(AOF) – LDC revealed solid results for the first half of 2023-2024 ending at the end of August 2023. Its Ebitda stood at 290.7 million euros compared to 240.1 million euros a year ago for the same period, an increase of 21%. Its operating profit for this half-year stood at 193.4 million euros compared to 120.9 million euros in the first half of 2022/2023. It represents 6.4% of turnover compared to 4.4% in the first half of the previous financial year. Over this period, its net profit, group share, amounted to 153.2 million euros compared to 93.9 million a year earlier.
Already published, sales of the poultry and caterer specialist amounted to 3.02 billion euros in this first half compared to 2.73 billion euros a year earlier.
On the outlook side, for the 2023/2024 financial year, LDC is revising upwards its initial target for current operating profit, now expected to exceed 350 million euros compared to the 300 million euros achieved for the 2022/2023 financial year.
The group confirms that 2023/2024 turnover should exceed 6 billion euros, in accordance with the set objective.
Beyond the current financial year, LDC confirms all of the objectives set as part of its 5-year strategic plan: reaching the milestone of 7 billion euros in turnover for the 2026-2027 financial year . The EBITDA target set at nearly 560 million euros of EBITDA for the 2026-2027 financial year is also confirmed.
AOF – LEARN MORE
Learn more about the Agri-food sector
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.