Aviko has achieved an excellent result in 2024. After a record high profit in 2023, which was then supported by incidental income, profit only took a small step back last year. It is striking that Aviko itself makes more profit than parent company Cosun achieved last year, according to new figures.
A turnover of €1,65 billion results in a profit of €121,7 million. This is a fraction (more than €3 million) less than the previous financial year, according to the annual accounts that were recently filed with the Chamber of Commerce. Aviko's profit has been considerably higher in recent years than in 2022 and 2021, when revenues amounted to €40 and €7 million respectively and were probably depressed by corona.
The net profit margin in 2024 of 7,4% is excellent for a food company and also comparable to competitors Farm frits, which saw its profit fall considerably last year. Aviko's solvency is not excessively high at 48%, but is nevertheless in good order.
Aviko is the cash cow
As a 100% subsidiary, Aviko's results are also included in Cosun's group result, which also includes the figures of Cosun Beet Company, Sensus and Duynie, among others. reported in February a profit of €118 million from a turnover of €3,4 billion. Aviko's profit last year was therefore higher than that of the parent company itself. In other words: Aviko is the cash cow of the cooperative, which is therefore able to provide dividends to the approximately 9.000 growers.
In terms of content, Cosun never wants to comment on the figures of the individual companies and only talks about the group result. Cosun CEO Hans Meeuwis did say in February that Aviko 'performed exceptionally well' last year and achieved a strong result. Especially since the result in record year 2023 could be increased by the sale of two factories in Cuyk and Norden.
Growth diamond
An ambition that Cosun has not hidden in recent years is that they want to boost the cooperative's earning capacity. In this respect, Aviko is being specifically looked at, as this subsidiary is also the most active. Last year, the potato processor invested in Poland, China and Western Europe for extra capacity to facilitate further growth. Aviko also has plans to double the capacity in Poperinge in Belgium.
Tough potato market in 2025
Furthermore, the annual report shows that Aviko completely reduced its interest in Russia last year. It also shows that 80% of the turnover is realised with the sale of potato products, the remaining 20% comes from the sale of granulate and flakes. It is generally known that the chip market in 2025 is much less favourable than in recent years, as evidenced by the collapsed potato price in recent months. Whether Aviko can repeat the high profits of recent years remains to be seen. The pressure on the performance of the other companies within Cosun will increase considerably in that case, knowing that the sugar market is still far from favourable.