General Meeting Westfleisch 2018 with a respectable result

by Editor fleischwirtschaft.com
Wednesday, June 19, 2019
Managing Directors Carsten Schruck, Steen Sönnichsen and Johannes Steinhoff guide this year's General Meeting of the company.
Photo: Westfleisch SCE
Managing Directors Carsten Schruck, Steen Sönnichsen and Johannes Steinhoff guide this year's General Meeting of the company.

Westfleisch was able to successfully break away from the negative industry trend in 2018, as Managing Directors Carsten Schruck, Steen Sönnichsen and Johannes Steinhoff explained at this year's General Meeting of the company.

Group sales for the 2018 financial year as a whole totalled €2.6 bn. Although the annual surplus fell from € 12.6 to 11.7 mill., it is still historically at a good level.

In terms of slaughter figures, the cooperative was successful in bucking the general industry trend. In 2018 Westfleisch slaughtered just under 7.9 mill. pigs - excluding the decline in wage slaughters, this represents an increase of 1.6% compared to 2017. In the same period the company slaughtered 425,000 cattle (+ 0.2%).

The Managing Board explained that despite increased slaughter figures, revenues had fallen due to prices remaining at a low level for a long time last year.

In view of the three major trends, the Management Board expects further market consolidation, nationwide declining meat production and globally rising demand for meat - keyword ASP in China - a stabilisation of prices at a high level.

Westfleisch can report a new record in equity capital: It grew by around 12% to € 215.3 mill. In addition, liabilities reached a historically low level. "We are therefore well equipped to successfully fill our 'Westfleisch 2025' location structure project with life", said Carsten Schruck. Westfleisch is pursuing a growth and above all a quality strategy with targeted investments in the modernization of individual locations. As one of the leading meat marketers in Germany and Europe, the company intends to achieve even higher added value over the entire process chain - from agriculture to raw materials and processing.

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