Potato processor Aviko, owned by Cosun, achieved its highest operating profit ever in 2019. The limited potato harvest in 2018 lifted selling prices to a higher level. Aviko also benefited from the growing global demand for frozen fries and potato products. Demand is rising by about 4% per annum on the back of greater worldwide prosperity. Aviko Rixona is benefiting from the higher global demand for potato snacks.
To continue to meet the demand, Aviko is building a new factory in Poperinge, Belgium, to produce frozen fries and potato flakes. Another investment for profitable growth is the acquisition (90%) of the Chinese fries manufacturer Hongyuan Louis, which is expected to be completed in the first half of 2020. Aviko is looking to the future with confidence.
Another company belonging to Cosun, Duynie Group, saw an increase in both its turnover and operating profit in 2019. All its business units reported growth and strengthened their market positions. Turnover of Duynie Feed increased, amongst others by a new sales office in Poland. AgriBioSource (ABS) in Denmark got off to a successful start supplying fermentation feedstock to produce energy. Novidon benefited from higher prices prompted by a shortage of potato starch in the market.