Board of Representatives decision: 269 million euros to farmer owners

2.2 eurocent per kilogramme of milk in supplementary payment (including interest on individual contributed capital) will be paid to all farmer owners. This decision has been taken yesterday by the Board of Representatives (BoR) and was voted for with 176 yes and 3 no.

At yesterday’s Board of Representatives meeting, the BoR has decided that a total of 269 million euros of the company's annual net profit will be returned to farmer owners. The supplementary payment is 2.2 eurocent per kilogramme of milk (269 million euros including interest on individual retainment), and an individual retainment of 0.33 eurocents per kilogramme of milk (39 million euros). The rest of the annual profit consisting of 0.6 eurocents per kilogramme of milk (74 million euros) is the common retainment which will be consolidated in the company as equity and for future investments.

This decision is in line with the Board of Directors (BoD) proposal, and was voted for with 176 yes and 3 no.

In September, a supplementary prepayment was made, corresponding to 1 eurocent per kilogramme of milk delivered in the first 6 months of 2022 (61 million euros in total). On the total milk volume for 2022 this corresponds to 0.5 eurocent per kilogramme of milk. The remaining 1.7 eurocent per kilogramme of milk including interest on individual contributed capital (208 million euros in total) will be paid out in March 2023.

For each farmer owner, the individual supplementary payment is calculated based on the full year supplementary payment of 2.2 eurocent pr. kilogramme of milk including interest on the contributed capital and the full year milk deliveries. The supplementary prepayment received in September 2022 will then be deduced from the full year supplementary payment.