The Netherlands: RoyalFrieslandCampina – lower profit in 2020

The Holland headquartered dairy cooperative Royal FrieslandCampina has to deal with a 2020 profit that declined 71.6 percent to 79 million euro. This was primarily due to the significantly lower operating profit. As a result of the lower profit, member dairy farmers will not receive a supplementary cash payment for 2020 and no member bonds will be issued. The interim payment made in September 2020, of 0.11 euro excluding VAT, per 100 kilograms of milk will be settled with members in 2021. RFC will change its top management structure. The Executive Board, currently composed of the CEO and CFO, will be increased with the president Food & Beverage and the chief People Officer. This restructure will also result in fewer management layers.

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