News Dairy

Interfood: higher profit from lower turnover

May 8, 2024 - Klaas van der Horst

Dairy trader Interfood has achieved an excellent result in its fiftieth year of existence. The annual report for 2023 shows a nearly 17% lower turnover, but the net result more than doubled. CEO Frank van Stipdonk is therefore delighted with this success.

According to the annual report, which this time is fully posted on the company's website, the turnover decreased from €3.6 billion to €3 billion, maintaining the company as the second largest dairy trader in the Netherlands in terms of size. However, in terms of result, the company clearly took first place, with a net result of €71.5 million. This amount far surpasses the €33.4 million profit from the previous year.

To achieve these results, Interfood had to transport 1.156 million tons of product from A to B. This is slightly less than the 1.172 million tons from the previous year. According to the annual report, this was done in a more sustainable way than the previous year, with reduced emissions.

Active in a broader sense
Although Interfood mainly earns its income from trading in dairy products and financial instruments linked to them, the company is also active in a broader sense. Together with A-ware, it has a stake in an Estonian cheese producer and a financial interest in Fermify, an Austrian start-up aiming to produce cheese through precision fermentation.

Interfood will use part of the annual profit for 2023 to strengthen its equity. As a result, the solvency ratio stands at 31.5%, largely thanks to equity. Another part, €37.3 million, will be distributed as dividends. Of this amount, €2.3 million will go to holders of preference shares, while the remaining €35 million will go to holders of ordinary shares.

Klaas van der Horst

Klaas van der Horst is a senior market specialist in dairy at DCA Market Intelligence. He also closely monitors developments in politics and agricultural policy.