Lochem, 8 August 2024
ForFarmers results for the first half of 2024
Like-for-like growth of volume and strong increase in profitability
Pieter Wolleswinkel, CEO ForFarmers:
"The positive trends of the first quarter have continued, with a significant increase in profitability in the second quarter as well. We strengthened our market positions in this first half of the year, resulting in a satisfactory volume development. The right product and market choices underpin this result and our local approach is valued by customers. The integration of Piast in Poland, acquired early this year, is well on track and we are satisfied with the performance. We are also pleased with the announcement of the intended acquisition of Van Triest Veevoeders, which specialises in co-products. We are convinced that this will enable us to play an increasingly important role in providing sustainable feed solutions. With this acquisition, we fully focus on a market with clear growth potential. I am proud of this strong performance in the first six months and the contribution that everyone at ForFarmers has made to it. Despite macroeconomic and (geo)political uncertainty, we are confident about the future."
Read and download the full press release on our website.
This press release contains information that qualifies as inside information within the meaning of Article 7paragraph 1 of the EU Market Abuse Regulation.
Notes to editor/For additional information:
ForFarmers, Floor van Maaren: floor.vanmaaren@forfarmers.euor +31 (0)573 28 88 00
Company profile
ForFarmers N.V. ('ForFarmers') offers complete feed solutions to the (organic) livestock farming industry. With its mission 'For the Future of Farming', ForFarmers is committed to a future-proof farming business and making the agricultural sector more sustainable. Our goal is clear: to contribute to a good return and a robust long-term business model. How? By leading the way with knowledge, advice, support and products on the farm. Close to the farmers, solution-oriented and with an open view of the future. The result: a contribution to affordable and sustainable food, For the Future of Farming.
With sales of approximately 8.4 million tonnes of feed, ForFarmers is a leading player in Europe. The company has production operations in the Netherlands (head office), Germany, Poland and the United Kingdom, and exports to various countries within and outside Europe. ForFarmers has around 2,400 employees and generated revenue of approximately €3 billion in 2023. ForFarmers N.V. is listed on Euronext Amsterdam.
ForFarmers N.V., P.O. Box 91, 7240 AB Lochem, T: +31, www.forfarmersgroup.eu
FORWARD-LOOKING STATEMENTS
This document contains forward-looking statements that include ForFarmers' regulatory capital and liquidity positions under certain specified scenarios. In addition, forward-looking statements may include, without limitation, statements containing words such as 'intends', 'expects', 'takes into account', 'aims at', 'has the plan', 'estimates' and words of similar purport. These statements concern or may affect future matters, such as ForFarmers' future financial results, business plans and current strategies. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results and performance to differ materially from the expected future results or performance implicitly or explicitly contained in forward-looking statements. Factors that may cause, or contribute to, differences in current expectations include, but are not limited to: developments in legislation, technology, taxation, case law and regulations, fluctuations in stock prices, legal proceedings, investigations by regulators, competitive conditions, and general economic conditions. These and other factors, risks and uncertainties that may affect any forward-looking statement or the actual results of ForFarmers are discussed in the latest published annual report. The forward-looking statements contained in this document relate solely to statements as of the date of this document, and ForFarmers assumes no obligation or responsibility to update the forward-looking statements contained in this announcement, whether in connection with new information, future events or otherwise, unless ForFarmers is required by law to do so.
