LDC

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2017 marked yet another year of strong supply and abundant inventories for some commodities, which led to challenging market conditions, worsened by price volatility working against some market fundamentals. In this adverse context, Louis Dreyfus Company reported US$43.0 billion1 in consolidated net sales. We also posted a consolidated income before tax of US$405 million, compared to US$365 million the previous year, including the Metals business, which is in the process of being sold. LDC’s consolidated net income, Group Share, increased to US$317 million, compared to US$305 million at the end of 2016.

In 2017, we transported and processed approximately 81 million tons2 of agri-commodities, up 5%1 compared to 2016.

The Value Chain segment posted improved crushing and logistics margins. Growth in net sales was fueled by significantly increased volumes in Oilseeds and good levels of activity across the Grains, Freight and Rice platforms.

Leveraging local origination capabilities and increased customer focus generated solid profits within the Merchandizing segment. In a context of rising prices for the Cotton and Coffee platforms, both marketed additional volumes, resulting in a strong contribution to sales.

Our diversified product range, extensive geographical reach, integrated value chain, best-in-class risk management, merchandising expertise and long-standing commercial relationships all ensure that Louis Dreyfus Company is in a strong position to perform consistently amidst changing markets.

Net sales in 2017

US$43.0 billion2

2016: US$40.6 billion2

Volumes

81 million tons2

81 million tons2 shipped to destination, up 5%2 compared to 2016

Segment Operating Results

US$1,057 million2

2016: US$1,037 million2

Gross Margin and Share of income in associates and joint ventures

Net income Group share

US$317 million

2016: US$305 million

Equity Group share

US$5,127 million

2016: US$5,115 million

Fixed assets

Close to US$4 billion2

Intangible assets and property, plant & equipment.

Capex

US$271 million2

2016: US$350 million2

1 Excluding net sales of US$12.4 billion and US$9.2 billion, for 2017 and 2016 respectively, from discontinued Metals operations.
2 Excluding discontinued Metals operations.

© 2018 Louis Dreyfus Company

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