ForFarmers has also shown a recovery of results in the third quarter of this year. The revenue decreased, but the operating result increased, while more feed was also sold.
CEO Pieter Wolleswinkel is therefore satisfied: "The strong trend of the first half-year continues in the third quarter as well. We see our ambition to continue gaining market share reflected in the nice volume growth of 6%. The operational profitability has once again significantly improved."
It is not only the results from regular operations that are satisfying, Wolleswinkel also points out that the company took "more strategic steps in the past quarter," such as announcing the joint venture with team agrar. According to him, this lays the foundation for a solid long-term position in Germany for ForFarmers. Furthermore, the company welcomed the employees of Van Triest in September, thereby significantly strengthening its position in residual streams (moist by-products).
ForFarmers has also communicated sharpened sustainability ambitions towards 2030, in order to contribute to a future-proof agricultural sector, he states.
The total volume of products sold increased by 6.1% compared to the third quarter of 2023. The feed volume increased by 2.8%. The revenue decreased by 4.5%, but this can be fully attributed to the decline in raw material prices.
The operating profit increased significantly; gross by 48.9% and underlying by 28.2%.