Summary
The Board of Directors and Management of FirstFarms A/S have today reviewed and adopted the un-audited interim financial accounts for the period 1 January - 30 June 2014.
EBIT result in first half year of DKK 10.5 million
- FirstFarms has in the accounting period realised a turnover of DKK 39.0 million, an EBIT result of DKK 10.5 million and a pre-tax result of DKK 6.8 million. The results are on par with the expected.
- In the first half year, the milk price has been lower than budgeted but it has been compensated by a higher milk production than budgeted. The milk price has in Q2 been under pressure, and the prices in second half year will also be lower than budgeted. This is expected to be partly compensated by a higher milk production.
- The sales prices on grain and oil seed are lower than budgeted, but price agreements entered in the spring 2014 soften the effect hereof.
- The harvest yields for winter crops in Romania and Slovakia have been higher than budgeted.
- FirstFarms maintains the 2014-expectations of an EBIT result of DKK 17-22 million.
Billund, 26 August 2014
FirstFarms A/S
For further information:
Please visit our website www.firstfarms.com or
contact CEO Anders H. Nørgaard on telephone +45 75 86 87 87.
