Feed giant ForFarmers posts sharp gains in sales volumes in first half of 2025

NETHERLANDS – ForFarmers N.V. delivered a robust performance in the first half of fiscal 2025, reporting double-digit growth in volumes, revenue, and profitability, driven by strategic acquisitions, market share gains, and cost control measures.

The Dutch-based animal feed company saw total feed volumes climb 21.3% to 5.19 million tonnes, up from 4.27 million tonnes in the same period last year, largely due to the September 2024 acquisition of Van Triest Veevoeders and the March 2025 consolidation of its German joint venture with Team Agrar. 

On a like-for-like basis, volumes rose 2.4%. Compound feed volumes grew 5.4% to 3.16 million tonnes.

Gross profit increased 16.8% to €290.8 million (US$338.3 million), with all regional clusters contributing to the rise.

Revenue reached €1.57 billion (US$1.83 billion), up 16% from the prior year, while underlying EBITDA surged 42.7% to €60.8 million (US$70.7 million) and EBIT jumped 57.7% to €35.8 million (US$41.6 million).

Net profit attributable to shareholders rose 46.3% to €23.4 million (US$27.2 million).

“The strong development of our results over the past six months confirms that we are on the right track,” said CEO Pieter Wolleswinkel. “With a focused execution of our strategy, we are maintaining and expanding our market positions.”

Regional and operational highlights

In the Netherlands and Belgium, volumes rose 20.4% as ForFarmers offset the impact of livestock buy-out schemes, particularly in the pig sector, by gaining market share across all species. Gross profit in the region increased 13.5% to €137.7 million (US$160.2 million).

Germany and Poland posted significant gains, with volumes up 38.7% following the joint venture consolidation. 

Poland delivered strong results despite bird flu challenges, supported by capacity expansion. Gross profit for the cluster jumped 32.4% to €83 million (US$96.6 million).

The United Kingdom recorded a 6.5% volume increase, strong ruminant sector performance, and markedly improved profitability following a completed reorganisation. EBIT soared 196.4% to €8.3 million (US$9.64 million).

Sustainability and strategic investments

ForFarmers advanced its sustainability agenda, focusing on reducing CO₂ emissions, enhancing circularity, and protecting biodiversity. Measures included switching trucks in the UK to HVO (vegetable) fuel, scaling up co-generation in Poland, and investing in factory upgrades to process more co-products such as crisps and dairy streams. The company also integrated Van Triest and CirQlar operations to improve access to co-products for customers.

A solar energy system was installed at the Newcastle-under-Lyme site in the UK in January. ForFarmers also continued to ensure the responsible sourcing of raw materials, particularly soy, in line with EU deforestation-free regulations.

Strengthened financial position

Operating cash flow more than doubled to €63.8 million (US$74.1 million), enabling the company to cut net debt to €43.5 million (US$50.5 million) from €56.8 million (US$65.9 million) at year-end 2024.

In May 2025, ForFarmers secured a new €150 million (US$174.1 million) credit facility and a €125 million (US$145.1 million) working capital facility from an international banking syndicate. 

The financing terms are tied to sustainability performance metrics on CO₂ reduction and circular raw material use, with potential interest rate adjustments based on results.

“Sustainability is an integral part of our strategy,” said CFO Marloes Roetgerink. “Linking our sustainability ambitions to the new credit facility underscores our commitment to a future-proof food system.”

Leadership transition

In other news, the company announced that Supervisory Board member Erwin Wunnekink will step down on 1 November 2025 to pursue a new professional opportunity. 

Chair Marijke Folkers – In ’t Hout expressed gratitude for his “commitment, knowledge and passion” over the years.

With operations in the Netherlands, Germany, Poland, and the UK, and exports to multiple markets, ForFarmers produces around 10 million tonnes of feed annually and employs approximately 2,900 people.

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