Ladies and Gentlemen, Dear Shareholders,
The acquisition of Ajinomoto Animal Nutrition Europe in 2021 marked an important step in the development of our company, which has become a leader in animal nutrition at European level. Thanks to your support and trust, we were able to quickly implement our roadmap incorporating a major investment plan intended to propel the Group into long-term development backed by our portfolio of innovations.
The structuring of the capital around this new industrial tool took place quickly with the success of the capital increase and the arrival of BPI in the capital of METabolic EXplorer. Your trust has enabled us to strengthen METabolic EXplorer’s equity to raise debt with our banking partners. This operation took place just before the radical change in market conditions for animal nutrition and the price of raw materials. This macroeconomic context, at the origin of a scissor effect, weighed on sales volumes and performance for the year, thus forcing us to review the conditions of this financing with our banking partners and our reference shareholder. .