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A-ware has a significantly higher turnover, but earns less

30 April 2025 - Klaas van der Horst

Dairy and transport company Royal A-ware achieved a turnover of €3,8 billion last year, which is 16,4% more than in 2023. This is partly due to higher milk prices. Net profit fell in the meantime, partly due to the volatility in the dairy market.

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Nevertheless, A-ware is satisfied with the results achieved in 2024, a spokesperson for the company says. The company is also proud that it is the first in the Dutch dairy sector to be able to submit a sustainable annual report that is in accordance with the European CSRD directive and that has also been approved as such.

Of the total turnover, approximately €3,3 billion comes from dairy activities and approximately €400 million from transport (AB Texel). The remainder comes from automotive activities, among other things. The net profit fell from €82 million in 2023 to €65 million in 2024. That represents almost 2% of the turnover. The lower result is the result of various causes. The first is the increased volatility in the dairy market, which made it more difficult to secure a good margin. However, there was more at play. For example, several new projects were started, which also involved additional costs.

Solid war chest
However, the balance sheet increased significantly due to the commissioning of new installations and factories, by €468 million to almost €2 billion. Last year, €108 million in new investments were made, €23 million more than in 2023. Due to all expenses and lower profits, solvency fell from 29,9% to 24,1% due to balance sheet extension. At the end of last year, A-ware agreed with a banking consortium on refinancing for approximately €1 billion, which gives the company a solid war chest, according to a spokesperson. The company does not make any statements about concrete ambitions. Last year, 54% of the turnover came from the Netherlands and 42% from other countries within the EU. Belgium is considered the second home market, while there are also extensive activities in Ireland, Spain and Italy.

Successful emission reduction
The annual report also provides extensive coverage of sustainability efforts. A striking detail is the reporting on the reduction of farm emissions (scope 3). A-ware has set itself the goal of reducing CO2 emissions by 2030% by 51,6 (compared to 2019). To achieve that goal, it only has 8,9 percentage points to go, because a 42,7% reduction has already been achieved. With scope 1 and -2 emissions, a greater effort needs to be made, but that is also due to the company's continued growth.
The development of the milk pool is currently going well. Last year, the company's 1.500-plus suppliers supplied 2,8 billion kilos of milk. The milk price (actual price) last year averaged €52,33 per 100 kilos. 

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