Louis Dreyfus Company (LDC) has published its half-year report for the first six months of 2023, reporting resilient performance in a context of continued market turbulence.
“While international trade flows progressively adapted to last year’s turbulent environment, some challenges persisted into 2023, a context in which LDC pursued its focus on keeping essential food, feed, fiber and ingredient supply chains moving safely, reliably and responsibly,” says LDC CEO Michael Gelchie.
Net sales reached US$25.8 billion during the first half of 2023, compared to US$30.3 billion over the same time period in 2022.
“Leveraging our expertise, diverse portfolio and global network, we successfully navigated a still uncertain and complex market to deliver resilient performance for the first semester, supported by recent developments and investments in asset improvements, in line with our strategic growth plans,” says Gelchie.
Net income for LDC reached US$568 million during this time period, compared to $662 million over the same time period in 2022.
The company also took a step for the acceleration of its decarbonisation journey, including a 33.6 per cent reduction target for its Scope 1 and 2 greenhouse gas emissions by 2030.
Over the six-month period, LDC advanced with long-term projects, including the expansion of its canola processing facility in Canada, investments in facilities supporting its grains, oilseeds and sugar origination and logistics activities in Argentina and Brazil, and the construction of its food industrial park and instant coffee joint ventures in China and Vietnam.
“In these challenging and rapidly changing times, I am very proud of the considerable achievements we have accomplished so far this year, pursuing our work to help feed and clothe millions of people worldwide, guided by our purpose to create fair and sustainable value in everything we do,” says Gelchie.
“I am grateful to our teams for their hard work and unwavering dedication to our mission, as well as to our partners around the world for their enduring trust, and I am confident that together, we will continue to build on our positive momentum, during the second half of 2023 and beyond.”
For the full half-year report, visit www.ldc.com