Avebe performance price rises to 96.63 euros

NewsMonday, 18 Nov 2019

In financial year 2018/2019, which ended on 31 July 2019, Avebe achieved a performance price of 96.63 euros. In the previous financial year it was 85.81 euros. This is another record for the cooperative: the company has increased its performance price for the third year running.

The performance price is the cooperative’s key financial indicator. It combines the cooperative result and the potato price. The cooperative result totals 5.2 million euros, a fall of over 2.5 million euros compared to the previous financial year. This is a logical consequence of the higher potato price paid during the campaign.

As announced by Avebe earlier in the financial year, a proposal will be made to the Members’ Council meeting in December to distribute the cooperative result in full to the members.

Avebe has invested more than 45 million euros in the past financial year, mainly in innovation and sustainability.

Exceptional year

The 2018/2019 financial year will go down in history as an exceptionally dry and hot year. This resulted in Avebe’s volume being over 25% less than usual. Avebe was able to promptly respond to this by taking full advantage of favourable market conditions while reducing costs.

“We as a company can be proud of this result and have been able to favourably translate the developments into actions. But the circumstances were exceptional. For many of our members, the 2018 harvest is and remains a very bad year. We’d prefer to have a good performance price under normal conditions”, says CEO Bert Jansen.