Lochem, 22 February 2024
ForFarmers 2023 results - Implementation of 'Local in the lead' bears fruit
Pieter Wolleswinkel, CEO of ForFarmers: "2023 was a year of transition for
ForFarmers in which we achieved an improvement of our results in the second
half. The implementation of our strategy, of being even closer to our farmers
with a local market approach, is bearing fruit. We are in a strong position to
keep on delivering on our promise to our customers: to provide high-quality feed
at a competitive price. The acquisition of Piast in growth market Poland is also
an important step in the implementation of our strategy. Not only will this
enable us to produce more efficiently but the geographical spread also provides
good commercial opportunities. Furthermore in October 2023 we sold our Belgian
compound feed activities in view of their limited market perspective for
ForFarmers.
It is our conviction that livestock farming plays an essential role in
safeguarding affordable and sustainable food. We will therefore continue to
invest in sustainable solutions such as innovative feed concepts, for example to
increase the proportion of co-products in our feed solutions. These are
challenging times for many farmers. We look forward to continuing to work on
solutions that contribute towards a profitable futureproof farming business,
thus putting our mission For the Future of Farming into practice. For
ForFarmers, 2023 was a year of both challenges and progress, and the latter
fills me with confidence for the future. I am convinced that with our people and
our strategy we are on the right track."
Read the full press release in the attached document (see below).
Note to the editor / For additional information:
Marieke Leussink, Manager External Communication M: +31 6 12 56 74 95
E: marieke.leussink@forfarmers.eu (mailto:marieke.leussink@forfarmers.eu )
Company profile
ForFarmers N.V. ('ForFarmers') offers complete feed solutions to the (organic)
livestock farming industry. With its mission "For the Future of Farming",
ForFarmers is committed to a future-proof farming business and making the
agricultural sector more sustainable. Our goal is clear: to contribute to a good
return and a robust long-term business model. How? By leading the way with
knowledge, advice, support and products on the farm. Close to the farmers,
solution-oriented and with an open view of the future. The result: a
contribution to affordable and sustainable food, For the Future of Farming.
With sales of approximately 8.4 million tonnes of feed, ForFarmers is a leading
player in Europe. The company has production operations in the Netherlands (head
office), Germany, Poland and the United Kingdom, and exports to various
countries within and outside Europe. ForFarmers has around 2,400 employees and
generated revenue of approximately EUR3 billion in 2023. ForFarmers N.V. is listed
on Euronext Amsterdam.
Check Imagery | ForFarmers Group - Global
(https://www.forfarmersgroup.eu/en/media/imagery.aspx) for ForFarmers imagery
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements, including those relating
to ForFarmers legal obligations in terms of capital and liquidity positions in
certain specified scenarios. In addition, forward-looking statements, without
limitation, may include such phrases as "intends to", "expects", "takes into
account", "is aimed at ", ''plans to", "estimated" and words with a similar
meaning. These statements pertain to or may affect matters in the future, such
as ForFarmers future financial results, business plans and current strategies.
Forward-looking statements are subject to a number of risks and uncertainties,
which may mean that there could be material differences between actual results
and performance and expected future results or performances that are implicitly
or explicitly included in the forward-looking statements. Factors that may
result in variations on the current expectations or may contribute to the same
include but are not limited to: developments in legislation, technology,
jurisprudence and regulations, share price fluctuations, legal procedures,
investigations by regulatory bodies, the competitive landscape and general
economic conditions. These and other factors, risks and uncertainties that may
affect any forward-looking statements or the actual results of ForFarmers, are
discussed in the last published annual report. The forward-looking statements in
this press release are only statements as of the date of this document and
ForFarmers accepts no obligation or responsibility with respect to any changes
made to the forward-looking statements contained in this document, regardless of
whether these pertain to new information, future events or otherwise, unless
ForFarmers is legally obliged to do so.
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