News Milk
Belgian LDA makes leap with mozzarella factory
The Belgian dairy cooperative LDA made a huge leap in turnover and profit last year. This is due to both the strongly increased dairy market and the commissioning of a new mozzarella factory in Badour.
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The filed annual figures show that company turnover increased from €697 million to €1.072 million, which represents an increase of almost 54%. This brings the cooperative to the same level as Milcobel in terms of pure dairy turnover. Profit also increased, from €5,9 million to €8,8 million, which amounts to a plus of 49%. In parallel, the cooperative also recorded a significantly higher milk price. According to the Belgian milk price comparator van Boerenbusiness the advance price for an annual supply of 1 million liters was €54,61 per 100 liters. An additional €0,55 is added for sustainability, plus a supplementary payment. LDA has not disclosed the amount of the additional payment.
Due to the commissioning of the mozzarella factory, the balance sheet increased by more than €50 million to €409 million. It is remarkable that, despite last year's high milk price, the company has relatively little inventory on the balance sheet (€80 million). The company indicates that it wants to operate cautiously this year, because the market has changed significantly. Competition in Belgian dairy is also increasing due to the entry of new players.