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Clarebout Potatoes, the undisputed king of frozen fries, achieved a turnover of almost 1.1 billion euros in 2022, with a net profit of 126 million euros. The potato processor benefits from the fact that consumers are increasingly opting for private brands.
A potato year
Clarebout produces the largest number of frozen fries in Europe, and the West Flanders company benefits well from it. At the end of December, the group published its figures for the year 2022, where the website De Rijkste Belgen (The Richest Belgians) reported an increase in turnover of more than 60%. The turnover reached 1.079 billion euros.
Volumes increased as consumers increasingly turned to private labels, while people also returned to eating out (fries) more often after the Covid pandemic. Although the 2022 harvest was not a success due to severe drought, the processor benefited from rising potato prices. This increase was such that even the increase in energy prices and the fact that Clarebout had to import potatoes for the first time were more than offset.
These figures do not take into account the resumption of Mydibela colleague in the sector, at the end of 2022. This achieved a turnover of 362.6 million euros and a net profit of 1.1 million euros in 2022. There remains to see if the group will be able to get rid of the rise in raw material and energy prices as easily in 2023.
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Clarebout Potatoes, the undisputed king of frozen fries, achieved a turnover of almost 1.1 billion euros in 2022, with a net profit of 126 million euros. The potato processor benefits from the fact that consumers are increasingly opting for private brands.
2024-01-04 18:45:01
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