News Annual figures
Hochwald makes more profit and promises a better milk price
The German dairy cooperative Hochwald achieved considerably more turnover in 2022 than the year before. Profits are also rising. The milk price in 2022 was just below the long-term average, but this will be different this year, the dairy cooperative promises its members.
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Thanks to the sharply increased prices of dairy products, turnover increased by just under 25% to a record of €1.974 billion. The underlying Ebita increased by just €20 million to €127,4 million. The dairy factory in Mechernich was put into operation during the financial year. The investment amount therefore increased to €187,5 million. The takeover of dairy brand Tuffi, which Hochwald Foods bought from competitor Theo Müller - who in turn bought it from FrieslandCampina - will not be recorded until 2023.
Last year, the members of the cooperative achieved an average milk price of €53,1 per 100 kilos, calculated based on the standard contents in Germany. This is €0,01 below the national average. This means that Hochwald's milk price is lagging behind for the second year in a row. This takes some getting used to for members who are traditionally used to receiving an above-average milk price. However, improvement appears to be on the way, as the cooperative indicates that it expects to pay an above-average milk price in 2023. Sales are likely to move downward this year, in line with falling dairy commodity prices.