ForFarmers Smashes Records with 50% Profit Surge, Eyes EU Dominance

LOCHEM, Netherlands – February 19, 2026 – European animal feed leader ForFarmers N.V. today announced a record-breaking financial performance for 2025, marked by a staggering 52.5% increase in net profit and a historic sales volume of 10.6 million tonnes. The results, which significantly outpace the broader European market trends, underscore the success of the company's aggressive expansion strategy and its ability to capitalize on favorable market conditions.

In a statement reflecting on the landmark year, CEO Pieter Wolleswinkel expressed pride in the achievement. “With an increase in volumes to 10.6 million tonnes and an increase in net profit of 52.5%, 2025 has been a record year for ForFarmers,” he said. “We are gaining market share, particularly in the Netherlands, indicating a high level of customer satisfaction. We also benefited from favourable market conditions with low raw material prices and good selling prices for milk, eggs and meat for a large part of the year.”

A Year of Unprecedented Financial Growth

The Dutch-based company’s financial disclosures paint a picture of robust health and sharp growth. Underlying net profit attributable to shareholders soared to €61.9 million, a dramatic rise from the €40.6 million reported in 2024. This profit surge was driven by a substantial 18.0% increase in total feed volume, although like-for-like growth, excluding recent acquisitions, stood at a more modest but still positive 1.0%.

This performance stands in stark contrast to the wider European animal feed market, which is projected to grow at a much slower compound annual growth rate (CAGR) of around 3-4%. While total industrial compound feed production across the EU-27 was expected to remain relatively stable, ForFarmers managed to capture significant market share.

The company's gross profit climbed 17.9% to €611.2 million, with all regional clusters contributing to the positive result. This top-line growth, combined with what the company calls “strict cost management,” translated into impressive operational leverage. Underlying EBITDA (earnings before interest, taxes, depreciation, and amortization) jumped by 44.7% to €145.9 million, while underlying EBIT (earnings before interest and taxes) rose an even more impressive 57.7% to €93.2 million.

The Engine of Expansion: Strategic Acquisitions and Joint Ventures

A key driver behind ForFarmers' explosive growth has been a series of calculated acquisitions and joint ventures across Europe. These moves have not only boosted sales volumes but have also strategically deepened the company's integration into key agricultural value chains.

The consolidation of the German joint venture with team agrar, launched in March 2025, was a major contributor. This move, combined with the activities of HaBeMa, caused total volume in the Germany/Belgium cluster to swell by 38.7% in the first half of 2025 alone. Further strengthening its German footprint, ForFarmers acquired a feed mill in Fürstenau to begin producing organic feed, tapping into high consumer demand in that segment.

In the Netherlands, the September 2024 acquisition of Van Triest Veevoeders was a significant factor in the volume increase. Beyond just sales, this acquisition aligns with ForFarmers' sustainability goals by expanding its use of co-products and circular raw materials. The company also fortified its Dutch poultry chain presence with the acquisition of Beukelaar Diervoeders.

Looking ahead, the company has announced an intended joint venture with KPS Food Group in Poland. This move is particularly strategic, as it aims to significantly strengthen ForFarmers' position in Europe's largest and fastest-growing poultry feed market. Poland's poultry feed production is forecast to grow by 2.3% in 2025, making it a critical market for future expansion.

Restructuring for Profitability and Targeting Growth Markets

While expansion has been central to its strategy, ForFarmers has also demonstrated a focus on operational efficiency. The company recently completed a major reorganisation in the United Kingdom, which has yielded substantial improvements in profitability. According to company data, the move helped slash operating expenses and improve feed mill utilization, causing the Return on Average Capital Employed (ROACE) in the UK to more than double from 7.7% to an impressive 16.3%.

This successful turnaround provides a blueprint for healthy future outlooks across all species in the region and showcases the management's ability to execute complex internal reforms. This focus on profitability complements the growth-oriented push into markets like Poland, where the company is building on its successful integration of the previously acquired Piast and making new investments to support its ambitious growth targets.

Balancing Profit with a Sustainable Future

Concurrent with its record financial success, ForFarmers continues to emphasize its mission, “For the Future of Farming,” which centers on making the agricultural sector more sustainable. The company reported good progress on CO2 reduction and an increased share of co-products in its feed mixes, directly linking its acquisition strategy with its environmental goals.

The integration of Van Triest, for example, is a core part of its circularity efforts. Furthermore, the company has entered into a strategic partnership with global agricultural giant ADM specifically to lower the CO2 footprint in animal feed. These initiatives are backed by a commitment to transparency and science-based targets.

ForFarmers has voluntarily adopted the stringent Corporate Sustainability Reporting Directive (CSRD) and European Sustainability Reporting Standards (ESRS) for its annual reporting. This commitment to robust ESG disclosure, alongside its SBTi-validated sustainability ambitions, signals a serious effort to balance its rapid commercial expansion with long-term environmental responsibility.

This record-setting year, underpinned by both strategic growth and operational discipline, has bolstered investor confidence. The company has proposed a dividend of €0.30 per ordinary share, a 50% increase from the €0.20 proposed in 2024, signaling a strong and positive outlook for the future despite what the CEO acknowledges are inherently volatile market conditions and an uncertain geopolitical environment.