ROUGEMONT, QC, - Lassonde Industries Inc. (TSX: LAS.A) ("Lassonde" or the "Corporation") today announced its financial results for its fourth quarter and year ended December 31, 2022.
"Despite a challenging year impacting our financials, we achieved an important milestone in 2022 with sales exceeding the $2-billion mark for the first time in our history, representing almost 14% growth year-over-year. This achievement reflects the important efforts of our employees in the context of severe macro-economic headwinds and industry-wide challenges. During the past year, our team worked diligently to strengthen our leadership position in the North American food and beverage sector, with a particular focus on improving U.S. operations. We anticipate that tangible results from our operational excellence efforts will gradually become apparent in 2023 and 2024, establishing a clear path towards long-term profitable growth," said Nathalie Lassonde, Chief Executive Officer and Vice-Chair of the Board of Directors of Lassonde Industries Inc.
"Throughout 2022, we actively engaged resources, including capital expenditures, towards executing our multi-year strategy and delivering on Project Eagle in the U.S. We are pleased with the progress achieved on several operational improvement initiatives to enhance production efficiency and output, that we will benefit from in the years ahead. While we anticipate certain challenges faced in 2022 will likely abate in 2023, we expect inflation to persist, especially regarding commodity prices. However, through further pricing actions, and given current industry demand as well as assuming stable exchange rates, we anticipate the 2023 sales growth rate to be in the mid to high single-digit range and overall profitability to improve," added Vince Timpano, President and Chief Operating Officer of Lassonde Industries Inc.
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