After a record year in 2020, Topigs Norsvin is reporting 2021 another successful year for the company. The turnover rose by almost 10% to € 209 million.
In 2021, the gross profit was € 24.1 million, which is slightly lower than the record result of 2020. However, at € 6 million, the result after taxes was comparable to that of 2020. The net cash flow saw a steep rise to € 9.2 million in 2021 – six times higher than in 2020.
With these results, the firms says considerable investments can be made in accelerating the genetic progress and distributing faster to clients. An example of such genetic progress is the new nucleus breeding location Innova Canada, which will become operational later this year.
"We have achieved great results, thanks to everyone in the Topigs Norsvin team," says CEO Villaume Kal. "Even though everybody experienced the impact of COVID-19, just like in 2020, we worked with passion under challenging circumstances to respond well to changing market conditions. For this, I'd like to express my gratitude and appreciation."
The growth in the sales of sows and semen continued unabated in 2021. Sales of the TN70 sow rose with double figures worldwide. Among the terminal boars, TN Tempo terminal boar sales exceeded expectations. In the United States and several other countries, the company says the new TN Duroc terminal boar "made a flying start."
"Our genetics appeals to the market," says Mark Tijssen, chair of the supervisory board. "The breeding choices that we make as an organization managed by pig farmers fit our clients' management systems and the requirements posed by the market and by society. That results in improved pig welfare, higher profits for pig farmers and satisfied consumers.”
Source: Topigs Norsvin, which is solely responsible for the information provided, and wholly owns the information. Informa Business Media and all its subsidiaries are not responsible for any of the content contained in this information asset.