ForFarmers N.V.: Trading update Q1 2025 - Positive trend continues
Lochem, 8 May 2025
Trading update Q1 2025
Positive trend continues with volume growth and strong profitability in Q1
Pieter Wolleswinkel, CEO ForFarmers: "We look back on a strong quarter in which we once again achieved growth in our compound feed volumes. This is in line with our ambition to retain customers for the long term and to continue growing our market share. Operational profitability also increased strongly, continuing the positive trend of the past year.
The integration of Van Triest's activities is progressing according to plan, resulting in a significant increase in our volume of co-products in line with our sustainability ambition. The German joint venture with team agrar started in the first quarter. In the United Kingdom, the sale of the second plant was completed in early April. I am proud of our people, who work day in, day out for a future-proof food system in Europe."
Highlights Q1 2025
- Total volume increased by 17.5% compared to Q1 2024, mainly driven by the acquisition of Van Triest Veevoeders. On a like-for-like basis, total volume increased by 1.3%.
- Compound feed volume was up 3.5%, partly driven by the consolidation of the joint venture in Germany as of 1 March. The like-for-like growth in compound feed volume was 1.1%.
- Turnover rose 9.1%, driven by volume growth. Gross profit rose by 11.2% to € 138.1 million.
- Operating profit increased sharply; underlying EBIT was up 61% and underlying EBITDA increased by 38.9%.
- The ROACE ratio1 on underlying EBIT increased from 13.0% as at 31 December 2024 to 13.8% as at 31 March 2025.
- The joint venture with team agrar in Germany started on 1 March.
- The approval of the United Kingdom competition authority has been obtained for the sale of the site in Burston. This transaction was completed at the beginning of April.
[1] ROACE means underlying EBIT of the last 12 months divided by the average capital employed over the same period
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Profile ForFarmers
ForFarmers N.V. (‘ForFarmers’) is a company offering complete feed solutions for (organic) livestock farming. With its mission statement “For the Future of Farming”, ForFarmers is committed to future-proof farming and making the agricultural sector even more sustainable. Our goal is clear: to contribute to good returns and a robust long-term earnings model. How? By leading the way with knowledge, advice, support and products on farm. Close to the farmers, solution-oriented and with an open mind to the future. The result: a contribution to affordable and sustainable food, For the Future of Farming.
With sales of around 9 million tonnes of animal feed, ForFarmers is a leading player in Europe. The company has production operations in the Netherlands (head office), Germany, Poland and the UK and exports to various countries within and outside Europe. ForFarmers has around 2,700 employees. ForFarmers N.V. is listed on Euronext Amsterdam.
Financial calendar
7 August 2025 Publication half year results 2025
6 November 2025 Publication trading update Q3 2025
FORWARD-LOOKING STATEMENTS
This document contains forward-looking statements that relate, among other things, to ForFarmers' regulatory capital and liquidity positions under certain specified scenarios. In addition, forward-looking statements may include, without limitation, statements containing words such as ''intends'', ''expects'', ''takes into account'', ''aims at'', ''has the plan'', ''estimates'' and words of similar purport. These statements concern or may affect future matters, such as ForFarmers' future financial results, business plans and current strategies. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results and performance to differ materially from the expected future results or performance implicitly or explicitly contained in forward-looking statements. Factors that may cause, or contribute to, differences in current expectations include, but are not limited to: developments in legislation, technology, taxation, case law and regulations, fluctuations in stock prices, legal proceedings, investigations by regulators, competitive conditions, and general economic conditions. These and other factors, risks and uncertainties that may affect any forward looking statement or the actual results of ForFarmers are discussed in the latest published annual report. The forward-looking statements contained in this document relate solely to statements as of the date of this document, and ForFarmers assumes no obligation or responsibility to update the forward-looking statements contained in this announcement, whether in connection with new information, future events or otherwise, unless ForFarmers is required by law to do so.
