Lactalis: Navigating Through Economic Challenges and Controversies
Source: dairynews.today
Lactalis, the world's largest dairy company, surpassed €30bn in revenues despite economic instability, but faced decreased net profit amid tax investigations.
Lactalis achieved a milestone by exceeding €30bn ($34.1bn) in earnings last year. However, their growth momentum waned within an "unstable geopolitical and economic climate." In 2024, net profits plummeted by 19% to €359m after an undisclosed tax settlement with French authorities.
The company is under investigation by the Parquet National Financier for alleged tax fraud dating back to 2018. Reports claim Lactalis used subsidiaries in Belgium and Luxembourg to funnel profits, amid accusations of reducing taxable income in France. Despite a 2.8% revenue rise to €30.3bn, this was down from a 4.3% growth in the previous year.
The company's operating income climbed 4.3%, though the exact figure wasn't disclosed, while net income fell from €428m. Lactalis Chairman Emmanuel Besnier emphasized their longstanding expertise in dairy production and ongoing commitment to growth and innovation globally, with over €1bn invested in manufacturing improvements last year in multiple countries.
The company is under investigation by the Parquet National Financier for alleged tax fraud dating back to 2018. Reports claim Lactalis used subsidiaries in Belgium and Luxembourg to funnel profits, amid accusations of reducing taxable income in France. Despite a 2.8% revenue rise to €30.3bn, this was down from a 4.3% growth in the previous year.
The company's operating income climbed 4.3%, though the exact figure wasn't disclosed, while net income fell from €428m. Lactalis Chairman Emmanuel Besnier emphasized their longstanding expertise in dairy production and ongoing commitment to growth and innovation globally, with over €1bn invested in manufacturing improvements last year in multiple countries.
