ROTTERDAM, The Netherlands – Louis Dreyfus Company B.V. (LDC) published yesterday its consolidated financial and sustainability performance results for the year ended December 31, 2024. Despite new and ongoing geopolitical and climate-related challenges throughout the year, the Group once again delivered resilient financial results, with net sales amounting to US$50.6 billion, Segment Operating Results at US$2,348 million and EBITDA at US$1,883 million.
“Thanks to market insight and risk management expertise, coupled with our extended global network and business portfolio, the Group successfully navigated market uncertainty and operational challenges to deliver resilient results,” said Michael Gelchie, Louis Dreyfus Company ’s Chief Executive Officer.
“Guided by our strategic vision, Louis Dreyfus Company continued to position itself as an integrated, innovative and sustainable company, while fulfilling its crucial role in sourcing, processing and delivering high-quality food, feed, fibers and ingredients to sustain a growing global population.”
The Group significantly accelerated its capital expenditure in 2024, reaching US$1,005 million, geared toward organic developments and acquisitions in various business lines.
In particular, the Group advanced work to expand its oilseeds processing capacity in the US and Canada, began building a pea protein isolate production plant in the latter, invested in logistics facilities supporting Grains & Oilseeds operations in Argentina, Paraguay and Uruguay, and started the construction of a new sugar transshipment terminal as well as a logistics hub for its fertilizers and cotton businesses in Brazil.
2024 also saw the completion of two strategic acquisitions: Companhia Cacique de Café Solúvel, consolidating LDC’s global soluble coffee business, and Namoi Cotton Limited, Australia’s largest cotton ginning company. The latter will also support the origination operations of our recently created pulses business and our grains business in the country.
LDC also launched its first owned consumer-facing juice brand, Montebelo Brasil, in France and relaunched its Vibhor edible oils brand in India.
At the end of the year, LDC signed a binding agreement to acquire BASF’s Food and Health Performance Ingredients business to accelerate the Group’s participation in the rapidly-growing plant-based ingredients market, subject to regulatory approvals and closing conditions.
Sustainability being an integral part of LDC’s business strategy, in 2024 the Group continued its efforts to advance its sustainability roadmap.
“Throughout the year, we progressed toward our 2030 Scope 1 & 2 emissions reduction target through various improvement and energy-efficiency initiatives at our sites, as well as increasing use of renewable energies in our operations,” said Michael Gelchie. “We also adopted our first near-term Scope 3 emissions reduction targets by 2030: to reduce the carbon intensity of commodities sourced by 20%, and the intensity of related land use emissions more specifically by 30%, both compared to a 2022 baseline.”
In line with its commitment to deforestation- and conversion-free (DCF) supply chains, the Group also published its DCF methodology supporting this roadmap, and accelerated actions to engage and empower farmers to transition to regenerative agriculture practices, including in collaboration with The Nature Conservancy. In addition, LDC worked to develop its portfolio of value-added products and services to help meet customers’ decarbonization and responsible sourcing needs – for example, through regenerative agriculture programs in the Americas, and collaborations to promote camelina cultivation in South America.
“As we progress on our journey to grow our core business while diversifying into new activities, we are further developing, embracing and promoting adoption of new solutions, technologies and practices for efficiency, productivity, profitability and sustainability across our value chains: from the farms growing the crops we all depend on, to our customers and end consumers, and all the stakeholders in between,” said Michael Gelchie. “Going forward, I am confident that LDC is well placed to continue growing and fulfilling the mission we have pursued for almost 175 years: to bring the right products to the right location, at the right time – safely, reliably and responsibly.”
2024 Financial Highlights:
- Net Sales: US$50.6 billion (US$50.6 billion for the year 2023)
- Segment Operating Results: US$2,348 million (US$2,607 million for the year 2023)
- EBITDA: US$1,883 million (US$2,222 million for the year 2023)
- Volumes: Up 17.4% year on year
- Capital Expenditure: US$1,005 million (US$636 million for the year 2023)
- Return On Equity, Group Share: 11% (16.6% for the year 2023)
- Adjusted Leverage Ratio: 0.5x (0.1x as of December 31, 2023)
- Adjusted Net Gearing: 0.15 (0.02 as of December 31, 2023)
- Liquidity Coverage: 2.7x (5.2x as of December 31, 2023)
LDC’s 2024 Integrated Report is available for download via ldc.com/integrated-report-2024/.
