Summary
The Board of Directors and Management of FirstFarms A/S has today reviewed and adopted the annual report for 2011.
2011: Significant improvements in 2011 and profit corresponding to the expectations
- In 2011, FirstFarms realised a turnover of DKK 129.3 million, an EBITDA-result of DKK 35.4 million, an EBIT-result of DKK 17.1 million and a pre-tax result of DKK 10.8 million.
- The result corresponded to the expectations and is a significant improvement compared to 2010, and thus the EBIT-result was improved with DKK 25.0 million and the pre-tax result was improved with DKK 22.7 million.
- Crop yields and settlement prices were very satisfactory in both Slovakia and Romania.
- The milk price corresponded to the expectations.
- The milk production has been significant lower than assumed at the beginning of the year. The total production is however increased with 17 percent from 19.0 million kg in 2010 to 22.2 million kg in 2011.
- In 2011, FirstFarms realised a positive cash flow main activities of DKK 18.5 million.
2012: Expectations
In 2012, FirstFarms expects a turnover and an EBIT-result on par with 2011.
FirstFarms' annual report can be seen in its full length in the attached document/link (63 pages).
Billund 27 March 2012
Best regards,
FirstFarms A/S
For further information:
Please visit our website www.firstfarms.com or
contact CEO Per Villumsen on telephone +45 75 86 87 87.
