Agrial’s 2023 financial statements were definitively approved by the Co-operative’s farmer members at its annual General assembly on 31 May. Despite an unprecedented drop in food volumes in France, Agrial’s business was generally on target in 2023, with sales up to 7.4 billion euros (+3.7% vs. 2022), boosted by inflation. The company’s performance is also holding up well, with EBITDA of €239 million, enabling it to pay out more than €16 million in returns to its 12,500 farmer members in 2023.
Beyond the global context, the main highlight of 2023 remains the election of Bernard Guillard as Chairman of Agrial, succeeding Arnaud Degoulet, Chairman of the Co-operative from 2012 to September 2023 (see PR of 29/09/2023). The merger with the Natura’Pro co-operative, effective since the 2023 General assembly (see Agricultural division page), anchors Agrial’s development in the Rhône-Alpes French region and represents more than 800 new farmer members and 25 additional local stores for Agrial.
Upstream, the Agricultural division had a satisfactory year, after 2022 was exceptional in every respect. Cereal collection (summer and autumn) reached a record level of 1.8 million tonnes, and agricultural supply activities, in both crop production and animal nutrition, were also buoyant. The Rural distribution department, for its part, has stabilised after 3 years of strong growth, which is a notable achievement in a market in decline.
The Dairy division also had a good year, in line with 2022, but in a very different context from the previous year. While 2022 was mainly driven by commodity prices, it was the Ultra-Fresh business that achieved a record year in 2023, supported by equally satisfactory performances from butter and cheeses, both cow’s and goat’s.
The year was more mixed for the Meat division, which suffered from a lack of volumes for its premium butchery and charcuterie products, impacted by inflation and high production costs. On the production side, we note the planned merger with the Evel’Up pork co-operative, announced at SPACE 2023 (see PR of 14/09/2023).
In addition, the reorganisation plan for the Fresh Produce division initiated in 2022 has borne fruit, enabling the division to return to growth in 2023, aided by record sales of 1st range products in France. On the other hand, the Dutch subsidiary (beans, Brussels sprouts, etc.) remains in a more complicated situation.
Finally, while the UK and US operations of the Apple & Beverage division were on target in 2023, the major challenge for 2024 will be to turn around the cider business in France, for which a plan has just been announced and discussed with employee representatives.
