ForFarmers has reported a robust set of results for the first half of 2025, underscoring the success of its strategic initiatives and market consolidation efforts across Europe.
Total volume surged by 21.3% to 5.2 million tonnes compared to the same period in 2024, buoyed by the acquisition of Van Triest Veevoeders and the launch of a joint venture in Germany.
The animal feed company also reported impressive recovery in the UK following a completed reorganisation, as well as continued strong performance in Poland.
ForFarmers began production of organic animal feed at its new facility in Germany, aiming to meet rising demand for organic products.
Speaking on the results, Pieter Wolleswinkel, CEO of ForFarmers, said: "The strong development of our results over the past six months confirms that we are on the right track.
"With a focused execution of our strategy, we are maintaining and expanding our market positions."
He highlighted the significance of recent moves in Germany and the Netherlands, adding: "Thanks in part to the joint venture in Germany, launched in March, and the acquisition of Van Triest Veevoeders in September 2024, we are demonstrating robust volume growth.
"In the Netherlands, we are increasing our market share in a contracting market, which enables us to maintain volumes."
Financial and operational highlights
• Total volume increased by 21.3% year-on-year, with like-for-like growth of 2.4%.
• Compound feed volume rose by 5.4%, or 0.5% on a like-for-like basis.
• Gross profit climbed 16.8% to €290.8 million, with all regional clusters contributing.
• Underlying EBITDA and EBIT rose sharply by 42.7% and 57.7%, respectively.
• Underlying net profit attributable to shareholders increased by 46.3% to €23.4 million.
• Net cash flow from operating activities more than doubled to €63.8 million, enabling a reduction in net debt.
• Return on average capital employed (ROACE) on underlying EBIT improved to 14.3%, up from 10.7% a year earlier.
