VIVESCIA group posts steady results despite a significant drop in the 2016 harvest

Press release
Wednesday, 13 December, 2017 - 18:00

Press release - VIVESCIA group posts steady results despite a significant drop in the 2016 harvest

Wednesday 13 December 2017, Châlons-sur-Marne - At its annual information meeting, VIVESCIA cooperative group presented its annual results for the year ending 30 June 2017, and outlined the prospects for its businesses. Despite a 34% fall in grain collected due to the very poor 2016 harvest, which hit French farmers hard, VIVESCIA's results are steady thanks in particular to its food processing activities. The Group has once again proved it has a robust business model and the right strategy. Its financial solidity enables it to effectively support member-farmers and look to the future with confidence.

VIVESCIA group's turnover for the last financial year was €3.4 Bn (- 6%). Consolidated EBITDA reached €199 M (down 9%). This fall is essentially due to the impact of the 2016 harvest on VIVESCIA Agriculture, partly offset by the good results of VIVESCIA Industries, which delivered record EBITDA (€171 M). Despite the decline in VIVESCIA Agriculture's income, the Group's net income attributable to equity holders of the parent is identical to last year, at €21.8 M. The Group's financial structure remains solid and its ratios are very good.

Christoph Büren
President of VIVESCIA

According to VIVESCIA's President, Christoph Büren: "This difficult year for agriculture has illustrated the strength of a vertically integrated group, whose food processing businesses are performing well thanks to the restructuring and development efforts that have been made. We are pursuing our transformation plan, VIV’AVENIR, whose aim is to generate additional income for farmers, and we continue the expansion of our industrial activities on fast-growing food markets. VIVESCIA has proved that its strategy is the right one, and that it will enable us to achieve our value creation objectives, and sustain our growth going forward."

Alain Le Floch
Managing Director of VIVESCIA

VIVESCIA has the financial resources to continue to innovate in its farming and food processing activities, to improve the efficiency of its production facilities in France and abroad, and to quickly take position when opportunities for international expansion present themselves. "The food industry gives you access to the world. The wealth generated on international markets irrigates our land. The wealth that is returned to the Group's roots, nourishes and fortifies them," explains Alain Le Floch.

Press contact:

Fabrice Bourgeois-Armurier
fabrice.bourgeois-armurier@vivescia.com
+ 33 (0)6 80 24 85 62