Annual Report
Download the 2024 Annual Report
2024
Arwin Bos, Hans Meeuwis
2024 was a year of ups and downs for Cosun. It was the year in which we looked back in celebration on 125 years of Cosun and the impressive development of our company. We also made good progress on our strategic priorities, but beet crop returns were disappointing. The dynamics were significant last year, with erratic political/geopolitical and macroeconomic developments. The weather had a major impact on our members’ crop yields and crop returns, and the operating result presented a mixed picture. We anticipated these developments by reviewing the strategy to be pursued up to 2030. We are maintaining our course in this regard and have raised our ambitions for 2030. This is how we continue to build a future-proof Cosun and a healthy revenue model for our members.
As a cooperative of Dutch beet growers, Cosun pays its members a beet price that is in part dependent on the results. The beet price is fully recognised in the profit and loss account as the cost of raw materials and consumables and, as a result, also affects the operating result and net result presented in this statement.
(in EUR millions, unless otherwise stated)
At Cosun, we aim for a robust, flexible and sustainable value chain that enables us to respond efficiently to customer needs and market developments. We strengthen our supply chain and reduce our ecological footprint through continuous monitoring and process optimisation.
Cosun invests in healthy performance, i.e. optimal use of our people, raw materials and consumables, resources and factories.
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‘Focused growth’ means that we focus on profitable growth in four core areas: sugar beet, potatoes, food ingredients and co-products.
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Our strategic cornerstone ‘Future-proof sustainable chain’ underpins our efforts in the area of sustainable farming and production. Although the challenges remain significant, 2024 was a fruitful year: we introduced inspiration farms, identified scope 3 supply chain emissions and accelerated our transition to green electricity. Cosun has now fully switched to green power for its activities in the European Union.
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