FrieslandCampina Full-Year Report 2022

Revenue rose by 22.4 percent to 14.1 billion euros, primarily driven by price increases due to higher commodity dairy quotations and other cost increases. The consumer dairy business was unable to fully pass on the high cost increases to customers.

Operating profit rose by 32.7 percent to 471 million euros. Adjusted for currency translation effects and other operating expenses and income, operating profit rose by 94.5 percent to 712 million euros.

Profit increased by 69.8 percent to 292 million euros.

At 293 million euros, the operating cash flow was at a low level due to higher stock and accounts receivable positions resulting from high milk prices and inflation.

Other operating expenses and income amounted to -260 million euros, primarily for restructurings, disposals and the increased costs for converting foreign currencies in Nigeria.

Performance price for member dairy farmers increased by 47.2 percent to 58.69 euros per 100 kilos of supplied milk, including a supplementary cash payment of 0.90 euro per 100 kilos of milk.

Climate plan published with SBTI validated 2030 targets that are in line with the Paris climate goals.

Total reported greenhouse gas emissions from the milk production on member dairy farms and from milk processing and transporting, decreased by 2.7 percent to 11,472 kt CO, equivalents.

Various pilots were initiated, including on livestock feed and circular barn systems, to enable further greenhouse gas reduction in the future.