Lower March Milcobel price and better result for 2024

There may be some improvement in the payout price towards the second quarter, according to Milcobel, but management still thinks it is 'hard to predict'. 

By reducing the standard milk price by €1,00, the milk price at real levels according to the Belgian Milk Price Comparator van Boerenbusiness out at €50,91 per 100 litres. This puts Milcobel at the bottom of the payout range for March.

Almost simultaneously with the announcement of the milk price for March, Milcobel also reports the first results for the 2024 financial year. These are better than those for 2023, when Milcobel ended up well in the red. The turnover over the past year remained virtually stable at €1,3 billion. This still includes Ysco. The subsidiary is sold to hedge fund Davidson Kempner which it places under Gelato d'Italia. 

The pre-tax result of €4,1 million positive was a lot better than the €10,5 million negative that was booked in 2023, thanks in part to better results in premium ingredients and improvement of business processes, it is reported. Nothing is said about the net profit and a possible additional payment.

The volume of milk processed decreased from 1,3 billion to 1,2 billion kilos, which is a slight decrease. The volume of milk from our own members is however considerably lower, as was reported at the end of last year when announcing the plan to merge with FrieslandCampina. 

At that time, there was talk of approximately 900 million kilos of member milk. On that occasion, it was also reported that at least part of the capital that the Milcobel members have in the cooperative is being used to help pay for the purchase of FrieslandCampina delivery certificates. 
The full 2024 annual accounts will be published at the Milcobel members' meeting on 17 June.