FirstFarms has had an undertaking to receive EU subsidy for the ongoing investment in the construction of cattle stables in Slovakia. The subsidy constitutes approx. DKK 11 million and is payable in 2008 and 2009. The subsidy is a part of the funds that EU provides for structural accommodations in i.e. agriculture in Eastern Europe.
In the accounts the subsidy is credited as the activities are depreciated. Therefore there will be no effect on the result for 2008 whilst there in 2009 and the following 9 years will be credited approx. DKK 1.1 million per annum.
