Moksel result slides into the red

by Editor fleischwirtschaft.com
Thursday, August 21, 2008

The operative result of the Moksel group in Buchloe, belonging to Vion Holding N.V. based in Best in the Netherlands, declined considerably in the first half of 2008.

Numbers of commercial beef cattle slaughters in the Moksel group in the first six months of this year were 2.2 percent down on the equivalent figure last year: from 206,000 to 201,000. The market share fell from 12.7 percent last year to 11.9 percent in 2008. In the period from January to June the number of slaughtered pigs fell by 18.3 percent from 1.2 million in 2007 to 980,000 in the same period in 2008. The slaughter figures for 2007 included 385,000 carried out by Vion Lausitz GmbH, which has since been sold. Domestic production sales (including by-products) rose by roughly one percent, totalling 302,000 tonnes in the first half of 2008 (2007: 299,000 tonnes including by-products).

Sales of the Moksel group rose by EUR 53 million to EUR 936 million in the first six months of 2008, up from EUR 883 million in the equivalent period in 2007 (an increase of six percent). Reasons for this include higher sales quantities and a slight increase in prices.

The Moksel group ended the first half of 2008 with a net loss of EUR 5.0 million following a balanced result in the equivalent period last year. The operative result (before debtor warrants, financial and tax result) dropped by roughly EUR twelve million to EUR -46 million. The financial result fell from EUR -1.668 million to EUR -5.788 million. The cash flow from operations was EUR -8 million in the first half of 2008, down from EUR +66 million the previous year. The balance sheet total increased from EUR 441 (31 December 2007) to EUR 466 million (30 June 2008).
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