Forfarmers Nv · EURONEXT:FFARM
Forfarmers Nv — H1 2025 Earnings Presentation
21 slides from Forfarmers Nv's earnings presentation, Aug 7, 2025
Slide 1: Half year results 2025
FORFARMERS Half year results 2025
Slide 2: Notifications and Disclaimer
NOTIFICATIONS AND DISCLAIMER Reporting standards Important dates Forward-looking statements The results in this presentation are derived This presentation contains forward-looking statements, including those relating to ForFarmers legal from the ForFarmers interim 2025 financial 06-11-2025 Q3 2025 t
Slide 3: Agenda
AGENDA Key events H1 2025 • Pieter Wolleswinkel, CEO Financial results H1 2025 • Marloes Roetgerink, CFO Management agenda 2025 • Pieter Wolleswinkel Questions
Slide 4: Further strengthening of market positions
FURTHER STRENGTHENING OF MARKET POSITIONS • With a focused execution of our strategy, we are maintaining and expanding our market positions • Local, customer-centric approach combined with strong technical results with our feed • We gain market share in all clusters • In the Netherlands we see the i
Slide 5: Volume rises to 5.2 million tonnes, profitability remains strong
VOLUME RISES TO 5.2 MILLION TONNES, PROFITABILITY REMAINS STRONG • Total volumes +21.3%; compound feed volumes +5.4% • Acquisition Van Triest and consolidation JV in Germany • On a like-for-like basis volumes also increase (+2.4% total feed and +0.5% compound feed) • Gross profit: up 16.8%, both due
Slide 6: Important steps in the implementation of our sustainability agenda
IMPORTANT STEPS IN THE IMPLEMENTATION OF OUR SUSTAINABILITY AGENDA CO2 reduction • Scope 1 & 2 • First trucks switched to HVO (vegetable) fuel in the UK • In Poland, further scaling up of co-generation and shifting to gas • Scope 3 • Focus on feed with lower CO2 emissions that also contributes to lo
Slide 7: Operational and financial developments: Netherlands/Belgium
OPERATIONAL AND FINANCIAL DEVELOPMENTS H1 H1 NETHERLANDS/BELGIUM (Underlying. in €m) 2025 2024 Δ% Δ l-f-l Total volume (in kT) 2,394 1,989 20.4% 1.6% • Volume up 20.4% Gross profit 137.7 121.3 13.5% 5.4% • Mainly as a result of the acquisition of Van Triest Operating expenses 121.0 104.5 15.8% 3.5%
Slide 8: Joint venture in Germany
JOINT VENTURE IN GERMANY Joint venture with team agrar started on 1 March • Both the compound feed activities of ForFarmers and team agrar have been contributed as part of the joint venture • ForFarmers and team agrar already worked together in the HaBeMa joint venture • HaBeMa is also part of the n
Slide 9: Operational and financial developments: Germany/Poland
OPERATIONAL AND FINANCIAL DEVELOPMENTS H1 H1 GERMANY/POLAND (Underlying. in €m) 2025 2024 Δ% Δ l-f-l Total volume (in kT) 1,539 1,109 38.7% -0.8% • Significant increase in volumes due to consolidation of joint venture Gross profit 83.0 62.7 32.4% 2.8% • Poland shows an increase in volumes Operating
Slide 10: Operational and financial developments: United Kingdom
OPERATIONAL AND FINANCIAL DEVELOPMENTS H1 H1 UNITED KINGDOM (Underlying. in €m) 2025 2024 Δ% Δ l-f-l Total volume (in kT) 1,253 1,176 6.5% 6.5% • Good increase in volumes Gross profit 69.9 64.7 8.0% 6.5% • Strong performance within ruminant segment Operating expenses 61.8 62.0 -0.3% -1.8% • With the
Slide 11: Agenda
AGENDA Key events H1 2025 • Pieter Wolleswinkel, CEO Financial results H1 2025 • Marloes Roetgerink, CFO Management agenda 2025 • Pieter Wolleswinkel Questions
Slide 12: Significant increase in volumes, strong profitability
SIGNIFICANT INCREASE IN VOLUMES, STRONG PROFITABILITY (in €m, unless indicated otherwise) H1 2025 H1 2024 Δ% Δ l-f-l Comments Increased mainly due to the acquisition of Van Triest and Total volume (in mT) 5,186 4,274 21.3% 2.4% consolidation of the German joint venture; All clusters contribute to vo
Slide 13: Strong improvement profit in H1 2025
STRONG IMPROVEMENT PROFIT IN H1 2025 (in €m, unless indicated otherwise) H1 2025 H1 2024 Comments Underlying EBIT 35.8 22.7 Underlying net financing result -4.4 -3.7 In H1 2024, this mainly concerned the result of HaBeMa, which has been Share of profit of equity-accounted investees, net of tax 0.2 2
Slide 14: Limited impact one-off items and other APMs
LIMITED IMPACT ONE-OFF ITEMS AND OTHER APM’S (In €m) H1 2025 H1 2024 Comments One-off and other APM items in: In H1 2025 (non-cash) gain HaBeMa, gain sale UK plant, In H1 2024 gain in Other operating income 7.7 3.8 relation to Piast acquisition Operating expenses -0.6 -2.6 M&A and other costs, in H1
Slide 15: Balance sheet gives room for growth, including M&A
BALANCE SHEET GIVES ROOM FOR GROWTH, INCLUDING M&A (in €m, unless indicated otherwise) 30-6-2025 31-12-2024 Comments Total Assets 1,049.4 942.1 Consolidation JV Germany As a result of consolidation JV Germany and profit contribution, Equity 406.3 338.3 partly off-set by dividend distribution in H1 S
Slide 16: Strong improvement operational cash flow, significant reduction net debt
STRONG IMPROVEMENT OPERATIONAL CASH FLOW, SIGNIFICANT REDUCTION NET DEBT (in €m) H1 2025 H1 2024 Comments From operating activities 63.8 25.5 From investing activities -10.2 -39.2 Decrease mainly as a result of the acquisitions in the previous year From financing activities -29.2 -20.8 Increase main
Slide 17: Impact consolidation JV Germany on financial position and results
IMPACT CONSOLIDATION JV GERMANY ON FINANCIAL POSITION AND RESULTS Full consolidation joint venture: • 100% compound feed team agrar and 100% HaBeMa (in which ForFarmers previously held a 50% stake, accounted for under the equity method) • Contribution from March 1 to June 30, 2025: revenue €137.8 mi
Slide 18: Agenda
AGENDA Key events H1 2025 • Pieter Wolleswinkel, CEO Financial results H1 2025 • Marloes Roetgerink, CFO Management agenda 2025 • Pieter Wolleswinkel Questions
Slide 19: Management agenda 2025
MANAGEMENT AGENDA 2025 • Full focus on the ambition to continue to gain market share, especially in challenging markets • Continued capacity expansion in Poland • Further implementation of ForFarmers team agrar joint venture in Germany • Strengthening Reudink's organic feed position in Germany • Con
Slide 20: Agenda
AGENDA Key events H1 2025 • Pieter Wolleswinkel, CEO Financial results H1 2025 • Marloes Roetgerink, CFO Management agenda 2025 • Pieter Wolleswinkel Questions
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