Miller Magazine Issue: 136 April 2021

57 MILLER / aprıl 2021 NEWS Louis Dreyfus Company B.V. (LDC) reported strong consolidated financial results for the year ended Decem- ber 31, 2020, successfully navigating uncertainty induced by the Covid-19 pandemic, climate challenges, currency fluctuations and continued trade tensions, to ensure business and supply chain continuity.  Net sales remained stable year-on-year, at US$33.6 bil- lion. Segment Operating Results rose 63.1% year-on-year to US$1,559 million, as LDC successfully managed risks to cap- ture profitable origination and sales margins while meeting customer demand. This performance drove EBITDA from con- tinuing operations of US$1,324 million, up 58.4% versus 2019. “The multidimensional global crisis caused by the Covid-19 pandemic underlined the importance of LDC’s role to feed and clothe millions of people, and the significance of our vision to help shape a safe and sustainable future of food,” said Margar- ita Louis-Dreyfus, Chairperson of Louis Dreyfus Holding B.V. “I am proud of what we achieved as a Group in 2020. Our per- formance and progress, and our agreement to welcome ADQ as shareholders, put the Group in a solid position for the future, as we turn a new chapter in LDC’s 170-year history.” Both business segments contributed to LDC’s strong oper- ating performance in an uncertain market environment, with operating results up 76.3% and 43.7% year-on-year in the Val- ue Chain Segment and Merchandizing Segment respectively. Demand remained resilient for all the main products commer- cialized by the Group, except cotton and bioenergy, as lock- downs impacted demand in the textile and energy sectors. In this context, LDC leveraged its expertise, diversified business portfolio, and global presence and network to keep supply chains flowing efficiently, reliably and profitably. “In a year marked by an unprecedented global crisis, LDC’s reach, expertise and adaptability proved more important than ever, enabling us to keep essential supply chains active and deliver significantly improved results, while pursuing our stra- tegic plans,” said Michael Gelchie, LDC’s Chief Executive Offi- cer. “Our efforts in this uncertain and challenging environment were fruitful. We protected our people, our operations pro- ceeded with minimal interruptions and we delivered solid fi- nancial results, all while pursuing our transformational journey.” LDC pursued investments supporting its strategic ambitions, albeit selectively in an uncertain context. The Group invest- ed in disruptive technologies through its corporate venture capital program “LDC Innovations”, in the creation of Covantis S.A., a technology company focused on digitizing international trade, in its data science capabilities to support core trading activities, and in the upgrade, development and expansion of its asset network globally. The Group also took delivery of a new eco-efficient fleet for its juice business, formed an aquatic feed research partner- ship, signed an agreement with Chinese partners to build a food industrial park, launched new branded products in China and partnered with leading e-commerce companies to distrib- ute these. Louis Dreyfus reports rise in annual profit