TopigsNorsvin owes extra profit to TN70 sow

TopigsNorsvin's results show an upward trend. For example, the operating profit for 2017 increased by 140% to €9,4 million, of which €5 million remains at the bottom of the line.

The cooperative says the higher profit is due to the new sow line (TN70 sow). As a result of an increasing number of sows sold, TopigsNorsvin's turnover increased by €20 million to €139 million. In their own words, the TN70 sow is well liked by pig farmers. For example, TopigsNorsvin recently concluded a deal with the Russian pig integration Cherkizovo.

Win for the second year in a row 
Sales of terminal boar genetics were also on the rise last year; globally, sales increased by 21%. Thanks to the green numbers, the solvency ratio (ratio of debt versus equity) increases by 8 percentage points to 48%. It is not a given that TopigsNorsvin writes green figures. In 2015, the cooperative booked another loss of millions.

No dividend 
TopigsNorsvin does not pay a dividend. The money earned goes back to the organization and is used for research and development. However, since last year the members of the cooperative have been able to build up capital through the 'Capital in name' program. Until now, the certificates concerned are neither tradable nor exchangeable. It is likely that this will happen in the future.

Wouter Job

Wouter Baan is editor-in-chief of Boerenbusiness. He also focuses on dairy, pig and meat markets. He also follows (business) developments within agribusiness and interviews CEOs and policymakers.

w.baan@boerenbusiness. Nl

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