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Vreugdenhil Dairy Foods had a difficult 2023
The Vreugdenhil Group (the parent company of Vreugdenhil Dairy Foods) had a difficult 2023, with significantly lower turnover and red figures for the first time in many years, according to the group's annual report.
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The 2024 financial year has again gone much better, according to CEO Albert de Groot in a recent interview. Yield and profit are now almost back to normal, he said.
The annual report for 2024 will take some time. The one for 2023 was only recently filed. It shows that the group's turnover in that reporting year fell by almost 22% to €1,03 billion (-€272 million). The profit, which amounted to almost €2022 million in 35, turned into a loss of almost €15 million. According to De Groot, this sharp decline in results was the result of a negative combination of circumstances, including a fire in the factory in Putten.
Group equity suffered the same decline as operating profit. The company's solvency remained above 50%. The aim for the coming years is to keep it that way.
More milk processed
Although turnover decreased, the processed volume of milk increased from 1,4 to 1,5 billion kilos, the report states. About half of this volume came from the 860 dairy farmers. The other part often comes in as a partially processed product.
In 2023, 42% of Vreugdenhil's sales went to customers in the Netherlands. Another 16% went to destinations in the EU. This was followed by customers in Asia and America. Sales to Africa halved compared to 2022.