Summary
The Board of Directors and Management of FirstFarms A/S have today reviewed and adopted the un-audited quarterly accounts for the period 1 January - 31 March 2012.
Result in Q1 as expected
- FirstFarms has in the accounting period achieved a turnover of DKK 22.0 million (2011: DKK 15.0 million), an EBIT result of DKK 0.0 million (2011: DKK -1.0 million) and a pre-tax result of DKK -1.5 million (2011: DKK -1.9 million).
- In Q1, the milk price has been on par with the expected but after the end of the quarter the milk price has been under pressure. The milk production has in Q1 been lower than expected.
- The prices on grain products and oilseed are at present higher than expected. Sales agreement of 45 percent of the expected harvest of sales crops in 2012 has been entered.
- In Romania, FirstFarms has re-sowed some areas with winter rape and winter barley and replaced them with sunflower and maize.
- In both Slovakia and Romania, the crops are satisfactory compared to the time of year.
- FirstFarms maintains the 2012-expectations of a turnover and an EBIT result on par with 2011.
Billund, 22 May 2012
FirstFarms A/S
For further information:
Please visit our website www.firstfarms.com or
contact Managing Director Per Villumsen on telephone +45 75 86 87 87.
