News Annual figures
Dairy trader Geris sees profits double
Dairy trading company Geris from Nederweert, Limburg, can look back on a successful 2023. Although turnover decreased slightly, profits were well over. This is evident from figures recently filed with the Chamber of Commerce.
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The turnover of the company's umbrella group BV fell by just under 7% to €369 million last year, which appears to be largely a result of lower dairy prices that year. Geris, which has been around for almost fifteen years now, cannot yet compete with other large dairy trading companies such as Interfood and Hoogwegt, which are billion-dollar companies. Numidia's turnover is just touching that limit, while Farmel achieved more than €550 million in turnover in 2023. Melkweg's turnover is not available, because that company belongs to the Van Drie Group. And Fresena has not yet announced the figures for 2023.
Significantly more profit
Bottom line, profit at Geris rose by 129% to €7,1 million, much of which was paid out as dividend. Compared to turnover, this results in a net profit margin of 1,92%, which Geris, as a trading company, does not have to be ashamed of. Cash flow did deteriorate somewhat last year. In addition, the solvency of less than 25% cannot be called very strong.
In addition to the dairy trading company from Nederweert, the Geris Food Group also includes the Italian Cremo SRL and ZZA from Eindhoven, which focuses on premium mozzarella.