French agricultural cooperative Agrial said it grew 2015 sales and earnings despite facing a “major agricultural crisis”.
The group said this week that revenue increased 12.8% to EUR4.8bn (US$9.57bn) in 2015. EBITDA increased 27% to EUR202.6m, while net earnings were up 18.3% to EUR52.2m.
Agrial said its earnings were supported by “positive results” for its agricultural branches. In crop production, the cooperative saw “record” corn production thanks to “good weather conditions”. Cattle feed sales were down due to the “dairy crisis” and good availability of fodder throughout the autumn.
In animal production, the company said its performance was “stable” across its cattle and pig businesses. The company has been working to recover profits at its meat business and, as part of this initiative, sold its poultry operations to LDC last year.
Agrial also hailed improvements in the performance of its vegetable unit. The group entered into an agreement to acquire Dutch exporter Jean L’Hourre in a move that expanded its international business. Agrial said that its performance outside of Europe continues to strengthen.