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 2015.
EBIT result in first half year as expected
- FirstFarms has in the accounting period realised a turnover of DKK 32.3 million, an EBIT result of DKK 3.7 million and a pre-tax result of DKK 0.7 million.
- In the first half year, the milk price has been lower than budget and significantly lower than first half year of 2014. The milk price is still low. The milk production corresponds to the expectation. Compared to first half year 2014, the same quantity of milk has been delivered whereas the income from the milk is approx. DKK 11 million lower.
- The sales prices on grain and oil seed are expected a little higher than budgeted.
- The harvest yields have been satisfactory for the part of the harvest which has been completed. Harvest of the spring crops; primarily sunflower, maize and beets still remains. As it has been dry and hot in Eastern Europe, there is an uncertainty about this part of the harvest and the final settlement prices.
- As a result of the low milk prices, the 2015-expectations are adjusted downwards with DKK 6 million, thus an EBIT result of DKK 0 to 5 million is now expected.
Billund, 27 August 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.
