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 - 31 March 2016.
Result in Q1 as expected
- FirstFarms has in the accounting period achieved a turnover of DKK 25.4 million, an EBIT result of DKK 0 and a pre-tax result of DKK -1.9 million.
- In Q1, the milk price has been lower than assumed, but is in mainly compensated by a higher production. The milk price is still very low, and it is difficult to estimate when the trend will turn.
- The prices on grain products and oilseeds are expected on par with previously announced.
- In both Slovakia and Romania, the crops are satisfactory for the season.
- FirstFarms maintains the announced expectations of an EBIT result of DKK 0, and after final due diligence and implementation of 2/3 of the agreement with AP Pension an EBIT-result of DKK 26 million, cf. FirstFarms' company announcement 4/2016 published 21 April 2016.
Billund, 24 May 2016
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.
