Member Council FrieslandCampina approves annual reports of 2019

The Member Council of Zuivelcoöperatie FrieslandCampina U.A. adopted the annual reports of Zuivelcoöperatie FrieslandCampina U.A for the year 2019 on Wednesday 25 March 2020. Additionally, it approved the Board’s decision to adopt the financial statements 2019 of Royal FrieslandCampina N.V.

The Members’ Council also agreed to the payment of the performance premium and the granting of member bonds on top of the guaranteed price received by the member dairy farmers for farm milk delivered in 2019. Finally, the Members’ Council agreed to the Board’s proposal to add an amount of  EUR 160 million (2018: EUR 76 million) of the result for 2019 to the cooperative’s general reserve.

Performance premium

On 1 September 2019, FrieslandCampina distributed an interim payment of EUR 0.65 per 100 kilogrammes of milk to the member dairy farmers of Zuivelcoöperatie FrieslandCampina U.A. This was 75 percent of the pro forma performance premium for the first half year (EUR 0.33 per 100 kilos of milk for the full year). The final settlement will be effected on 26 March 2020, based on FrieslandCampina’s annual results and the quantity of farm milk supplied by the dairy farmer in 2019. The performance premium over 2019 was EUR 1.07 per 100 kilos of milk. The member dairy farmers therefore will still receive a performance premium of EUR 0.74 per 100 kilos of milk.

The Member Council of Zuivelcoöperatie FrieslandCampina U.A. consists of 210 district leaders (ten from each of the 21 districts). Due to the measures taken by FrieslandCampina and the Dutch government to prevent the further spread of the coronavirus, the meeting took place via a webinar.

For more information see our annual reports.