Header horizon

Highlights for investors

Good positions in mature home markets, ambition to expand to new markets with growth potential

  • Unique access to farm gate as Total Feed solutions provider;
  • Strong market positions in majority of home markets;
  • Supporting farmers with good feed and good advice to optimise (technical) return on-farm with healthy animals and increasingly lower carbon footprint;
  • Ambitious sustainability agenda: Going Circular For the Future of Farming, with specific targets including in the field of reduction GHG emissions, better nitrogen and phosphate efficiency and use of renewable energy;
  • Strong position in formulation, innovation and digitalisation;
  • M&A: focus on consolidation in existing markets and leveraging synergies;
  • EU Green Deal offers opportunities but also threats;
  • Aim to create more balance in portfolio between mature markets and growth markets by expanding to carefully selected new growth market to be operational in 7 countries in total by 2025.

Financial profile

  • Strong balance sheet and solid recurring free cash flow;
  • Dividend distribution (40%-60% of underlying net profit);
  • Exposure to price fluctuation of global commodities (raw materials).