Dairy trader Geris achieves strong results

Dairy trading company Geris from Nederweert, Limburg, can look back on a successful 2023. Although the turnover decreased slightly, the profit more than doubled. This is evident from figures recently deposited at the Chamber of Commerce.

The turnover of the company's overarching group BV decreased by about 7% last year to €369 million, largely due to lower dairy prices that year. Thus far, Geris, which has been in existence for almost 15 years, cannot yet compete with other major dairy trading houses such as Interfood and Hoogwegt, which are billion-dollar companies. Numidia's turnover is close to that threshold, while Farmel achieved over €550 million in turnover in 2023. The turnover of Melkweg is not available, as they belong to the Van Drie Group.

Significantly higher profit
At Geris, the profit increased by 129% to €7.1 million, most of which was paid out as dividends. In relation to turnover, this results in a net profit margin of 1.92%, a respectable figure for a trading company like Geris. However, the cash flow deteriorated somewhat last year. Additionally, the solvency of less than 25% cannot be considered very strong.

The Geris Food Group includes not only the dairy trading company from Nederweert but also the Italian Cremo SRL. Furthermore, it includes ZZA from Eindhoven, which focuses on premium mozzarella.

Wouter Baan

Wouter Baan is the editor-in-chief of Farmerbusiness and a market specialist in dairy, pork, and meat at DCA Market Intelligence. He also tracks developments within the agribusiness sector and conducts interviews with CEOs and policymakers.

w.baan@farmerbusiness.com

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