Feed manufacturer ForFarmers made sharp increases in profitability at both the UK and Group levels in full year 2025.
The UK business reports an underlying EBIT figure of €15.4 million on revenues of €729.5m in the twelve months to 31st December 2025, compared to €8.1m and €722.8m for full year 2024.
UK total feed volumes rose by 5.2% to 2.51 million tonnes in 2025 from the 2.38m tonnes in the previous year, largely due to increased sales to the ruminant sector, in turn helped by strong milk prices for much of the period.
“The strong performance within the ruminant segment demonstrates that our strategy is working and that our feed products and services align well with our customers’ needs,” says the company.
In the domestic pig and poultry sectors, ForFarmers notes further structural integration is occurring, but the company has strengthened its position within the non-integrated segment of the UK pig market. It also reports positive volume development in the poultry sector.
ForFarmers completed its UK business reorganisation in 2025. This saw two feed mills – Burston and Radstock – sold to 2Agriculture. The changes have aligned the company’s cost base better with its level of activities and established a solid foundation for all species products going forward. They also led to a 1.1% fall in underlying operating expenses, which helped lift operational profitability significantly.
“The cost reduction and improved utilisation of the plants have translated into a substantial improvement in profitability and a significant increase in ROACE from 7.7% in 2024 to 16.3% at the end of 2025,” the company notes.
The ForFarmers Group reports a 2025 underlying EBIT of €93.2m on revenues of €3.15bn, compared to €59.1m and €2.75bn in 2024 – respective increases of 57.7% and 14.8%. Group ROACE on underlying EBIT was 17.4% on 31 December 2025 (2024: 13.0%).
The total feed volume increased by 18% to 10.65m tonnes (9.02m tonnes in 2024), which includes a rise in compound feed volumes of 6.9% to 6.48m tonnes (6.06m tonnes). On a like-for-like basis, excluding ForFarmers’ acquisition of Van Triest Veevoeders and the consolidation of its joint venture with team agrar in Germany, total volume grew by 1.0% and compounds by 0.7%.
The company increased its share of the circular raw materials sector to 41.1% in the latest period (37.3% in 2024), with investment in some of its compound production lines allowing greater inclusion rates. The business is progressing towards its target of circular raw materials making 55% of total volumes by 2030.
The year also saw the company strengthen the Dutch poultry value chain through an investment in a broiler farm and the acquisition of Beukelaar Diervoeders. Since the year end, it has agreed a poultry joint venture with KPS Food Group in Poland to strengthen its position there. There was good progress with the Group’s CO2 reduction.
Market developments in 2025 saw feed commodity values remain at low levels, despite increased geopolitical volatility. Broiler and egg prices remained at healthy levels, while milk prices were strong for most of the year, until their decline from Q3 onwards. Since the end of 2025, Chinese tariffs on pork have seen a downward trend in pig prices.
From Q3 2025, the effects of the buy-out schemes to reduce livestock numbers in the Netherlands became clearly visible, especially for pigs, while from Q4 2025 the company noticed the increasing impact of animal disease in all country markets – particularly avian influenza.
“With an increase in volumes to 10.6 million tonnes and an increase in net profit of 52.5%, 2025 has been a record year for ForFarmers,” states Group chief executive Pieter Wolleswinkel. “All country clusters have done well, driven by a customer-centric approach. We are gaining market share, particularly in the Netherlands, indicating a high level of customer satisfaction.
“We also benefited from favourable market conditions with low raw material prices and good selling prices for milk, eggs and meat for a large part of the year.
“Despite the inherently volatile market conditions and the uncertain geopolitical environment, I am positive about the development of the agricultural sector in Europe. Across all countries in which we operate, I see opportunities for further growth and the strengthening of our position.”