0.8% in value for stable volumes…
Confirmation of 2023-2024 objectives
Despite the persistent inflationary context, the group has good visibility for the second half of its financial year. Considering that the end of year celebrations were generally in line with expectations, the poultry group confirms its ambition to exceed 6 billion euros in turnover associated with a current operating profit of more than 350 million euros.
In the medium term, LDC also confirms all the objectives set as part of its strategic plan: reaching the milestone of 7 billion euros in turnover within 5 years. This new dimension must be accompanied by an increase in profitability with a target of nearly 560 ME in Ebitda for the 2026-2027 financial year, an increase of 40% compared to 2021-2022… Portzamparc speaks of ‘a “slightly disappointing” publication, but underlines the confirmation of the guidance, enough to aim for a price of 160 euros while remaining a purchase on the file. At Euroland, following this numerical publication, the purchase recommendation is confirmed with a price target of 182 euros.
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