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.