Dairy giant FrieslandCampina posted stronger-than-expected financial results in 2025, despite a challenging second half of the year. What started out well suddenly turned sour when a large milk surplus caused dairy prices to plummet.
A year of two halves
Net sales rose by 3.9% to €13.4 billion, while net profit increased slightly to €328 million. Nevertheless, the year was not an unqualified success. The first half of 2025 was favorable, with high dairy prices and strong demand. In the second half, however, basic dairy prices fell sharply as a result of a global oversupply of milk. Total milk supply increased by 2.4% to 9.268 billion kilograms.
Nevertheless, FrieslandCampina says it managed to gain market share in Europe. Dairy farmers also benefited from a significantly higher milk price: the average price rose by 7.5% to €56.93 per 100 kilograms of milk. Members received an additional cash payment of €1.31 per 100 kilograms, 10 euro cents more than a year ago.
FrieslandCampina expects the market to remain challenging in the first half of 2026, with continued pressure on basic dairy prices. Recovery is not expected until the second half of the year. The merger with the Belgian dairy cooperative Milcobel, which was completed on 1 January did result in around 1,250 new members and 950 employees from Belgium and France. At the same time, Wisconsin Whey Protein in North America was acquired.
