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DeltaMilk sees turnover and profit decline in 2023
Cooperative DeltaMilk, owner of the De Graafstroom cheese factory, achieved an almost 9% lower turnover last year and also achieved a lower result than the year before. However, a higher profit distribution was made.
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This is evident from the filed annual report. Turnover fell by 8,7%, from almost €299 million to just under €265 million. This is mainly due to lower milk and dairy prices in 2023 than in 2022. Gross profit fell from €4,5 million to €3,0 million and net profit fell from €2,4 million to €1,3 million.
Power amplified
However, a higher payment was made to members last year than the year before: €2,38 million instead of €0,9 million.
The annual report makes no statements about the number of members and the size of the milk supply.
What is striking is that the cooperative has taken significant steps to strengthen its assets. The guaranteed capital went from 35% to 44% in one year. The share of equity in particular was significantly increased. The share of subordinated assets (mainly loans from members) remained roughly stable.
Sales even more Dutch
Another striking thing is that the percentage of sales outside the Netherlands continued to decline from 3,3% to only 2,19%. The vast majority of the cheese was sold to companies on the Dutch market.
De Graafstroom produces almost exclusively naturally ripened cheese, although the company can also produce foil cheese. A small part of the cheese is sold under its own brand.