ForFarmers (FFARM) Q3 2025 TU earnings summary

Executive summary

• Achieved strong volume growth and profitability in Q3 2025, continuing positive trends from previous years.

• Market share increased, supported by customer focus, employee commitment, and recent acquisitions.

• Integration of joint ventures and acquisitions, such as Van Triest Veevoeders and Beukelaar Diervoeders, contributed to growth.

• Markets outside the Netherlands, especially the UK and Poland, showed strong profitability contributions.

Financial highlights

• Total volume rose 23.8% year-over-year to 2.68 million tonnes; like-for-like growth was 5.6%.

• Compound feed volume increased 10.1% (like-for-like 2.6%).

• Turnover up 20.6% to €802.3 million; like-for-like growth 4.5%.

• Gross profit increased 21.1% to €154.1 million; like-for-like 7.7%.

• Underlying EBIT up 87.6% to €25.7 million; underlying EBITDA up 61.8% to €39.0 million.

Outlook and guidance

• Continued focus on cost control and market share expansion expected to support future profitability.

• Integration of recent acquisitions and joint ventures is on schedule, optimizing capacity and market position.