Increase of cultivation activities in Romania and Slovakia
FirstFarms starts up a new cultivation area in Western Romania, where FirstFarms
owns 1,600 hectares of agricultural land. Until now this area has been rented
out, but will in future be part of own operation. Furthermore, FirstFarms
expects a significant potential for further expansion of the operation in this
In December and January, FirstFarms has entered new renting contracts with a
total area of 1,300 hectares in Slovakia. This will increase the cultivated area
in Slovakia in 2014 from 8,000 to 9,300 hectares.
The increased area of operation is in 2014 expected to be able to give a
positive, but overall minor, contribution to the result of the year.
The expansion of FirstFarms' total area of operation with a total of 2,900
hectares is hereafter expected to contribute significantly to the future revenue
on basis of the improved capacity utilization of existing resources in
FirstFarms. The revenue is however still depending on crop prices and yields.
FirstFarms has also bought the company's previously leased operation centre in
Eastern Romania, where we are now investing in improvement of the facilities
with machine- and storage houses, weighbridge, staff facilities and new office.
Management and operation is then consolidated in one centre instead of various
The company announces the expectations for 2014 in connection with publication
of the company's accounts for 2013 (26 March 2014).
Billund 23 January 2014
For further information:
Please visit our website www.firstfarms.com or
contact CEO Anders H. Nørgaard on telephone +45 75 86 87 87.
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