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ForFarmers reports a bumper year in 2012

ForFarmers has reported an significantly successful year in 2012. Sales rose to a record level of 6.3 million metric tons of compound feed, with turnover (excluding the divested Cefetra) of €2.6 billion and a net result of €53.3 million, according to the company.

ForFarmers has reported an significantly successful year in 2012. Sales rose to a record level of 6.3 million metric tons of compound feed, with turnover (excluding the divested Cefetra) of €2.6 billion and a net result of €53.3 million, according to the company. The result achieved is both the highest absolute result and the highest operating result in ForFarmers’ history.

The expansion of the organization due to the acquisitions of Hendrix and BOCM PAULS and the sale of the shares in Cefetra and Probroed made significant contributions to a positive result. A book profit of €12.8 million was made on the sale of Cefetra and Probroed, which also had the effect of further improving ForFarmers’ capital structure. The integration of the Hendrix activities with effect from April 1, 2012, generated the first visible synergy effects. The acquisition of BOCM PAULS also made a positive contribution to the results, said ForFarmers. Thanks to positive operating results in the United Kingdom, this acquisition contributes directly to the improvement in profit per share.

Mainly due to the acquisitions, the turnover grew by 27 percent to €6.6 billion. In 2012, ForFarmers generated a net result of €53.3 million, including the transaction result of €12.8 million on the sale of Cefetra and Probroed. The result in 2011, including a book profit of €500,000 on the sale of real estate, was €21.9 million.

The intrinsic value per share rose by €0.45 to €3.07. In line with dividend policy, the general meeting of shareholders will be asked to approve a proposal to distribute a total dividend of €12.1 million. This is equivalent to a dividend per share of €0.115. 

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