Lactalis Annual Report 2023

Globally, 2023 was an exceptionally complex and unstable year. Geopolitical tensions, the continuation of the war in Ukraine and the emergence of new conflicts had a significant impact on our business. Natural disasters and the adverse effects of global warming disrupted our activities in many territories. Furthermore, while the inflation we’ve been experiencing for the last two years is easing, the first signs of recession have begun to make themselves felt. Global growth was sluggish in 2023, and even declined in Europe, our main market.

In 2023, Lactalis continued to expand in the Americas. In Brazil, we acquired Dairy Partners Americas, a joint venture between Nestlé and Fonterra. This enabled us to consolidate our leading position in the Brazilian short shelf-life market. In Canada, we entered the premium desserts market with the acquisition of Marie Morin Canada. But our core business is cheese-making, and we further strengthened our commitment to tradition and quality cheeses by welcoming Ambrosi, an Italian family business specialising in pressed cheeses such as Parmigiano Reggiano PDO and Grana Padana PDO, to our Group.

Highlights

• No. 1
• world’s leading dairy group
• world’s leading group in the cheese market
• world’s leading group in dairy fats (butter and cream)
• world’s leading player in PDO and raw milk cheeses
• 2nd
• global group in the chilled dairy market
• global group in fluid milk
• 10th
• Largest global food Group
• In 2023 29.5 billion euros in revenues
• 4.3% Growth in sales