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Exceptionally good result Fude + Serrahn
Dairy trader and producer Fude + Serrahn achieved an 'exceptionally good' result in 2023, which was more than 6,5 times higher than the previous year. Turnover was slightly lower, but this was more than compensated for on other fronts.
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This is evident from recently filed data. The management is very satisfied with the result achieved. The turnover of the Hamburg-based company fell from €1,559 billion to €1,446 billion. However, this did not affect the result. Gross profit rose from €45 million to €86 million, while net profit rose from €6,6 million to €45,5 million. In 2022 it was actually the other way around.
The much higher result was not all that was going well. The company also strengthened its equity from 27,4% to 42,7%. In round figures this means that equity increased by €40 million to almost €100 million.
Of the turnover of F+S, 73% is achieved in Germany itself. The remaining 27% is almost entirely accounted for by other EU countries. Calculated by production, the trade in and production of liquid dairy and butter accounts for 53% of the turnover. The remaining 47% is realised in solid dairy, in particular cheese and milk powders.
F+S is a large German butter producer and also produces a lot of fresh dairy and desserts for the German retail, mainly from Coesfeld. The company is also active in the production and trade of cheese.
Cooperative DMK will retain a 10% share in the company for the time being. Until 2021, this was 50%. F+S has always been one of the better performing subsidiaries of the dairy cooperative, but DMK has divested more interests in recent years. There is speculation that DMK will also have to divest its remaining interest in F+S if the expected merger with Arla is allowed to go ahead.