News Annual figures 2023
ForFarmers ends 2023 with a narrow loss
ForFarmers cannot close 2023 in the black, although this can partly be attributed to incidental costs. CEO Pieter Wolleswinkel speaks of a transition year and due to improved results in the second half of the year, he looks ahead with confidence.
The figures in brief: turnover fell by 2023% to €10,3 billion in 2,9. Below the line, the reported loss is €1 million. This does include incidental costs. The underlying net profit is €22,7 million, which is nevertheless almost a quarter lower than the previous financial year. The proposed dividend therefore drops from €0,20 to €0,15 per share.
The lower figures deserve a few nuances. After a difficult start, the results have shown an improvement since the second half of last year. This, in combination with lower raw material prices, has also greatly improved the cash flow. Wolleswinkel attributes this to supplying good feed at a competitive cost. In addition, ForFarmers is closer to the customer with the new local approach, he assures. Sales volumes have not fallen further since the summer.
In 2023, ForFarmers sold the activities in Belgium. On the other hand, an acquisition was made in Poland. Last year, 130 jobs were also cut, mainly in management. With these steps, ForFarmers believes it will be better positioned for 2024.
Read here the interview with CEO Pieter Wolleswinkel, following the published annual figures.
Wouter Job
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