LDC SA (LOUP) Q1 26/27 earnings summary

Executive summary

• Q1 2026-2027 revenue reached €1,856.4 million, up 10.3% year-over-year, with organic growth at 6.0%.

• Growth driven by international sales, favorable product mix, and Pierre Martinet Group consolidation.

• Volumes increased 12.8% overall, 4.4% on a like-for-like basis.

Financial highlights

• Revenue for Q1 2026-2027: €1,856.4 million, up 10.3% from Q1 2025-2026.

• Organic growth was 6.0%; volume growth was 12.8% (4.4% like-for-like).

• Upstream division revenue grew 2.5% to €161.1 million.

• Poultry revenue rose 3.8% like-for-like to €1,041.6 million, despite a 2.0% volume drop.

• International division revenue surged 20.1% like-for-like to €341.2 million.

• Convenience Food revenue increased 31.2% to €312.4 million, mainly from Pierre Martinet integration.

Outlook and guidance

• Revenue target for FY 2026-2027 confirmed at over €7.7 billion.

• Current operating margin expected to exceed 5.5% of sales.

• Q2 activity expected to be impacted by heatwaves and lower consumption.