{"id":5342,"date":"2022-09-22T10:16:46","date_gmt":"2022-09-22T08:16:46","guid":{"rendered":"https:\/\/www.ldc.com\/co\/press-releases\/louis-dreyfus-company-reports2022-half-year-consolidated-financial-results\/"},"modified":"2023-05-15T13:01:01","modified_gmt":"2023-05-15T11:01:01","slug":"louis-dreyfus-company-reports2022-half-year-consolidated-financial-results","status":"publish","type":"press-release","link":"https:\/\/www.ldc.com\/co\/en\/press-releases\/louis-dreyfus-company-reports2022-half-year-consolidated-financial-results\/","title":{"rendered":"Louis Dreyfus Company Reports 2022 Half-Year Consolidated Financial Results"},"content":{"rendered":"\n

Rotterdam, The Netherlands<\/strong>, September 22, 2022 – Louis Dreyfus Company B.V. (LDC) published today its consolidated financial results for the six-month period ended June 30, 2022. The Group relied on its diversified portfolio, global presence and network, and risk management capabilities to secure essential food and feed supply chain continuity against a backdrop of persistent global trade challenges, market uncertainty and supply chain disruptions amplified by the Russia-Ukraine crisis.<\/p>\n\n\n\n

Net sales amounted to US$30.3 billion for the six-month period ended June 30, 2022, while EBITDA reached US$1,170 million for the same period. Net income also increased to US$662 million for the first half of the year.<\/p>\n\n\n\n

\u201cIn the current turmoil impacting global agri-commodities markets, which added to pre-existing drivers of global market uncertainty such as continued port congestion, accelerating climate challenges and concerns over the resurgence of Covid-19, LDC\u2019s mission to bring the right product to the right location, at the right time, was all the more critical,\u201d said Michael Gelchie, LDC\u2019s Chief Executive Officer. \u201cIn this challenging environment, our experienced and committed teams continued to work with business partners worldwide to keep key supply chains moving safely, reliably and responsibly, from farmers to end consumers.\u201d<\/p>\n\n\n\n

Both of LDC\u2019s business segments contributed to the Group\u2019s Segment Operating Results of US$1,375 million in a turbulent market and operating environment, as commercial teams captured origination and sales opportunities, secured purchases and successfully managed risks to meet customer demand in an uncertain and complex global trade environment.<\/p>\n\n\n\n

In addition to delivering strong results and focusing on its important mission for food and agricultural supply chain continuity, in the first half of 2022, LDC continued to invest in core merchandizing operations, expansion and diversification downstream, as well as Group-wide innovation and digitalization, in line with its strategic roadmap. \u201cAmong other developments, the first semester of 2022 saw the opening of LDC\u2019s first R&D center supporting our entry to the plant proteins market, the completion of a new soy liquid lecithin plant consolidating our position in the plant-based ingredients market, and the groundbreaking for Fuling Food Industrial Park in China – a venture with Chinese partners to meet the country\u2019s growing demand for high-quality food and feed products,\u201d said Michael Gelchie.<\/p>\n\n\n\n

The Group also made positive strides in its sustainability and decarbonization journey, among which a successful biofuel trial on LDC\u2019s first carbon neutral, transatlantic juice shipment, a long-term purchase agreement for renewable power in Argentina and, importantly, a commitment to eliminate deforestation and native vegetation conversion for agricultural purposes in our supply chains, by the end of 2025. <\/p>\n\n\n\n

\u201cAs we continue to face up to regional and global challenges and disruptions, and navigate an extremely uncertain context, I want to express my warmest gratitude to our teams around the world, including and most especially in the Black Sea region, for the commitment they have shown, remaining true to our mission despite unprecedented challenges,\u201d said Michael Gelchie.<\/p>\n\n\n\n

Highlights for the six-month period ended June 30, 2022:<\/strong><\/p>\n\n\n\n