AVEBE Delivers “Outstanding” Financial Results

Over financial year 2011/2012 AVEBE was on average able to achieve good market prices. The good harvest brought an end to the scarcity of potato starch that marked financial year 2010/2011.

22 Nov 2012 --- In financial year 2011/2012 AVEBE, the world’s leading potato starch company, achieved a net profit of 32.1 million euros with a turnover of 595.5 million euros. This represents an increase in the net result of over 60% compared to the previous year (19.8 million euros). The turnover for that year was 565.3 million euros.

Over financial year 2011/2012 AVEBE was on average able to achieve good market prices. The good harvest brought an end to the scarcity of potato starch that marked financial year 2010/2011.

A total price of 76.94 euros per ton of potatoes was earned. That is almost 10 euros more than in the previous year (67.32 euros). Most of this goes to AVEBE’s member farmers and includes the price paid for the starch potatoes delivered, as well as the anticipated subsequent payment from the profit.
Chairman of the Board and CEO Bert Jansen stated: “Favourable price developments in the market in combination with a good sales volume contributed to AVEBE’s good results in the past financial year. This made it possible to achieve an above-average performance-based price. That has also enabled us to increase the investments that will make it possible for AVEBE to substantially reduce costs in the years to come. We will be continuing on this course in the coming years in order to offer our growers good prospects and to make AVEBE more sustainable for the future.”

At the general meeting in December 2012 the Members’ Council of AVEBE will be proposing to pay out a sum of 12.5 million euros to the members. That represents approximately 135 euros for each fully subscribed share. This result also makes it possible to decrease the financing by the members.

The initial months of the current financial year that began on 1 August 2012 have gone satisfactorily. AVEBE has succeeded in achieving good market prices. AVEBE will therefore increase the advance for its growers for the supplies in the 2012/2013 campaign by 10 euros. This is 2.5 euros more than in the previous financial year, when a market bonus of 7.5 euros per ton of starch potatoes was paid.