ForFarmers continues to present strong results. In the first quarter, sales volumes and profit increased further, thanks to acquisitions. The company also reports that it can continue to offer feed at competitive prices, despite higher costs for raw materials and energy due to tensions in the Middle East.
Total feed volume increased by 9,3% to 2,7 million tonnes. The increase is largely due to the consolidation of the joint venture with Team Agrar in Germany. On an autonomous basis, sales contracted by 0,5%.
The volume of compound feed sold increased by 4,1% to 1,6 million tonnes, but decreased by 1,1% on an autonomous basis. ForFarmers itself speaks of more or less stable autonomous sales figures, despite the impact of the cessation schemes on the Dutch domestic market last year.
Profitability higher again
What further stands out in the figures is the rise in profitability, which was already high last year and resulted in a record profit. In the first quarter, EBITDA rose by 49% to €41,1 million. About all of 2025 EBITDA amounted to €145,9 million. On an organic basis, EBITDA increased, although this is not further specified.
CEO Pieter Wolleswinkel speaks of an 'once again strong quarter', partly thanks to acquisitions. In addition to the consolidation of Team Agrar, the results of Beukelaar Diervoeders have also been included. Furthermore, ForFarmers indicates that it is on track to complete the joint venture with KPS in Poland in the third quarter. Shareholders recently approved the deal. Approval from the Polish competition authorities is now awaited.
Stock price under pressure after rebound
According to Wolleswinkel, geopolitical tensions are causing higher prices for feed raw materials and energy. "But thanks to targeted risk management, we can continue to offer our feed at competitive prices."
ForFarmers' share price has been under pressure in recent weeks, following a rebound in the first quarter. This trend continues even after the presentation of the quarterly figures. Half an hour after the stock market opened, the share was trading at €5,81.