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 2013.
Net profit in the first half year of DKK 1.7 million
- FirstFarms has in the accounting period realised a turnover of DKK 35.7 million, an EBIT result of DKK 4.5 million and a pre-tax result of DKK 1.3 million. The results are marginal better than expected.
- In the first half year, the milk price has been lower than assumed.
- The sales prices on grain and oil seed have decreased significantly and have been lower than assumed on sold crops, and they are also expected to be lower than assumed on the remaining crops - mainly maize and sunflower.
- The harvest yields in Romania and Slovakia have been higher than assumed for both rape and wheat. The remaining crops in Romania (maize and sunflower) are satisfactory, whereas the maize in Slovakia is influenced by drought. It is however still too soon to assess the precise consequence of it.
- It is expected that the milk price in Q3 and Q4 will be higher than budgeted.
- FirstFarms maintains the 2013-expectations of an EBIT result of DKK 10-15 million.
Billund, 27 August 2013
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.
