Solid development of volume and operating result in first half of 2015

Over the first six months of 2015 ForFarmers realised an operating result (excluding incidental items) of € 32.6 million. This resulted in an increase of 8.7% compared to 2014. Revenue over the first six months of 2015 declined, compared to the 2014 financial year, by 1.2%. This decrease is mainly the result of declined raw material prices. Over the first six months of 2015 ForFarmers realised a gross profit increase of 10.2%. This growth is mainly realised by the application of the nutritional knowledge including a better product mix and more specialties.

Key points first six months 2015

• Volume increased slightly by 3.0% to 4.5 million tonnes. Excluding acquisitions, volume remained flat.
• Despite acquisitions and positive currency effects declining raw material prices resulted in a decrease in revenue of 1.2%.
• Gross profit increased by 10.2% compared to the first half of 2014; all clusters contributed to this increase.
• Operating result (excluding incidental items) increased by 8.7% to € 32.6 million compared to € 30.0 million in the first half of 2014.
• Progress with implementation of strategy Horizon 2020 and standardisation to One ForFarmers is on schedule. Rebranding to the ForFarmers brand completed.
• Further expansion in the United Kingdom realised with the acquisition of the feed business of Countrywide in May 2015.

See the press release.

See the presentation.