FirstFarms AS: adjusts upwards its expectations for 2022 result

Billund / DK. (ff) As a result of increasingly better market conditions for pigs and stable and good market conditions for crops and milk in Q4-2022, FirstFarms A/S adjusts upwards its expectations for the year’s result. The announced expectations for Ebitda and Ebit are raised with 30 million DKK and 25 million DKK at the bottom of the announced expectations and 10 million DKK and 5 million DKK at the top. The spread is thus narrowed by 20 million DKK to an Ebitda of 140 to 150 million DKK against previously 110 to 140 million DKK and Ebit of 90 to 100 million DKK against previously 65 to 95 million DKK, as announced in company announcement no. 24/2022. The company expects the 2022-result to be historically good. «We have experienced historically high prices for milk and crops and recently the prices for pigs have also reached a better level. The pig production is, however, affected by high costs, but this is outweighed by the efficiency and circularity we have achieved in the production,» says CEO Anders H. Nørgaard.

Announced expectations for 2022 in million DKK  Ebitda  Ebit
23 January 2023 (company announcement no. 1) 02 November 2022 (company announcement no. 24) 24 August 2022 (company announcement no.15) 23 March 2022 (company announcement no. 3) 140-150 110-140 90-130 80-120 90-100 65-95 45-85 35-75
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