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FrieslandCampina reveals annual figures for 2009
FrieslandCampina reports a ‘good financial performance in challenging dairy market’, according to an official financial press release.
Highlights
- Sound performance achieved with brands in Southeast Asia, Africa and Europe, and industrial specialties.
- Volumes in Southeast Asia and Africa on the rise; decreasing consumption of dairy products puts volumes under pressure in Europe.
- Market shares for key categories up.
- Operating profit before non-recurring expenses up 26% to €347m.
- Non-recurring expenses in the amount of €89m relate to restructuring and merger costs.
- Operating profit up 4% to €258m; operating profit as a percentage of revenue up 0.6 percentage point to 3.2%.
- Profit for the year up 35% to €182m.
- Revenue down 14% to €8.2bn due to low prices of such products as milk powder, caseins and basic cheese.
- Net cash flows from operating activities increase significantly from €351m to €757m.
- €87m added to the general reserve.
- €31m (€0.35 per 100kg of milk) added to reserve registered in the names of member dairy farmers.
Read the full FrieslandCampina financial release here.
Source: FrieslandCampina
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