Louis Dreyfus Co. (LDC) posted strong results as it navigated global challenges such as the coronavirus (COVID-19) pandemic, trade tensions and market uncertainty.
“In the first half of 2020, LDC achieved strong results while continuing to deliver essential products and ingredients to customers and consumers around the world, in the context of operational challenges posed by COVID-19 and despite continued trade tensions,” said Ian McIntosh, chief executive officer (CEO) of LDC. “Our diversified portfolio, global geographic footprint and risk management expertise remained crucial to our performance and agility in this environment.”
Overall LDC net income during the six-month period ended June 30 was $126 million, up from $71 million in 2019. Sales were $16.3 billion, down slightly from $17.5 billion. LDC attributed the decrease in sales to lower-than-average prices of main commodities traded by the company and a 2.9% slip in volumes shipped. EBITDA during the first half was $634 million, up from $423 million.