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Less turnover, but more milk and profit for LDA
The Belgian dairy cooperative LDA had more than €200 million less turnover last year than the year before, but still achieved a higher net result, with a larger milk supply.
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The cooperative processed a total of 2023 billion liters of milk in 1,3, which was more than 50 million liters more than the previous year. Meanwhile, turnover fell from €1.072 million to €864 million. This was partly due to high dairy prices in 2022, which fell sharply the following year. The gross result also fell, from €8,8 million to €5,7 million. After tax, however, €2,9 million remained, which was 4 more than in 2022.
LDA saw its balance sheet total decline slightly to €390 million, but has strengthened its equity in the meantime. Not only in percentage terms, but also in absolute terms (+€9,5 million). The milk price paid last year was lower than in 2022 and amounted to €39,83 per 100 liters, at Belgian legal levels. The number of members decreased by about 100 in 2002.
Hochwald interest acquired
Although it did not take place in 2023, but at the beginning of this year, LDA also reports that the cooperative has acquired the stake of Germany's Hochwald in Solarec. Hochwald bought in in 2013, committed to supplying 50 million liters of milk annually to Solarec in Recogne and also founded the joint venture ALH together with LDA. It has now also been disbanded.
LDA was and is the main shareholder in Solarec. Other shareholders are Luxlait and 2 French cooperatives. At the end of 2022, LDA opened a second factory in Baudour, where it produces mozzarella.