Dutch-owned DN AGRAR Group sees 4% turnover increase in H1 2024

DN AGRAR Group (BVB: DN), the largest integrated livestock farm in Romania, controlled by the Dutch de Boer family, recorded a 4% increase in turnover in the first half of 2024, to RON 83 million (EUR 16.7 mln).

The company's net profit remained stable at RON 15 million (EUR 3 mln), similar to the first half of 2023, despite a 12% decrease in the average milk price.

"We have made significant steps in strengthening our market position and have achieved solid operational and financial results, supported by optimizations of the activity and costs following strategic investments in modernization, digitalization, and the integration of group companies," said Jan Gijsbertus de Boer, Chairman of the Board and CEO of DN AGRAR Group.

The quantity of milk delivered increased by 17%, maintaining a steady pace of over 5 million liters per month, positively impacting the company's financial results.

EBITDA advanced by 10%, reaching RON 35 million, despite a volatile market context.

"We are on track with the announced investment projects. We completed the installation of robots in DN AGRAR farms, significantly reducing manual labor, and progressed with the Straja farm project, where we expect to have 900 productive cows by the end of the year. The compost plant at the Apold farm will become operational in the third quarter," de Boer added.

At the end of June 2024, the livestock owned by DN AGRAR, consisting of dairy cows and young cattle, and reached approximately 14,700 heads.

DN AGRAR's main investment project for the 2024-2027 period is the new Straja farm, located near Alba Iulia, where construction has started for a future capacity of 5,000 animals.

(Photo source: the company)