Animal feed company De Heus can look back on an excellent 2024. Although turnover fell slightly, net profit improved strongly and rose by more than a quarter to a new record. It is striking that the importance of the European market to the total has increased, as has the sharp drop in turnover in Asia.
This is evident from the annual accounts filed with the Chamber of Commerce. In 2023, De Heus already booked a record profit of €157 million. Last year, the bottom line earnings shot up to more than €207 million, or an increase of more than 30%. Turnover fell from €6,4 billion to €5,9 billion, mainly as a result of lower raw material prices.
With a net profit margin of 3,45%, De Heus certainly has nothing to be ashamed of, operating in a sector known for high turnover and low returns. The balance sheet is also strong with a solvency of 54,8% and also higher than the previous financial year. The dividend paid out amounts to more than €38 million.
Growth in Africa, shrinkage in Asia
De Heus does not publish volume figures, but it does publish turnover figures per continent. These show that Europe is still by far the most important region with a turnover of €3,33 billion, which amounts to 55%. In 2023, European turnover accounted for 53%. It is striking that turnover in Asia fell by around 15% to €1,86 billion. Turnover in Africa grew by just under 5% to €477 million.
In the past, De Heus achieved approximately one third of its turnover in the Netherlands, but this has probably decreased in recent years. Due to the termination scheme, sales volumes on the domestic market will come under further pressure this year. However, De Heus did take a step into the broiler (feed) market at the beginning of this year by Kessels Holding to take over.
New CEO
Last financial year was the last under the leadership of Koen and Co De Heus. The animal feed company has changed its management structure from 2025 with Gabor Fluit as CEO. The two brothers are now joint chairman of a newly formed board of directors.