Highlights for investors

Resilient in challenging home countries, expanding to new markets

• Operational excellence and commercial savviness
• Unique access to farm gate as Total Feed solutions provider
• Helping farmers cope with new reality with superior knowledge
• Going Circular For the Future of Farming
• M&A: consolidate in existing markets & enter carefully selected growth markets to become operational in 7 countries
• Focus on efficient operations supported by digitalisation and business process optimisation

Financial profile

• Exposure to global commodities (raw materials)
• Strong balance sheet (solvency around 50%) and substantial recurring free cash flow (~€50m)
• Dividend distribution (40% - 60% of underlying net profit)