Goodvalley delivered strong performance in tough 2018
Goodvalley mitigates tough external challenges by a strong operational performance and high efficiency in production
HIGHLIGTS
Financials
- Revenue was lower by 9 % to DKK 1,473 million driven by lower pig and pork prices
- Goodvalley realised a solid Adjusted EBITDA of DKK 222 million despite lower pig and pork prices and harsh weather conditions
Operations
- Goodvalley improved efficiency in terms of sold pigs per sow from 30.6 in 2017 to 31.6 in 2018, being among the leading manufactures relative to both the average in EU and North America
- The whole herd feed conversion ratio was stable at 2.75 kilo feed per kilo pork, resulting from the Group’s ongoing focus on sustainability and efficiency
- The Group completed a series of stable upgrades enabling higher production capacity and efficiency as well as animal welfare and bio-security improvements
Outlook
- Goodvalley expects to generate revenue in the range of DKK 1,400- 1,550 million and an Adjusted EBITDA of DKK 220-280 million driven by continued high production efficiency and higher volumes from finalisation of stable upgrades compared to 2018 level
“While 2018 was marked by challenging weather and tough market conditions, we managed to deliver a strong performance based on high efficiency in the production. We are pleased to present relatively stable revenue of DKK 1,473 million and solid Adjusted EBITDA of DKK 222 million in a historically tough year for the agricultural industry across Europe. Moreover, we made substantial improvements to our business platform, positioning Goodvalley for profitable growth when market conditions normalise” says CEO Tom Axelgaard
Conference call 28 February at 13.00 (CET) about Annual Report 2018
On 28 February 2019 at 13.00 (CET), Goodvalley will host a conference call at which CEO Tom Axelgaard and CFO Hans Henrik Pedersen will provide comments on financial and operational performance in the Financial Year 2018, the outlook and answer questions. Registration is not required.
The conference call will be conducted in English and can be followed live here:
https://edge.media-server.com/m6/p/pzcd4viq
Participants should dial the numbers provided below and state conference code 9789218
| Denmark: | +45 32 72 80 42 |
| Norway: | +47 239 60264 |
| Sweden: | +46 (0)850 692180 |
| United Kingdom: | +44 (0)844 571 8892 |
| United States: | +1 631 5107495 |
Further Information
Group Communications, Anne Axelgaard
+ 45 76 52 20 00
Goodvalley at a glance
Goodvalley is an international producer of high quality pork products operating in Poland, Ukraine and Russia based on Danish production standards. The company is to a large extent self-sufficient and masters the whole production chain from field to fork, from growing crops for feed, breeding and slaughtering pigs including using the manure in biogas facilities to produce electricity and organic fertilizer for the fields. In Poland, Goodvalley is certified as CO2 neutral in the entire production chain by German TÜV and operates according to the highest standards in terms of animal welfare, transparency in the production and sustainable production methods.
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