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More profit for Vreugdenhil Dairy Foods again
Vreugdenhil Dairy Foods has again improved in 2020 compared to the previous year. The turnover and profit as well as the milk price paid increased, the company reports.
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Turnover increased by €13 million to €781 million, while profit rose by €2,9 million to €20,8 million. The milk price paid increased from €36,35 in 2019 to €36,77 in 2020. Solvency was also further strengthened and rose from good 52% to more than 55%.
Vreugdenhil achieved the above-mentioned result by, among other things, processing 1,4 billion kilos of milk, which is 100 million kilos more than in the previous year. In addition to processing milk, the company is also active in the trade of milk and milk products.
Despite problems due to the corona crisis
Vreugdenhil achieved the higher result despite the problems the company was confronted with due to the corona crisis. "In these special times we have shown that we are a resilient organization. Our employees can be proud of that," said CEO Albert de Groot. In 2019 slightly stronger growth rates put down. However, there was no corona then.
At the start of the corona crisis, it did not immediately look like it would be a better year than 2019. Dairy prices then fell sharply, but they recovered in the second half of 2020. The corona issues also put pressure on logistics chain, making it increasingly difficult to get the sold products to customers in a timely manner. Yet things have always gone well, reports Vreugdenhil.
To keep the company sufficiently future-proof, investments of approximately €15 million have been made. In this context, a new planning system was also put into use last year. The company is also working hard to realize its sustainability ambition. Vreugdenhil wants to be CO2050 neutral by 2.