Chappes / FR. (lgg) Limagrain Group has just completed its 2011/2012 fiscal year and can announce a sharp rise in its sales. Within a difficult economic climate, the international agricultural co-operative Group demonstrates once again the relevance of its strategy of consolidating its agricultural base in the Auvergne region while successfully expanding in major agricultural areas around the world.
Consolidated sales totalled 1’784 million EUR, compared with 1’555 million EUR in 2011, therefore an increase of nearly 15 percent. Net profit totalled 88 million EUR, compared with 92 million EUR during the previous fiscal year, but the latter included a windfall profit of 30 million EUR as a result of the sale of equity securities in China. Investment in research rose significantly to 165 million EUR compared with 157 million EUR, therefore 13 percent of «professional» sales. As of 30 June last, the Group has subsidiaries in 39 countries with almost 7’800 permanent employees.
Divisions | Sales | Percent of Group Sales | Change 2012/2011 |
Field Seeds | 724 million EUR | 41 percent | +19 percent |
Vegetable Seeds and Garden Products | 608 million EUR | 34 percent | +03 percent |
Cereal Products | 351 million EUR | 19 percent | +35 percent |
The Co-operative, the base on which the Group has been constructed, has continued to consolidate its seed and agro-industrial production by increasing its activities significantly, both in corn and in wheat, key crops in its integrated chain strategy.
Jean-Yves Foucault, the Chairman of Limagrain, explained: «The balance between the local activities of our Co-operative and our international business is important. This balance contributes to the Group´s dynamic vision of development both in Auvergne and in France. Moreover our Group has just built three new biotechnology laboratories in France, a clear sign of its determination to reinforce its scientific expertise in France, increasing the global number of jobs in our country. Today we have nearly 3’800 employees in France, an increase of almost 25 percent in five years».
Daniel Chéron, CEO for Limagrain, comments: «In the current difficult economic context, Limagrain has stayed on course and the increase of around 15 percent in our sales demonstrates this. Incorporating Brossard into the Bakery Products´ Division has been a great success. The Group is continuing with its international development through sites in new areas, in particular in Brazil with projects involving seeds as well as grain products and in India with the acquisition of Bisco for field seeds and Century, a specialist in vegetable seeds».
OTHER TOPICS FROM THIS SECTION FOR YOU:
- Döhler announces strategic partnership with Nukoko
- Starbucks: Expands Global Effort to Protect Future of Coffee
- Grain + Co.: Satellites help Paulig to grow tasty food
- Paulig: announces partnership for more sustainable wheat
- Cargill: 50% of the SK canola processing plant is complete
- Nigeria: Flour Mills and Bühler open center for local grains
- CHS and Grand Farm collaborate to answer important questions
- Lantmännen: announces large-scale fossil-free food production
- Bunge Global SA: sells its stake in JV in Brazil to BP
- Lantmännen Cerealia: Climate targets now SBTi validated
- Puratos: opens new «Sourdough Institute» in Belgium
- Sweet proteins: Grupo Bimbo uses Oobli’s sugar alternative
- Brenntag: wins »Best Ingredient Innovation Award«
- Paulig Group: invests in agtech startup OlsAro
- Bunge Chevron: to Build New Oilseed Processing Plant
- Bunge Limited: Unveils Cocoa Butter Equivalent
- Sucro: Plans New Cane Sugar Refinery in Chicago
- Paulig aims to reduce climate impact of its wheat by 35%
- Cargill: the first global edible oil producer to meet WHO standard
- Chipotle: Invests In Agricultural Robots And Climate-Smart Fertilizer