Limagrain: Net Profit has Topped 100 Million Euros Mark

Chappes / FR. (lgg) From 01 July 2012 to 30 June 2013, Limagrain Group´s operations have seen improvement from the previous fiscal year with sales figures of 1’939 million EUR (plus 8,7 percent). This performance, which is the result of a long-term strategy, confirms the effectiveness of Limagrain´s cooperative governance and allows the Group to have a proactive policy in terms of investment and jobs. During the fiscal year, Limagrain had subsidiaries in 39 countries with almost 8’200 employees.

Net profit stands at 109 million EUR, compared with 88 million EUR on 30 June 2012, a notable increase from the previous fiscal year. Investment in research rises significantly to 188 million EUR compared with 165 million EUR in 2011/2012. This accounts for 13 percent of the professional sales figures and stands at 250 million EUR when professional partnership work is included.

«Our Group is changing its pace», notes Chief Executive Officer Daniel Chéron. «We are preparing for the future by means of a strong internal growth strategy and a targeted external growth strategy. During the fiscal year, new acquisitions and equity investments served to consolidate our presence in North America and in new development regions such as Asia or Africa. Very recently, we also announced a minority shareholding in Seed Co, the leading African seed company which operates in ten different countries. We are also going to strengthen our investments in research and focus on our partnerships in this area».

Chairman Jean-Yves Foucault highlights that: «Limagrain has the distinctive characteristic of being an international cooperative group with strong ties to the Auvergne, France. Our cooperative model is based on balanced decision-making shared between elected farmer directors and salaried officers. This ensures a long-term vision and the successful implementation of our strategy».

Limagrain is an international agricultural cooperative group specialized in field seeds, vegetable seeds, and cereal products. Founded and managed by French farmers, Limagrain is the fourth largest seed company in the world thanks to its holding, Vilmorin + Cie, European leader for functional flours with Limagrain Céréales Ingrédients and leader on industrial bakery-pastry market in France with Jacquet Brossard.