Louis Dreyfus Company B.V. (LDC) announced resilient financial results for 2024 despite ongoing geopolitical and climate-related challenges, with net sales reaching $50.6 billion and EBITDA at $1.88 billion.
The global agricultural commodities merchant reported Segment Operating Results of $2.35 billion, slightly down from $2.61 billion in 2023. The company significantly increased its capital expenditure to $1.01 billion, up from $636 million the previous year, focusing on organic developments and strategic acquisitions.
"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, LDC's Chief Executive Officer.
Key investments in 2024 included expanding oilseeds processing capacity in North America, constructing a pea protein isolate production plant in Canada, and enhancing logistics facilities in South America. The company also completed two strategic acquisitions: Companhia Cacique de Café Solúvel and Namoi Cotton Limited.
LDC launched its first consumer-facing juice brand, Montebelo Brasil, in France and relaunched its Vibhor edible oils brand in India. The company also signed a binding agreement to acquire BASF's Food and Health Performance Ingredients business, subject to regulatory approvals.
On the sustainability front, LDC progressed toward its 2030 emissions reduction targets and adopted new Scope 3 targets. The company aims to reduce the carbon intensity of sourced commodities by 20% and related land use emissions intensity by 30% compared to a 2022 baseline.
"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," Gelchie added.
The company's financial position remains strong, with an adjusted leverage ratio of 0.5x and liquidity coverage of 2.7x as of December 31, 2024.
