LDC SA (LOUP) H1 25/26 earnings summary

Executive summary

• Revenue for H1 2025-2026 rose 15.6% year-over-year to €3,450 million, driven by acquisitions and price increases.

• Q2 revenue grew 20.5% to €1,767.4 million, with volumes up 20.7%, reflecting strong contributions from International and Convenience Food divisions.

• Like-for-like H1 sales increased 5.7% in value and 1.7% in volume, highlighting organic growth alongside acquisition impact.

Financial highlights

• Poultry France H1 revenue up 6.5% to €2,300 million; International up 66% to €612.2 million; Convenience Food up 18.2% to €537.8 million.

• Group H1 volumes rose 14.0% including acquisitions, 1.7% like-for-like.

• Q2 Poultry France revenue up 7.5% to €1,139.5 million; International Q2 revenue up 77.9% to €328.1 million.

Outlook and guidance

• Targets for FY 2025-2026 confirmed: €7 billion in revenue and EBITDA of nearly €560 million.

• Strategy focuses on sector modernization and value creation across the supply chain.