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    FFARM   NL0011832811

FORFARMERS N.V.

(FFARM)
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Real-time Quote. Real-time Euronext Amsterdam - 10/27 11:35:11 am
4.18 EUR   +1.09%
09/24FORFARMERS N : ranked as a top performer in sustainability
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09/21FORFARMERS N : to expand feed mill Izegem
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08/13Forfarmers N.V. Reports Earnings Results for the Half Year Ended June 30, 2021
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ForFarmers N : to expand feed mill Izegem

09/21/2021 | 10:42am EDT
ForFarmers to expand feed mill Izegem
21 September 2021 - 16:30

ForFarmers will be increasing the storage capacity of the feed mill in Izegem (Belgium) and will also modernise the mill. At the same time, ForFarmers has decided to close the mill in Ingelmunster and expects to transfer the volumes to the refurbished feed mill in Izegem in the fourth quarter of 2022. In doing so,ForFarmers is opting for a more efficient and sustainable production process. ForFarmers is continuously investing inthe improvement of its processes and systems. This is in line with its 2025 Build to Grow strategy objective for operational excellence, whilst always putting providing the best quality to customers central.

Optimising for the future

ForFarmers has chosen to modernise one of the two current feed mills into an efficient and sustainable production location, to be able to continue to provide customers with quality feed and an even better service in the future. Investing in the Izegem mill appeared to be the best choice following a thorough analysis. Consequently, this means production in Ingelmunster will cease at the end of 2022.

The decision was additionally taken to transfer the production of poultry feed, both for layers and broilers, to another feed mill. More details on this will be communicated at a later stage. The production of swine and dairy feed will consequently take place in the dedicated Izegem mill from the beginning of 2023.

Quality for customers

The mill in Ingelmunster will remain operational until the end of 2022. The quality of feed, services and delivery conditions will remain unchanged.

Tom Timmerman, Managing Director at ForFarmers Belgium: "By modernizing the factory in Izegem, we are emphasizing the importance we attach to delivering consistent feed quality and being highly reliable in terms of delivery. The increased storage capacity will allow our experienced team to deploy an even wider range of raw materials in the production of innovative and sustainable feed concepts. As a result, we can meet the requirements of our customers both today and in the future."

Retain experienced operations team

ForFarmers deems it important to be a good employer. The Company accordingly strives to transfer all employees from the Ingelmunster production location to Izegem following its closure

Disclaimer

ForFarmers NV published this content on 21 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 September 2021 14:41:02 UTC.


ę Publicnow 2021
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Financials
Sales 2021 2 666 M 3 097 M 3 097 M
Net income 2021 32,6 M 37,9 M 37,9 M
Net Debt 2021 32,8 M 38,1 M 38,1 M
P/E ratio 2021 12,2x
Yield 2021 7,01%
Capitalization 393 M 455 M 456 M
EV / Sales 2021 0,16x
EV / Sales 2022 0,16x
Nbr of Employees 2 502
Free-Float 33,0%
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Number of Analysts 2
Last Close Price 4,14 €
Average target price 5,03 €
Spread / Average Target 21,5%
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Managers and Directors
Yoram Maurits Knoop Chief Executive Officer
Roeland Johan Tjebbes Chief Financial Officer
Jan Van Nieuwenhuizen Chairman-Supervisory Board
Steven Read Co-Chief Operating Officer
Pieter Wolleswinkel Co-Chief Operating Officer