ForFarmers saw strong results in the first quarter of 2025, reporting a 17.5% increase in total feed volume compared to Q1 2024. The growth was largely driven by the consolidation of Van Triest Veevoeders and the launch of a new joint venture with team agrar in Germany.
Turnover rose 9.1%, and gross profit grew by 11.2% to €138.1 million (US$149 million). Underlying operating profit (EBIT) jumped 61% year over year to €16.1 million (US$17.4 million), and EBITDA rose 38.9% to €27.5 million (US$29.7 million).
“We look back on a strong quarter in which we once again achieved growth in our compound feed volumes,” said Pieter Wolleswinkel, CEO of ForFarmers. “This is in line with our ambition to retain customers for the long term and to continue growing our market share. Operational profitability also increased strongly, continuing the positive trend of the past year.”
Compound feed and co-products contribute to gains
Compound feed volume rose by 3.5% overall, with like-for-like growth at 1.1%. The German joint venture officially launched March 1, contributing to the feed volume increase.
ForFarmers also reported solid progress on sustainability goals with higher co-product volumes from the Van Triest integration. However, high supply from the food industry slightly reduced the profit contribution from these co-products.
Regional performance in the Netherlands, Poland and UK
In the Netherlands, ForFarmers gained market share despite overall market contraction, driven by strong feed performance and new customer acquisition.
In Poland, the company experienced solid growth despite challenges from animal diseases such as avian influenza. A previously announced investment to expand production capacity remains on track.
In the United Kingdom, the ruminant feed sector led continued strong performance. A mill sale was completed in early April following regulatory approval, and ForFarmers continued to fulfill a temporary production contract for third parties.
Stable input costs, continued volatility
The company reported no structural changes in raw material prices during the quarter, though price volatility increased due to global geopolitical developments. Prices for meat, eggs, and milk remained favorable across ForFarmers’ markets.
Looking ahead
ForFarmers remains focused on growth through partnerships, operational efficiency and sustainability.
“The integration of Van Triest's activities is progressing according to plan,” Wolleswinkel said. “I am proud of our people, who work day in, day out for a future-proof food system in Europe.”
