Lactalis’ Revenue Surpasses €30bn Amid Challenges
Source: dairynews.today
Lactalis reports €30.3bn revenue for 2024, despite a 19% drop in net profits due to a French tax settlement.
Lactalis, the world’s largest private dairy company, announced that its revenue surged past the €30bn mark for the first time in 2024, reaching €30.3bn. This financial landmark coincides with significant challenges, as the net profits fell by 19% to €359m, influenced primarily by an 'unquantified and unspecified tax settlement' with French authorities during the late part of the year.
Despite the steady revenue growth from the previous year’s 4.3% to 2.8%, the dairy giant notes a slowdown due to 'an unstable geopolitical and economic climate'. The company’s operating income increased by 4.3%, although the final figures were not disclosed. The pivotal tax settlement stems from ongoing investigations by the Parquet National Financier (PNF) starting in 2018 over supposed tax malpractice dating back to the same year.
Chairman Emmanuel Besnier remarks on Lactalis' resilience, highlighting significant investments exceeding €1bn in their global manufacturing facilities, including projects in France, Italy, the US, and Australia. Chairman Besnier emphasizes the firm's commitment to growth and innovation through sustainable practices despite the mounting pressures and falling profit margins, which dipped to 1.2% in 2024, compared to 1.45% in 2023.
Despite the steady revenue growth from the previous year’s 4.3% to 2.8%, the dairy giant notes a slowdown due to 'an unstable geopolitical and economic climate'. The company’s operating income increased by 4.3%, although the final figures were not disclosed. The pivotal tax settlement stems from ongoing investigations by the Parquet National Financier (PNF) starting in 2018 over supposed tax malpractice dating back to the same year.
Chairman Emmanuel Besnier remarks on Lactalis' resilience, highlighting significant investments exceeding €1bn in their global manufacturing facilities, including projects in France, Italy, the US, and Australia. Chairman Besnier emphasizes the firm's commitment to growth and innovation through sustainable practices despite the mounting pressures and falling profit margins, which dipped to 1.2% in 2024, compared to 1.45% in 2023.
