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Bodegraaf cheese companies performed better in 2023
Three large Bodegraaf cheese companies recorded better results in 2023 than in 2022. Vergeer, VanderSterre and Maaz all saw their turnover increase, while the net result also improved. However, they did not all do equally well, as is evident from their annual reports.
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No separate results are known for Velder Kaas, also a large Bodegraaf trader, because this company is a subsidiary of FrieslandCampina and its performance is included in the total result of the group. The same applies to Noordhoek, which is part of A-ware.
Vergeer is growing outside the Netherlands
Vergeer Holland is the largest of the above-mentioned companies. In 2023, it achieved a turnover of almost €480 million, which is more than €9 million more than in 2022. The net result increased relatively much faster, because it went from €3,2 million to €8,3 million. Vergeer saw a strong increase in sales outside the Netherlands in particular.
From 2022 to 2023, Vergeer managed to significantly reduce the amount of trade receivables and thus also significantly reduce its own debt burden. As a result, equity also increased relatively. No figures for 2023 are yet known for Vergeer Holding.
More turnover and profit for Vandersterre
The Vandersterre Group achieved a turnover of almost €229 million, which is more than €21 million more than in 2022. Net profit increased from €2,1 million to €2,9 million, which is a relatively stronger improvement than that of turnover. Vandersterre also saw an opportunity to significantly strengthen its equity, to 33,9%.
Vandersterre is mainly active in the higher segment of cheeses. In 2020, it also acquired a stake in cheese alternative producer Willicroft. That stake was reduced from 2023% to 23% in 17. A similar movement can be seen at more cheese companies. Vegan 'cheese' is struggling to gain a larger market share.
MAAZ Cheese reports smaller loss
MAAZ Cheese, the cheese shop of the Zijerveld family, saw its turnover increase by almost a third in 2023, even though the company did not make any major acquisitions or the like. That is a solid performance. In the meantime, it also managed to improve its net result considerably, but not so much that it completely came out of the red. In 2022, MAAZ recorded a loss of €4,4 million, in 2023 this was reduced to around -€153.000. This was mainly due to a strong improvement in the gross margin. Inventories and receivables did increase. Short-term debts also increased and the liquidity position was also not very positive. MAAZ sold almost three quarters of its sales in the Netherlands and more than a quarter in the Netherlands itself.