High costs and efficient manufacturing safe a superb half 12 months outcome and upward adjustment

FirstFarms has within the first half 12 months of 2022 realised larger turnover, EBITDA and EBIT in addition to a greater pre-tax outcome in comparison with similar interval final 12 months. The expectations to the results of the 12 months are adjusted upwards with 10 mDKK.

The Board of Administrators and Administration of FirstFarms A/S have at the moment reviewed and adopted the unaudited interim monetary accounts for the interval 1 January – 30 June 2022.

FirstFarms has within the accounting interval realised:

• A internet turnover of 155 mDKK (2021: 143 mDKK)

• An EBITDA of 66 mDKK (2021: 57 mDKK)

• An EBIT of 45 mDKK (2021: 36 mDKK)

• A pre-tax results of 41 mDKK (2021: 25 mDKK)

FirstFarms adjusts the beforehand introduced 2022-expectations upwards to an EBITDA of 90-130 mDKK and an EBIT of 45-85 mDKK.

CEO Anders H. Nørgaard says:
“It’s a passable outcome, which after all is predicated on excessive costs in a number of of our operation branches, but in addition on the continuing focus we’ve got on growing effectivity and productiveness. To change into higher at what we do. Each day, we attempt to reside as much as the good expectations and calls for, that we ourselves and the environment have for a sustainable growth and progress in a big, fashionable round manufacturing.”

Operation branches
Rising milk costs in addition to elevated productiveness and thus a considerably elevated turnover are of nice significance for the outcome. The productiveness has elevated by 10 %, and the value on milk has elevated by 30 % in a single 12 months. The worth has now stabilised at a excessive stage, that’s anticipated to final the remainder of the 12 months.

Final 12 months’s file excessive costs on crops continued into 2022 however have stabilised within the current months. The worth adjustment on crops has decreased to 10 mDKK in comparison with 18 mDKK in first half 12 months of 2021. That is as a result of drought in Europe on the whole, however particularly in Romania the drought has had a unfavorable impact on the general harvest yield. The excessive costs on crops partly compensate for a decrease harvest yield.

Story continues

The pig costs are nonetheless low in comparison with the manufacturing prices. The upward development we noticed within the pig costs in Q1 has slowed down, however the productiveness and effectivity are nonetheless at a excessive stage. Total, the pigs give a zero outcome for the half 12 months. There’s a optimistic worth adjustment on the pigs of 10 mDKK – that is four mDKK larger in comparison with first half 12 months 2021.

”We wouldn’t have affect on the pig costs, however we’ve got when it comes to effectivity and productiveness, and right here we’re expert so it’s doable to not lose cash on the pigs in difficult instances. We should get higher nonetheless. In July, the acquisition of the corporate Attempt-Béta Kft. in Hungary was lastly in place, and we took over silo plant and cultivated land. Amongst different issues, the crops will likely be utilized in our giant close by pig productions and thus kind a part of our round operation. This implies even better effectivity, decrease prices and thereby a big contribution to a passable revenue from the pigs going ahead, says Anders H. Nørgaard.

Finest regards,
FirstFarms A/S

For additional info:
Please go to our web site www.firstfarms.com or contact CEO Anders H. Nørgaard on telephone +45 75 86 87 87.

About FirstFarms:
FirstFarms is a Danish inventory change listed firm. We function FirstFarms with accountability for the encircling communities, and we ship highest high quality which is primarily offered regionally. We act on new alternatives, that create worth for our buyers and for the environment. Each day, we work on making a extra sustainable firm.

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