Better result Cono, but less milk and power

This is evident from the Cono cooperative's annual report. Total turnover reached €339 million, €20 million more than the previous year. Outside the Netherlands, sales in the EU increased by €3 million to €93 million, while outside the EU sales decreased by €3,5 million to over €15 million.

Cono sold more, but with less milk. In 2023, 439 million kilos were received, compared to 2024 million in 419, a decrease of 5%. In April of this year, another 50 million kilos were sold, but this figure is not included in the 2024 annual report. According to Cono, the departure of members was offset by the influx of new members.

The higher revenue also resulted in a higher net profit: €8,3 million compared to €3,13 million a year earlier. A proper comparison with previous years' performance has become somewhat more difficult, however, because Cono has also been revaluing its inventory in recent years, something it didn't do previously. The revaluation effect for 2024 appears to be €1,7 million, but this amount also includes a provision.

Cono also allocated funds for investments last year. For example, several million euros were allocated last year for a more robust power connection. More funding will be needed in the coming years. Cono has signed a financing agreement with Orchard Finance in Maarssen for this purpose.

Cono also acquired a 6,2% stake in the start-up Ikwileerlijkezuivel, which operates the De Vechtstreek factory in Ommen. This factory was purchased from Ausnutria, but was previously owned by Cono. This stake represents a value of €350.000.

Although Cono's results increased, equity decreased from 55% to 52% (although in absolute terms it still increased slightly).