(Boursier.com) — CDL climbed 2% to 101 euros on Thursday, after having generated in the first half of its 2022-2023 financial year a gross operating surplus of 240.1 ME against 198.3 ME in the 1st half of the previous financial year, up by 21%. It represents 8.8% of turnover for the period compared to 8.3% for the comparable period. Current operating profit amounted to 120.9 ME (4.4% of turnover compared to 4.3% over the same period of the previous financial year). The net profit attributable to the Group increased to 93.9 ME against 80.1 ME in the comparable period.
LDC had achieved over the period a turnover of 2,735.5 ME, 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 persistent inflationary context, LDC announces that it has good visibility over the second half of its financial year, integrating all the increases in charges expected over the period. However, the group remains vigilant regarding the health situation, which is currently under control, and the evolution of consumption as the Christmas holidays approach. Given this good visibility, LDC aims to cross the threshold of 5.8 billion euros in turnover associated with a current operating margin rate of at least 4.5%. Achieving these objectives will also be conditional on obtaining essential price increases in the Catering division.
In working order
For the 2023-2024 financial year, the group says it is in working order to cope with the inflation of energy costs and other operating expenses in all its divisions and the entire poultry sector (hatcheries, factories food and breeders). In this perspective, new price increases are already under discussion with all customers at an average of 10% for poultry in France and more than 15% for caterers.
In the medium term, LDC confirms all of the objectives set as part of its strategic plan: to cross the threshold of 7 billion euros in turnover in 5 years. This new dimension must be accompanied by an increase in profitability with a target of nearly €560 million in EBITDA for the 2026-2027 financial year, up 40% compared to 2021-2022.
Portzamparc speaks of a “solid publication in a difficult context (high inflation and impact of the avian flu on volumes). The group is still proving its ‘pricing power’ with the price increases over the half-year”. What to aim for a course of 149 euros while remaining in the purchase on the file…
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