“Number one” balance sheet of the group for the first time as a first-degree cooperative: turnover 206 million euros, net profit 1.6 million, assets 79.3 million, surplus value to members 8.2 million euros. Exports at 71 million. Cevico exports to 90 countries around the world, the first three markets: United Kingdom, Japan and Sweden.
TERRE CEVICO: 2023-2024 FINANCIAL YEAR RESULTS PRESENTED.
Terre Cevico faced its first harvest as a first-level cooperative. An important test, also of an organizational nature, passed despite the many meteorological adversities. Over 960,000 quintals of grapes delivered and the mechanized harvest now represents 75% of the total. The Terre Cevico Cooperative confirms itself among the main players in Italian wine and the presentation of the 2023/24 budget took place late yesterday afternoon (10 December) at the Teatro Socjale in Piangipane during which the Sustainability Report (2023/2024) was also presented for the seventh consecutive year.
The first balance sheet with the incorporations in operation (Le Romagnole, Winex, Romagnole 2, Due Tigli, Rocche Malatestiane, Enoica) shows a consolidated turnover of 206 million euros with a net profit of 1.6 million euros , a surplus value for members of 8.2 million euros (the value originating from the difference between the liquidations of the products contributed and the market price) and net equity of 79.3 million euros . From 1 January 2024, a new organizational structure: from a Consortium to a first-level Cooperative with an entirely internal production chain, a winegrower member at the center of the system and a new Board of Directors.
The comparison with previous years therefore records a consolidated turnover up 5% compared to the previous year. A figure that even rises in double figures in the last three years for a growth of 51% compared to the 2020/2021 financial year (136 million) also as a function of the acquisitions made.
As regards the packaged sector, the Italian market is the one that is growing the most, rising to 83.7 million euros, recording a 3% increase over the previous year (81.2 million). Exports today account for 46% of the group’s packaged product revenues. The Lugo Cooperative now operates, also through its subsidiaries, in 90 countries with leadership in some areas such as Japan, Sweden, the United States, China, Ukraine and in the last seven years it has seen strong growth in exports, going from 42.9 million in the 2017/18 financial year to 71 million (65%). The top three foreign markets for bottled products are the United Kingdom (9.5 million euros), Japan (7.7 million euros) and Sweden (6.5 million euros).
The Italian channel grows in value in the large-scale retail market with 54.7 million euros (3.4%) and in the Horeca channel which is worth 19 million euros (7.8%).
The Assembly in Piangipane
The data were presented yesterday (December 10) in the Budget Assembly held at the Teatro Socjale in Piangipane, which saw the interventions of Franco Donati, President of Terre Cevico, Linda Faggioli, Administrative and Financial Director, Paolo Galassi, General Director, Alessio Mammi, Councilor for Agriculture of the Emilia-Romagna Region, and Paolo Lucchi, President of Legacoop Romagna. Also present were Cristian Maretti, President of Legacoop Agroalimentare, and Daniele Montroni, President of Legacoop Emilia Romagna.
They said in the Assembly.
Franco Donati , President of Terre Cevico: “The Cevico system has achieved important results for its members in 60 years, but to continue on this path, it is necessary to manage growth with productive and organizational efficiency. It would be a serious mistake to allocate additional resources only to plug inefficiencies without addressing the necessary organizational, corporate and technological innovations. Outside, no one gives us discounts and all agricultural cooperation that looks to the future must orient itself towards the market without hesitation, without leaving anyone behind but also taking on the responsibility of making essential choices to make it possible for cooperative principles to coexist with being a true business. The reorganization of Terre Cevico is going in this direction and the numbers in this budget and the 2025 budget are concrete proof of this”.
Alessio Mammi, Regional Councillor for Agriculture of the Emilia Romagna Region : “ Congratulations to Terre Cevico for the important results that demonstrate the ability of cooperation to respond to the difficult and complex challenges we are experiencing: from climate change, to increased costs, to changes in consumption. We are the Region that exports the most wine and food in Italy for 10 billion euros, thanks to the quality of its production, its organization, food safety and its strong identity in the world. As a Region we want to accompany Cevico’s growth path, by implementing important projects to support the sector. Even more so in 2025, when Europe will be called upon to make important decisions starting with the new CAP. Because Europe can only have a perspective if it gives a future to the agri-food supply chains, as Draghi indicated in his Report ”.
The closing was entrusted to Paolo Lucchi, President of Legacoop Romagna : “ It is not by chance that we are in this Teatro Socjale. Here in 1911 the land was acquired by the CAB of Piangipane (Cooperativa agricola braccianti, which is part of the assets of the current CAB Terra) and in 1920 the farm workers built it, inaugurating it a year later. This is the home of cooperation. The budget presented tells us that the numbers are important but it is essential to highlight that behind them there is the work of many people. There is the responsibility of a large cooperative group towards the territory. The sector faces many challenges starting from climate change, a change that is in the facts and that tells us that agriculture will have to be different. Together with this there is the issue of finding personnel, of the international markets in continuous change, of inflation that limits purchasing power. Many challenges that can be faced by focusing on innovation and on the bond with the territory that must never be lost. Two paths that Cevico has undertaken as confirmed by the approved budget data .”