SHAREHOLDERS’ NEWSLETTER VIVESCIA INDUSTRIES 2022-2023 Financial indicators at 30 June 2023 For the second consecutive year, the By continuing to implement ef昀椀cien- With weak consumer spending, the Group’s businesses came under in- cy plans in manufacturing, sales and milling business has seen sales vo- tense in昀氀ationary pressure affecting logistics across all our businesses, we lumes fall, in particular in the craft all operating costs. In response to this have successfully dealt with the pres- bakery segment. Grands Moulins de exceptional situation, all our food pro- sures and risks caused by the econo- Paris has continued to implement its cessing subsidiaries had to negotiate mic and geopolitical environment. digital innovation plans, key among signi昀椀cant price increases with their The Group’s net debt is up €94.9 mil- which was the launch of the 昀椀rst dedi- customers, which were passed on pro- lion to €535 million as a direct conse- cated marketplace for craft bakers. gressively throughout the year. quence of the increased working The malting, frozen bakery and milling From early autumn 2022 onwards, capital requirement and a continued businesses together recorded sales lower consumer spending drove down commitment to investment despite of €2.7 billion — up 19.2% on the pre- sales volumes for most of our proces- soaring interest rates. vious year. sing subsidiaries. NEALIA turned its results around des- With the beer market less buoyant pite a sluggish livestock farming mar- than last year, malt sales fell slightly. ket. At Kalizea, our maize processing Cost in昀氀ation has been successfully business, results are up despite falling offset by the operational ef昀椀ciency consumption and in昀氀ationary pres- plans and commercial negotiations. sure. Our biotechnologies and R&D Malteurop completed the construc- business, ARD, has continued to grow tion of its new malt house in Mexico in strongly with the launch of a second June 2023 and malt production began industrial demonstrator, BioDémo 2, in July. in April 2023. Our milling and frozen bakery bu- Overall, VIVESCIA Industries’ turno- sinesses have been hit hard by higher ver is up 19.1% to €3.6 billion. costs across the board. Sales price Driven by the price increases that increases were negotiated with cus- were negotiated to progressively off- tomers to cover these additional set exceptional cost in昀氀ation, organic costs progressively. Délifrance’s sales revenue growth is €464 million. volumes rose, and the business has Thanks to the operational excel- continued to roll out its manufacturing lence plans implemented across all and logistics plans, including the key the Group’s businesses, EBITDA for opening of a new refrigerated storage the year ending 30 June 2023 rose unit at Romans-sur-Isère in February to €148.8 million — up €12.5 million 2023. year-on-year. 20 21