LDC posts solid half-year results – 11/23/2022 at 6:31 pm


(AOF) – LDC, which reported its half-year results, generated a gross operating surplus of 240.1 million euros against 198.3 million in the first half of the previous financial year, up 21% . It represents 8.8% of turnover for the period compared to 8.3% for the comparable period. The poulterer, owner of the brands Loué, Le Gaulois but also Marie, recorded current operating profit of 120.9 million euros (4.4% of turnover compared to 4.3% over the same period of the year). Previous exercice).

Net income, Group share rose to €93.9 million from €80.1 million for the comparable period.

LDC achieved a turnover of 2.735 billion euros over the period, up 14.2% (+13.2% at identical scope and constant exchange rate) over one year. The volumes marketed fell by 3.3% and by 4.2% on an identical basis, but price increases favored invoicing.

Despite the context marked by price increases on raw materials, persistent inflation on other costs (energy, packaging, etc.) and the episode of avian influenza, the Group has once again demonstrated its resilience during the semester.

The good resilience of the half-year was driven by the agility and industrial performance of all sites in the poultry division.

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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 VSEs-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 have not been renewed for 2023 and after. Consequently, 25 of the main inter-professional organizations (Intercereals, 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 damper”, which are deemed insufficient. The organizations also deplore the failure of European negotiations to achieve a tariff shield to avoid distortions of competition. Agriculture and agri-food require a maximum ceiling price of €180/MWh, while many companies buy at prices above €500/MWh on the French market.



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