Agristo boosts net profit to 224 million euros

The Belgian fries company Agristo has increased its net profit in 2024 to 224 million euros. This is the second consecutive year that the company has achieved more than €200 million in profit. Agristo has made significant strides. From 2014 to 2021, the company's net profit fluctuated between €2 and €28 million. In 2022, the profit was boosted to €76 million. At that time, this represented more than a tenfold increase compared to the previous year. This trend continued in 2023 with a tripling of profit to over €200 million. The money that the family business earns from processing potatoes is almost entirely used for new investments in the company. The ambitions are high; the company wants to be the most innovative fries company in the world. In addition to production in Belgium and the Netherlands, Agristo established a presence in India in 2022 with a production line for flakes. This year, the company announced plans to build a factory in North Dakota in the United States. In Europe, the company faced headwinds this year, leading to the decision to postpone the construction of a new factory on the site of an old sugar factory in France. In 2024 – as indicated in the annual accounts – a significant revenue growth of nearly 6% was achieved. This made it a quieter year for Agristo, as in the two previous years, revenue had increased by more than 40% each year. Revenues rose from around €600 million in 2021 to over 1.3 billion in 2024. Thus, more than a doubling. Inflation combined with a strong increase in selling prices has been beneficial for the company. The operating profit rose in 2022 to over €100 million, and in 2024 a step has been taken towards a result of more than €300 million. According to the company, production of fries and other potato products is now approaching the threshold of 1 million tons.