Agrifirm is having a good year and can pay out €27 million

Agrifirm has achieved good results in the past year. The net result is higher, the cash flow is positive and the solvency is above 56%. The intended recovery of results has thus been amply achieved. Good news for the Dutch cooperative members, because as a result of these good results, it can pay out €27 million to its approximately 10.000 members.

The net result of Royal Agrifirm Group last year amounted to €39,8 million. A year earlier, that was still €17,2 million. That year was therefore more than challenging. The year 2020 was therefore mainly dominated by profit recovery. That has clearly succeeded. For example, not only is the net result higher, but the solvency is above 56% and the company records an operating cash flow of €56,7 million.

Special year
"The corona crisis, animal diseases, the nitrogen problem and social pressure. Last year was another challenging year. I am therefore proud that we have amply exceeded our financial target," said CEO Dick Hordijk. According to the cooperative, the Dutch feed company, the strong sales growth of Welkoop, the product introductions in the Chinese market, a further strengthening of Agrimprove and sustainable feed ingredients made the strongest contribution to the recovery.

It is striking that the sales volume last year was slightly lower than a year earlier. In 2020, a total of 6,27 million tons was sold, compared to 6,35 million tons a year earlier. If we only look at the compound feeders, growth is visible: 3,86 million tons in 2020 versus 3,62 million tons in 2019. The sales of grains, potatoes, onions and carrots account for a large share in the volume decline. Sales of this decrease by 34 tons to 300 tons. Sales of co-products also fell sharply last year: from 1,70 million tons to 1,34 million tons.

€27 million to members
All in all, however, Agrifirm had a good year, which is positive for the Dutch cooperative members. This makes it possible for the cooperative feed company to pay out €27 million to its approximately 10.000 members. A year earlier, the profit distribution did not exceed €16 million.

Kimberly Baker

Kimberly Bakker is an all-round editor at Boerenbusiness. She also has an eye for the social media channels of Boerenbusiness.

k.baker @boerenbusiness. Nl

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