Lower commodity dairy prices weigh on FrieslandCampina’s result for 1HY 2026. Lower commodity dairy prices due to high global milk supply put pressure on operating profit: 269 million euros compared with 363 million euros in the first half of 2025. Strong protein markets, growth in higher-value-added products and cost savings partly offset the pressure on the result.
Operating cash flow improved to 292 million euros (H1 2025: 43 million euros), partly due to better working capital management.
Integration of Milcobel and Wisconsin Whey Protein is, according to FrieslandCampina, proceeding according to plan and strengthens economies of scale, market positions and the portfolio.
The guaranteed milk price was 40.49 euros per 100 kilograms, and the pro forma milk price was 43.09 euros per 100 kilograms of milk compared with 55.63 and 59.66, respectively, a year earlier.

It is expected that the result in the second half of 2026 will be higher than in the second half of 2025.

Photo: FrieslandCampina