Goodvalley announces new financial reporting structure

13/8/2019
COMPANY ANNOUNCEMENT 10/2019

From the publication of the Q2 2019 results on 27 August 2019, Goodvalley introduces geographical segments to replace the historical business area segments.

The revised external reporting structure is a consequence of the launch of one Group identity in 2018 and the introduction of a country-based organisational structure and internal management reporting setup. The introduction of a new reporting structure has no influence on the Group’s CO₂ neutral and vertically integrated business model, which is unchanged.

The Group’s new geographical segments are Poland, Ukraine and Russia.

The Poland segment is comprised of production and sales of deboned pork meat, branded and private label pork products from Goodvalley’s slaughterhouse, live pigs from 22 production facilities and crops from 13,400 hectares of land as well as energy from eight biogas plants. In 2018, the segment accounted for 61% of the Group’s external revenue and contributed with DKK 46 million to Goodvalley’s Adjusted EBITDA.

The Ukraine segment is comprised of production and sales of live pigs from 7 production facilities and crops from 17,500 hectares of land as well as energy from one biogas plant. In 2018, the segment accounted for 27% of the Group’s external revenue and contributed with DKK 112 million to Goodvalley’s Adjusted EBITDA.

The Russia segment is comprised of production and sales of live pigs from 2 production facilities and crops from 5,600 hectares of land. In 2018, the segment accounted for 12% of the Group’s external revenue and contributed with DKK 69 million to Goodvalley’s Adjusted EBITDA.

Costs and non-recurring items that are not directly attributable and cannot be allocated to the individual segments on a reliable basis are presented only at Group level.

Comparative financial figures for the period Q1 2017 – Q1 2019 have been restated to reflect the new reporting structure and are provided in this company announcement. Selected financial figures for the full-year 2018 are presented in accordance with the historical business area segments and the new geographical segments in the table below.

Table: New reporting structure (full-year 2018)

*Adjusted EBITDA refers to EBITDA before non-recurring items adjusted for herd price.

Further information

Group Communications, Anne Axelgaard
+ 45 76 52 20 00
info@goodvalley.com

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. 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.

Table: Comparative financial figures by geography (unaudited)

Attachment

• Company announcement no 10 2019 - Goodvalley announces new financial reporting structure