Resume
The Board of Directors and Management of FirstFarms A/S has today reviewed and adopted the annual report for 2014.
2014: EBIT-result as expected in FirstFarms
- In 2014, FirstFarms 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.
- The result is significantly improved compared to 2013 and the EBIT-result corresponds to the announced expectation.
- The harvest yields in Romania were better than expected, and the same were the spring crops in Slovakia. The maize harvest in Slovakia corresponded more or less to the expectation.
- The prices on grain and oilseeds were in 2014 lower than expected at the beginning of the year. FirstFarms had entered agreements to sell part of the harvest during the spring, and it toned down the effect of the price decrease.
- The milk price in 2014 was significantly lower than expected at the beginning of the year, and it has been decreasing during 2014. Milk production per cow was higher than originally expected. The result in the milk production was in total lower than expected, but significantly better than in 2013.
- In 2014, FirstFarms realised a positive cash flow from main activities of DKK 4.4 million.
2015: Expectations
In 2015, FirstFarms expects an EBIT-result of DKK 6-11 million.
FirstFarms' annual report can be seen in its full length in the attached document/link (66 pages).
Billund 26 March 2015
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.
