[Press release] VIVESCIA Group's Consolidated Results for the Year Ending 30 June 2024
In a persistently unstable environment marked by sluggish global consumption, VIVESCIA Group exceeded its targets while effectively managing the impact of market volatility and sustained high interest rates.
EBITDA at an all-time high, underpinned by the performance of VIVESCIA Industries
EBITDA up 15% to €224 million
LINK, the Group's CSR Programme strengthened and showing tangible results
2030 Climate Roadmap certified by SBTi in June 2024 ¹
TRANSITIONS’ one-year anniversary: 420 farmers on board
Consolidated turnover for the year ending 30 June 2024 was €4.1 billion. The Group’s operating profit (as measured by EBITDA) reached €224 million, up 15% compared to the previous year and ahead of budget forecasts.
83% of the Group’s EBITDA, totalling €185 million, was generated by VIVESCIA Industries — a strong performance, up 24% compared to the previous financial year. VIVESCIA Industries has advanced its operational efficiency, its innovation plans and its sustainability programmes. The results of its malting, milling and maize processing businesses are in line with the best in their respective industries. The frozen bakery division doubled its EBITDA compared to the previous financial year, in line with its roadmap over the past 18 months.
The Cooperative’s agricultural activities and its subsidiaries in trading, agri-supplies, and transport met their targets and continue to support the competitiveness of farms in the Cooperative’s territories. Thanks to its Ma Coop 2025 plan, the Cooperative gained market share in grain collection (+1%) and continues to develop added-value value chains, digitalisation, innovation, and efficiencies in logistics.
The Group pursued a robust investment plan over the past year, with €116 million going to support growth and continued transformation.
Net debt reached €542 million, which is down compared to the previous year.
"Our Cooperative Group achieved record EBITDA during the financial year ending 30 June 2024. This is very much a collective achievement, built on the contributions of everyone who works for VIVESCIA. Not only is the VIVESCIA Group meeting its financial targets, but we’re also demonstrating a dynamic spirit of innovation and making tangible progress on CSR, especially in our supply chains and on all the themes relating to climate change, soil and biodiversity. The TRANSITIONS programme is an illustration of this, and this year it turned its vision into action.
Resolutely focused on the future, VIVESCIA Industries is ready to write a new chapter in its history, looking towards 2030 to adapt in markets with fierce competition and rapidly changing consumer expectations.
Whether it be today – in the challenging context after the 2024 harvest, which was particularly harsh for the Cooperative’s farmers in our regions and has disrupted the entire grain sector – or in planning for the future, our Group is a collective that stands firmly alongside and in support of regional agriculture and its agricultural entrepreneurs." Christoph Büren, President
Summer Harvest 2024: VIVESCIA Supports Cooperative Farmers
As was the case in the rest of the country, the summer harvest was disappointing – catastrophic even, in some areas of the Cooperative’s territory, both in terms of yields and quality. In response to this challenging context, VIVESCIA made great efforts to help farmers weather the difficulties and prepare for the 2025 harvest with a financial support package that was implemented following the summer.
Tailored cashflow support with adjusted interest rates: €17 million allocated to date.
Cash advances to cover grain stored on-farm: €1.9 million provided to farmer-cooperators.
Support for young farmers with interest-free loans: €495,000 allocated to date.
CLIMATE CHANGE: VIVESCIA Group certified SBTi FLAG² in June 2024
In mid-June, the Science Based Targets initiative (SBTi) officially certified VIVESCIA Group’s 2030 climate change mitigation targets.
VIVESCIA Group has made climate change a key part of its sustainable development strategy (LINK). As such, the Group submitted its greenhouse gas (GHG) emissions reduction targets to the SBTi in February 2023.
The result of work started more than two years ago involving all VIVESCIA’s teams, the Group’s climate roadmap aims to quantify, evaluate, model and implement ways to reduce GHG emissions. It was approved in the autumn of 2022 by the Board and the Executive Committee based on two unifying targets for 2030.
SBTi-certified targets for 2030 – benchmark year 2021
Scope 1 and 2
42%
reduction of GHG emissions generated directly by the company and its activities
Scope 3
29%*
reduction of indirect GHG emissions
*The reduction breaks down as follows:
A 30.3 % reduction of scope 3 emissions including FLAG
(Forest, Land and Agriculture: a new sector-based carbon methodology applied to SBTi since March 2023)
A year after its launch, TRANSITIONS goes from strength to strength.
With 420 farmers now signed up to TRANSITIONS, VIVESCIA and its partners have turned their vision into action. The first large-scale, high-impact programme of its kind in Europe, TRANSITIONS is growing and becoming stronger thanks to the arrival of new partners in November 2024: Puratos, breweries Caulier and Castelain, and Griffith Foods, who are customers of Grands Moulins de Paris, Malteurop, and Kalizéa, respectively.
TRANSITIONS is a collective effort that brings together upstream and downstream plant and grain industries in a programme that is ambitious and innovative in terms of both its agronomic approach and financing model. The aim is, by 2026, to help nearly 1,000 farmers in North-East France transition to regenerative, productive farming methods that promote soil health and biodiversity, to protect the planet and combat climate change.
¹Created following the Paris Agreement, and the product of a collaboration between several institutions around the world, including the UN, the Science-Based Targets Initiative (SBTi) is now the benchmark in terms of companies’ carbon trajectories.
²FLAG: Forest, Land and Agriculture: a new sector-based carbon methodology applied to SBTi since March 2023
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