FirstFarms A/S Interim Financial Report 1 January – 31

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Company announcement no. 11/2022

May 31st 2022

The year 2022 has started well for FirstFarms, and we can see progress in several of our operating business units, while the contribution ratio has also increased.

“However, the markets are still characterized by great uncertainty. Prices can, for example, fluctuate considerably from day to day. However, we are seeing an upward trend in milk and hog prices, and crop prices continue to set new records. The increasing prices of our products, our diversification of risks, our high efficiency and our relatively low costs, in particular due to the production of our own feed, mean that we feel in control”, says the CEO Anders H. Norgaard.

FirstFarms is improving in efficiency and the prices of our products are increasing. On the other hand, the company has also seen its production costs increase like the rest of the market. Circular production with, among other things, the use of clean feed and the use of manure compensated for part of the sharp increase in production costs.

FirstFarms achieved during the accounting period:

  • Net sales of 68 mDKK (2021: 76 mDKK)
  • EBITDA of 30 mDKK (2021: 29 mDKK)
  • An EBIT of 19 mDKK (2021: 16 mDKK)
  • Profit before tax of 17 mDKK (2021: 11 mDKK)

EBITDA and EBIT are improved with 1.0 mDKK and 3.0 mDKK, respectively compared to the same period last year.

FirstFarms maintains the announced expectations of an EBITDA of 80-120 mDKK and an EBIT of 35-75 mDKK. The ambition is continuous development and growth with the aim of becoming one of the best operated and most profitable businesses in Europe in the field of agriculture and food products.

Best regards,
FirstFarms A/S

For further away information:
Please visit our website www.firstfarms.com or contact the CEO Anders H. Nørgaard on the phone +45 75 86 87 87.

About FirstFarms:
FirstFarms is a Danish listed company. We operate FirstFarms with responsibility to surrounding communities and we deliver the best quality that is primarily sold locally. We act on new opportunities, which create value for our investors and for the environment. Every day we work to create a more sustainable business.

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