Financial Report and Strategic Outlook
Coamo, one of the largest agricultural cooperatives in the world, headquartered in Brazil, has released its 2024 financial results, revealing a total revenue of R$28.8 billion. This represents a 5% reduction compared to 2023, attributed by management to reduced crop yields and unfavorable market prices. However, the cooperative considers the year a success and will distribute R$694.83 million in surpluses to its members.
José Aroldo Gallassini, Chairman of the Board of Directors, and Airton Galinari, Executive President, explain that Coamo's performance is rooted in a series of strategies developed and refined over its 54-year history. These strategies are primarily linked to the active participation of its members. The more members engage by delivering their production and utilizing the cooperative's various services, the greater their potential profits. This, simultaneously, strengthens the cooperative's bargaining power, leading to increased profitability. Gallassini and Galinari describe this as a virtuous cycle and a synergy of forces.
In addition to the surpluses – which are equivalent to a company's profits – members benefit from several other income-generating programs. These include a loyalty program (R$83 million), the return of share capital (R$24.5 million), and ICMS tax credits (R$22.4 million). In total, the benefits returned to members in 2024 will total R$824 million.
Gallassini emphasizes the crucial role of fair market pricing and vertical integration in achieving success. "Vertical integration is a standout area. Our industrial processing activities recorded higher profitability than grain trading," he noted.
Headquartered in Campo Mourão, Paraná, the cooperative operates in 75 municipalities in Paraná, Santa Catarina, and Mato Grosso do Sul. Coamo processes all the soybeans produced by its members and 50% of the wheat. The cooperative also produces ethanol in Campo Mourão, established CredCoamo (a credit cooperative exclusive to members), and is now venturing into biodiesel production in Paranaguá, among other ventures. Galinari stated that the plan for Coamo is to invest R$850 million in 2025 in its various ventures. These resources will be used for modernization, construction, automation, and the implementation of new technologies in its existing logistics, storage, and industrial facilities. It will also support the construction of new infrastructure, such as the biodiesel plant in Paranaguá. The Biodiesel plant will be built between 2025 and 2026 and, after its inauguration, it is expected to generate profits in five years and will use 120 thousand tons of soybean oil for the production of biodiesel.
Coamo's strategy continues to be member participation and strategic investments, with a focus on diversification and value addition, are not only sustaining its current success but also positioning the cooperative for continued growth and stability in the coming years, even with market challenges.
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