From our CEO

Dear stakeholders,

I am delighted to present Interfood’s Integrated Report for 2023, a year of great geopolitical insecurity, economic fluctuations, high interest rates, and continuing severe weather patterns due to climate change. There were also developments which affected communities and people worldwide, negatively impacting their lives. While incomparable with the effect these life changing events had on their communities, businesses also felt the impact. 

Through it all, I am very proud of how the Interfood team handled these challenges and manoeuvred our strategy and development through this period of volatility and unpredictability.

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The year 2023 was truly remarkable. Our financial achievements stand out, with Group profits more than doubling year-on-year. This success is thanks to the innovation and dedication of our employees and stakeholders, resulting in a record Group profit of €71.5 million, supporting this exceptional achievement.

In 2023 we focused on clear strategic choices, investing our resources in long-standing and new partners, which I would like to thank as they represent one of the leading factors in our success. We welcomed a Chief Supply Chain Officer to our Extended Board, who will bring further organisational improvements to our global logistics. We renovated our offices in Uruguay, Singapore, and Poland during 2023 to support our growth and allow our teams to pursue their continuous drive for improvement and excellence.

We can highlight the Epiim factory in Estonia in the list of Company achievements which entered into commissioning phase in the third quarter of 2023 and it is expected to be finalised in 2024. In addition, our investment in Fermify keeps us abreast of advancements in precision fermentation. Considering the continued fluctuations in the dairy market, our focus is on improving our trading and risk analysis capabilities to navigate the market volatility even more effectively.

It is also important to mention the steps we took in sustainability. After years of developing our role in the transition to a more sustainable food industry, 2023 marked the year in which the first on-the-ground projects were delivered: an incredible milestone. 

As a primary enabler for our strategic development, we focused more than ever on becoming datadriven, highlighted by the go-live of our multistakeholder platform, Interfood Connect. As we grow, we build on our world-class team. I would like to highlight the positive outcomes resulting from our Employee Engagement Survey conducted in all our Interfood offices worldwide. We feel connected and committed to Interfood’s vision, which gives us a great boost. The cherry on top of this extraordinary year, and an absolute highlight, was our tremendous 50th anniversary. It was inspiring to see our global teams connect and celebrate our achievements.

A bright future ahead

While 2023 was an exceptional year, we also look ahead to the future, as Interfood will continue to grow in size and volume.

Our focus will be on further expanding our operations in the Asia-Pacific, Americas, and European regions. Moreover, effective as of 1 January, 2024, Interfood Holding has re-branded to Interfood Global. By realising selective growth, Interfood will demonstrate continuous improvement building on all our strategic pillars through cooperation and participation. We continue to acknowledge the responsibility of ensuring a positive impact on society and will further progress our sustainability ambitions, allowing the world to enjoy food responsibly.

In closing

As we close another chapter at Interfood, I want to extend my deepest appreciation to each and every one of our dedicated employees, partners, and stakeholders. Your unwavering commitment, innovative spirit, and collective efforts have not only navigated us through a year of significant global challenges but have also propelled us to achieve remarkable financial success and strategic milestones. 2023 was a year of resilience and growth, marked by our strong financial achievements, strategic expansions, and meaningful steps towards our sustainability goals. We have celebrated half a century of excellence, and set a solid foundation for the future. We look forward to another year of growth and development together with our teams and stakeholders. Thank you for your exceptional dedication and for being an integral part of our journey. Together for better.

Frank van Stipdonk, CEO

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