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Agrifirm publishes 2020 Annual Report

Agrifirm published the annual report 2020.

The 2020 results of the Royal Agrifirm Group show the cooperative will pay approximately € 27 million from its result over 2020. This will be distributed amongst approximately 10,000 members of Coöperatie Koninklijke Agrifirm. “It was an exceptional year for our members, customers and employees, in which we amply exceeded our targeted financial objectives,” says CEO Dick Hordijk.

Figures

“Following a challenging 2019, the 2020 plan focused on the recovery of result. The recovery primarily was due to the Dutch feed company. Furthermore there was a significant growth in Welkoop revenue. Globally the product introductions on the Chinese market and the further strengthening of the Agrimprove product portfolio contributed to the result,” Hordijk continues.“Agrifirm had an excellent financial position in 2020.” The solvency exceeded 56 percent. The operating cash flow was € 56.7 million.

Sustainability

Net profit amounted to € 39.8 million compared to € 17.2 million in 2019. “It is a great result of which I am tremendously proud,” says Hordijk. “The impact of the COVID-19 pandemic was perceptible in most sectors. Unfortunately, animal diseases once again also played a major role at our members and customers. In particular bird flu in the Netherlands and swine fever in various countries such as Poland and China.”

Agrifirm drew further attention to sustainability and corporate social responsibility worldwide. “In China we engaged stakeholders in discussions about sustainability on the market. We also held discussions within the chain in Poland and Brazil about key sustainability issues in these countries,” explained Hordijk.

Acquisitions

In addition to organic growth in 2020, Agrifirm also benefited from the positive effects of its 2019 acquisitions. “Thanks to various acquisitions in 2019, we were able to further strengthen our customer orientation and better respond to global changes with a more elaborate portfolio.”

In 2020, Quartes, the acquired Belgian compound feed company, was integrated into Agrifirm Belgium. Furthermore, the Belgian company Premix Inve Export was acquired. This company specialises in the export of piglet feed concentrates to Asia. “This acquisition contributes to our position as one of the leading Young Animal Nutrition companies in the world.”

New Brand

In 2020, Agrifirm EMEA launched the new young animal feeds brand: Earlyfeed. The brand stands for innovative and reliable nutritional solutions that promote the development of new-born animals. Earlyfeed focuses on specific solutions for the initial period of the animal lifecycle. By improving animal resistance, health and performance, Agrifirm facilitates responsible food production for future generations. Nutrition for young animals forms an important part of the priorities and objectives of the Royal Agrifirm Group. In addition, Agrifirm, in Latin America, continued to roll out Agrimprove, the product line for functional feed ingredients. This was a follow-up to its European launch in 2019.

Also read: Agrifirm and Land O’Lakes announce China joint venture

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