The shareholders at the annual general meeting 21 April 2015 in FirstFarms A/S could be pleased that the group is now one step closer to its goal of operation of 20,000 hectares of land in Romania.
- We have succeeded to expand the area in West Romania with another 1,500 hectares here in the spring compared to the expected.
- We are now operating 3,800 hectares in this area in harvest year 2015.
This was told by the chairman of FirstFarms A/S, Henrik Hougaard, in his report on the annual general meeting in Billund.
The 78 shareholders that were present, was told in the report by the chairman that the group came out of 2014 in a satisfactory way. Not at least seen in light that the year was subject to many difficulties for the European agriculture.
FirstFarms realised in 2014 a turnover of DKK 125.1 million, an EBIT result of DKK 19.2 million and a pre-tax result of DKK 11.5 million.
Aims for 20,000 hectares in Romania
With the new agreement, FirstFarms A/S now operates a total of 7,000 hectares in Romania for harvest in 2015.
In addition, with the recently entered Letter Of Intent with DCH International A/S, it will be expanded with a further 2,100 hectares in September 2015.
- If this agreement is carried out we are on a total of 9,100 hectares in our centres in East and West Romania, respectively, Anders H. Nørgaard, CEO for FirstFarms A/S states.
It brings the company a little closer to the goal about operation of 10,000 hectares in each of the two centres.
- The 1,500 hectares are already in rotation and will be seeded with sunflower and maize, tells COO Bjarne Maj from the unit in West Romania.
The other crops are wheat and winter rape, which were established in the autumn 2014.
The expansion can be handled with the existing machine park, except that an extra sprayer and a few more corn wagons are needed.
A total of 15 employees are working in West Romania.
Picture of Henrik Hougaard
FirstFarms has performed satisfactory in light of the challenges which low prices on milk and crops have given the whole European agriculture, Henrik Hougaard told i.e. in his report.
Picture of Anders H. Nørgaard
FirstFarms is ready to expand and possibly enter cooperation with others, reported Anders H. Nørgaard to the shareholders.
Picture of Bjarne Maj
COO Bjarne Maj from FirstFarms' unit in West Romania shows where it takes place.
Picture of the assembly
78 shareholders attended the annual general meeting in FirstFarms A/S, and there was a lively debate after the report from the chairman and the CEO.
Further information at FirstFarms A/S, CEO Anders H. Nørgaard on +45 75 86 87 87
FirstFarms A/S is Denmark's only stock exchange listed company with activities in the primary agriculture. FirstFarms A/S was listed in December 2006 and has now approximately 3,300 shareholders and a share capital of DKK 47,122,410. The activities are in agricultural companies and land in Slovakia and Romania. The company operates a total of 16,300 hectares, 2,400 dairy cows and employs approximately 200 employees. In 2014, FirstFarms A/S realised a turnover of DKK 125.0 million, an EBIT result of DKK 19.2 million and a pre-tax result of DKK 11.5 million. In 2015, FirstFarms A/S expects an EBIT result of DKK 6-11 million.
