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ForFarmers maintains upward trend
ForFarmers also showed a recovery of results in the third quarter of this year. Turnover decreased, but the operational result increased, while more compound feed was sold.
CEO Pieter Wolleswinkel is also satisfied: "The strong trend of the first half of the year continues in the third quarter. Our ambition to continue to gain market share is reflected in the good volume growth of 6%. The operational profitability has again improved significantly."
It is not only the results from the ordinary business operations that are satisfying, Wolleswinkel also points out that the company has "again taken nice strategic steps" in the past quarter, such as the announcement of the joint venture with team agrar. According to him, ForFarmers is laying the foundation for a solid long-term position in Germany with this. Furthermore, the company was able to welcome the employees of Van Triest in September, with which it has significantly strengthened the position in residual flows (moisture-rich by-products).
ForFarmers has also communicated sharpened sustainability ambitions towards 2030, in order to contribute to a future-proof agricultural sector, he says.
The total volume of product sold increased by 6,1% compared to the third quarter of 2023. The volume of compound feed increased by 2,8%. Turnover decreased by 4,5%, but this is entirely attributable to the decrease in raw material prices.
Operating profit rose strongly; gross by 48,9% and underlying by 28,2%.
Klaas van der Horst
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