Lopik, September 11, 2024 | In 2023, Royal A-ware Food Group achieved a net group result of €81.8 million with a turnover of €3.3 billion. This represents a 2.1% increase in revenue compared to 2022. The international family-owned dairy and logistics company managed to keep revenue stable despite the challenging dairy market, high diesel prices and other rising costs.
Stable result and healthy financial position
With a net group result of €82 million, Royal A-ware Food Group achieved a result equal to 2.5% of its revenue. Net investments in tangible fixed assets increased by €9.5 million to €108.8 million in 2023. Solvency has increased from 23.24% to 29.04%.
Challenging dairy market
In 2023, the number of dairy farmers supplying Royal A-ware also continued to grow in both Belgium and the Netherlands. Despite rising interest rates and lower purchasing power, Royal A-ware managed to remain one of the leaders in both countries in terms of milk prices paid.
Long-term growth and investment agenda
As in previous years, the growth of the international family business is driven by the consistent implementation of its long-term strategy and associated investment agenda.
In 2023, significant investments were made at nearly all dairy production sites to make production processes more sustainable and expand capacity in order to continue meeting the growing demand for dairy products. Further steps have been taken internationally in the development of the cheese factory in Ireland and the acquisition of a dairy factory in Spain.
Investments in new, more sustainable vehicles and renewable fuel were made by AB Texel, the logistics company within Royal A-ware Food Group. Through various acquisitions, AB Texel strengthened its position in bagged goods distribution and other areas, and expanded its services in the transport of agricultural products in the UK.
Key figures in 2023:
