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Royal A-ware books turnover of EUR 3.2 billion in 2022

3 August 2023

In 2022, Royal A-ware achieved a net group result of EUR 72 million with a turnover of EUR 3.2 billion. Compared to 2021, turnover grew by EUR 1.0 billion. This significant turnover growth is the result of organic (volume) growth, the full-year effect of acquisitions in 2021, acquisitions in 2022 and the increase in sales prices of basic dairy products.

As in previous years, the organic growth of the family business is driven by the consistent execution of the long-term strategy with its investment agenda. Moreover, growth accelerated in 2022 due to some targeted acquisitions, especially in the Belgian market. These acquisitions fit into Royal A-ware's goal of making Belgium its second home market. Net investments rose to a, for Royal A-ware, record EUR 157 million in 2022. This grew the total balance sheet value to EUR 1.4 billion.

Some key figures in 2022: 

  • Turnover of EUR 3.2 billion (2021: EUR 2.2 billion)
  • Net group result EUR 72 million (2021: EUR 51 million)
  • Gross operating profit (EBITDA) EUR 166 million (2021: EUR 129 million)
  • Average number of employees 4,066 FTE (2021: 3,459 FTE)

Stable result and healthy financial position

With a net group result of EUR 72 million, Royal A-ware posted a result of 2.2% of turnover. A slightly higher result of 2.3% of turnover was achieved in 2021. Despite this small decline, it is a stable and healthy result that provides a very good basis to roll out the growth and investment agenda unabated.

Stable result with sharply increased milk price paid

Royal A-ware achieved the net result of 2.2% of turnover on a substantially higher milk price. The weighted average milk price paid by Royal A-ware in 2022 is €56.66 (2021: €39.06; per 100 kilogrammes of milk and at Dutch standard contents).


Sustainability has been a key theme for Royal A-ware for many years. Earlier this year, the family-owned company presented a revamped sustainability strategy containing even more ambition. As part of this ambitious sustainability strategy, Royal A-ware has committed to the science-based climate targets of the Science Based Targets initiative (SBTi). By doing so, the company is giving a very clear commitment to organise its value chain as much as possible in line with the Paris climate agreement.

* Photo caption: in April 2022, the Belgian dairy company Olympia and Royal A-ware announced a far-reaching collaboration.

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