Balance sheet marked by growth for Terre Cevico, in its first year as a first-level cooperative: the 2024 turnover reaches 206 million euros, the net profit is 1.6 million, net equity at 79.3 million and surplus value to members of 8.2 million euros. Excellent news from the Italian market, with large-scale distribution marking a +3.4%), while the turnover in the Horeca channel reaches 19 million euros (+7.8%), excellent performance also for Export, for a business that has reached 71 million euros, touching 90 countries in the world, with the United Kingdom, Japan and Sweden at the forefront.
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.
Growing turnover and exports reaching 90 countries worldwide: Terre Cevico’s 2024 numbers
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 (December 10) at the Teatro Sociale 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 capital gain 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.
The comparison with previous years therefore records a consolidated turnover up by +5% compared to the previous year. A figure that has even risen 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 result 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% on the previous year (81.2 million).
Exports today have an impact of 46% on the group’s packaged product revenues. The Lugo Cooperative 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 Cevico system in 60 years has achieved important results for its members but to continue on this path it is necessary to manage growth with productive and organizational efficiency”, underlines Franco Donati, president of Terre Cevico. “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 mandatory choices to make it possible for cooperative principles to coexist with being a true business. The reorganization of Terre Cevico goes in this direction and the numbers of this budget and the 2025 budget are concrete proof of this”.
