ForFarmers: Improvement of result mainly due to One ForFarmers efficiency programme

Highlights 2016*

• Volume Total Feed: 2.5% increase to 9.3 million tonnes, driven by growth in clusters the Netherlands and Germany/Belgium;
• Net revenue: 6.0% decline to €2,109.0 million, mainly due to decreasing raw material prices, which are passed on, and translation effect of lower Pound sterling, partly compensated by acquisitions;
• Gross profit mainly influenced by negative translation effect; excluding currency impact stable development;
• Underlying EBITDA: 3.5% growth, due to cost efficiency program One ForFarmers and acquisitions, partly off-set by currency impact;
  at constant currencies underlying EBITDA grew by 7.2%;
• Listing on Euronext Amsterdam successful; increase in trading volume;
• Acquisition of Vleuten-Steijn strengthens position in swine sector in the Netherlands and Germany.

(*) Results 2016 are compared to results 2015

Yoram Knoop, CEO ForFarmers:
‘This year has been a strong and unique one. Strong, because we focused our Total Feed approach with integrated feed solutions (feed, advice, and tools) on improving returns on farm. During times in which our customers are faced with continuous complexity and challenges, this has borne its fruit. Unique, by bringing ForFarmers to the stock exchange, with overwhelming support from the members of the Coöperatie FromFarmers (FromFarmers Cooperative). The Horizon 2020 strategy, with which we have made progress in all areas, has clearly made a contribution to our good results.