Avebe Records Performance Price for 2017/2018 Financial Year
In the 2017/2018 financial year, which ended on 31 July 2018, Avebe achieved a performance price of EUR85.81, a record and more than 4% higher than the performance price of the previous financial year.
The performance price is the cooperative’s most important financial indicator, as it combines the cooperative result and the potato price, according to the company. The cooperative result amounted to EUR7.8m, which is around EUR1.5m more than the year before. A subsequent payment of nearly EUR2.9m to the members will be proposed at the members’ council meeting in December. This makes the payment ratio 98%.
The positive result is based on a good volume, good production results and favorable developments in the market. In food derivatives, which are special starches that are used in food, there were particularly strong developments. The production and sales of Avebe’s potato protein also demonstrated a positive trend.
Over the past financial year, the cooperative invested some EUR55m in further expansion of the protein-production capacity and in optimizing existing production facilities and making those more sustainable.
Chairman of the board Bert Jansen said: “We are proud of the results we have managed to achieve as cooperative. It demonstrates the power of Avebe and what we and our members and employees can achieve together. This will be a driver for the current financial year that has just started. Many of our members were faced with drought and disappointing harvests. It is only with good results that we can remain relevant to our members in the long term. This year we will continue our work to achieve our strategic objectives.”