ForFarmers (FFARM) H2 2025 (Media) earnings summary

Executive summary

• Achieved record performance in 2025 with volumes of 10.6 million tonnes and net profit up 52.5%, driven by organic growth, acquisitions, and strengthened market positions across all regions.

• Favourable market conditions, including low raw material prices and solid selling prices, supported results.

• Integration of Van Triest, German joint venture with team agrar, and new JV with KPS in Poland strengthened the poultry value chain.

• All clusters contributed positively, with notable market share growth in the Netherlands and strong performance in Germany, Poland, and the UK.

Financial highlights

• Total volume increased by 18% to 10.6 million tonnes; compound feed volume up 6.9%.

• Net profit rose to €61.9 million, up 52.5% year-over-year; EPS (underlying) increased to €0.70.

• Gross profit up 17.9% to €611.2 million; underlying EBITDA up 44.7% to €145.9 million; underlying EBIT up 57.7% to €93.2 million.

• Revenue rose 14.8% to €3,153.1 million.

• Dividend proposal of €0.30 per share, up from €0.20.

Outlook and guidance

• Management agenda for 2026 focuses on completing Tasomix and KPS integration, strengthening market positions, and advancing sustainability ambitions.

• Positive outlook for further growth and market position strengthening across all operating countries, despite volatile market and geopolitical uncertainties.

• Continued investment in capacity expansion, especially in Poland and the UK, and focus on cost control and logistics optimization.