FrieslandCampina's results in Nigeria show clear progress this year. The dairy cooperative achieved particularly strong results in the third quarter.
Nigerian FrieslandCampina Wamco, a nearly 68% subsidiary of FrieslandCampina, achieved revenues of nearly 160 billion Nigerian Naira in the third quarter. Converted to euros, this equates to €94 million. This results in a pre-tax profit of €5,9 million. Compared to the same period last year, profit increased almost tenfold.
Revenue for the first three quarters amounted to €275 million and a profit of €9,6 million. This means that more than half of the profit was recorded in the third quarter. For the full year 2024, the company posted a loss of approximately €450.000.
A brief explanation of the figures indicates volume growth and higher sales prices. Recent cost savings and improvements in the ordering process are also paying off.
Pakistan
FrieslandCampina's subsidiary in Pakistan is also performing better than last year. In the third quarter of this year, pre-tax profit also amounted to the equivalent of €5,9 million.