News Annual figures 2023
More turnover but less profit for Compaxo
Compaxo achieved significantly more turnover last year than in 2022, according to the group result that was recently filed with the Chamber of Commerce. Bottom line, profits shrank considerably.
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Due to higher meat prices, turnover increased by 24,5% last year to €591,6 million. Approximately €130 million of this is achieved through the sale of meat products, the rest comes from the sale of meat parts. It can be concluded that 12% results from sales to countries outside Europe. Bottom line, profit shows a sharp decline of just under 50% to €4,03 million. This results in a net profit margin of 0,69%.
Solvency did decrease, but can still be considered solid at 42%. However, two years ago this figure was still more than 60%, but today there are more loans with credit institutions. This is probably a result of the increased costs in the chain. The annual report also notes that Compaxo received a hefty fine from the NVWA in 2023 of almost €500.000.
Growth through acquisitions
In the meantime, Compaxo is not sitting still. For example, Maasland meat products was acquired in 2023. It was announced at the end of last year that the slaughter activities of Pali Group in Geldrop had been taken over. This deal has now also been effectuated.