News Dairy
2021 was a little more difficult for Hoogwegt and Numidia
Dairy traders Hoogwegt and Numidia, the number 1 and 3 in size in the sector, had a slightly more difficult time last year than in 2020. One turnover fell, the other rose, but both reported lower results.
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Hoogwegt achieved a turnover of €2,7 billion last year. That is €89 million less than one year earlier. The net result fell from €26,8 million to €19,8 million. Numidia recorded a turnover of just €894 million, which is almost €178 million more than the previous year. Although the dairy trader saw its profit after tax deduction fall to €3,5 million. That was €8,2 million one year earlier. The operating result also fell, just like at Hoogwegt.
Why things became more difficult is not explained in the annual reports. Reference is made to logistical problems and volatile, unpredictable markets. Both companies sell most of their products in Europe, the Middle East and Africa. Hoogwegt saw turnover for this region drop by almost €200 million, to €1,5 billion. Numidia managed to increase sales to those regions by almost €140 million, to €592 million. Both parties managed to increase sales to and from Asia and America.
Bean Protein Company
Numidia is almost exclusively active in dairy, while Hoogwegt is also active in the market for vegetable raw materials with its subsidiary 'Meelunie'. Together with a Danish party, Hoogwegt has invested in 'Bean Protein Company'. This party extracts high-quality proteins from Fava beans (broad beans) using a completely new process. Hoogwegt hopes to benefit from the fast-growing market for plant-based ingredients.