Elivia, the French meat processing business part-owned by Dawn Meats for the past three years, has retreated into loss-making territory. Despite an increase in slaughterings to 428,500 adult cattle, 18,500 veal animals and 25,500 lambs, turnover slipped back 1.3% to €922m in 2017.
Earnings before tax, depreciation and amortisation (EBITDA) fell under €1m last year from over €15m in 2016. Once amortisations and depreciation are factored in, the company returned an operating loss of €17.6m. By contrast, Elivia had achieved a small operating profit in 2016 for the first time in eight years. Its bottom-line pre-tax loss for 2017 was €19.3m, after a €12m profit the previous year.
The company stabilised in 2017, with no significant change to its operating structures reported after large-scale consolidation of subsidiaries and investment in previous years. Elivia remains majority-owned by French co-op Terrena after Dawn Meats bought a 49% stake in it in 2014. The Irish processor had not exercised its option to increase its holding to up to 70% as of the close of accounts last December.
Amortisation charges increased after investment in new equipment in previous years and total debt increased by €3.5m to €179m. Elivia added more than 200 staff to its workforce, in line with the integration of employees from consolidated subsidiaries observed in previous years, but labour costs did not rise last year.
Read more
Have we hit peak Ploughing?
€5/kg needed to break even on Dawn Meats demo farm
Elivia, the French meat processing business part-owned by Dawn Meats for the past three years, has retreated into loss-making territory. Despite an increase in slaughterings to 428,500 adult cattle, 18,500 veal animals and 25,500 lambs, turnover slipped back 1.3% to €922m in 2017.
Earnings before tax, depreciation and amortisation (EBITDA) fell under €1m last year from over €15m in 2016. Once amortisations and depreciation are factored in, the company returned an operating loss of €17.6m. By contrast, Elivia had achieved a small operating profit in 2016 for the first time in eight years. Its bottom-line pre-tax loss for 2017 was €19.3m, after a €12m profit the previous year.
The company stabilised in 2017, with no significant change to its operating structures reported after large-scale consolidation of subsidiaries and investment in previous years. Elivia remains majority-owned by French co-op Terrena after Dawn Meats bought a 49% stake in it in 2014. The Irish processor had not exercised its option to increase its holding to up to 70% as of the close of accounts last December.
Amortisation charges increased after investment in new equipment in previous years and total debt increased by €3.5m to €179m. Elivia added more than 200 staff to its workforce, in line with the integration of employees from consolidated subsidiaries observed in previous years, but labour costs did not rise last year.
Read more
Have we hit peak Ploughing?
€5/kg needed to break even on Dawn Meats demo farm
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