News Meat

Van Rooi Meat keeps profit fairly stable

July 11, 2024 - Wouter Baan

Where other slaughterhouses often saw profits decimated in 2023, this applies to a lesser extent to Van Rooi Meat. The Helmond-based meat company also significantly increased its turnover to just under €1 billion.

This is evident from the annual report of the overarching holding company that was deposited with the Chamber of Commerce at the end of last month. It can be seen from this that turnover in 2023 increased by just under 30% to €993 million. This has never been so high before. Of this, €375 million is generated in the domestic market and €452 million within Europe (including non-EU countries). Van Rooi achieved €168 million in turnover outside Europe.

Strong balance sheet
Net profit after taxes decreased by 13% in 2023 to €23.6 million. The profit is affected by increased (interest) costs. Van Rooi is performing better than Dutch competitors who report larger profit declines in their annual reports. The net profit margin of 2.3% is also relatively high. The solvency of 58% is also considered strong. This continues the trend of previous years when Van Rooi consistently outperformed many other slaughterhouses in our country. Unlike previous years, no dividend has been paid out, but the profit is entirely allocated to the company's reserves.

Acquisition of Tomassen
Meanwhile, the company continues to grow steadily. In November 2023, Van Rooi announced the acquisition of Tomassen slaughterhouse in Someren, Brabant. The annual report reveals that this deal had already been finalized earlier, as the figures have been included in the group's results since July of last year.

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.