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FirstFarms Interim / Quarterly Report 2022
3433_rns_2022-08-24_ad4df79f-eda4-44bc-a2e5-2daaab059526.pdf
Interim / Quarterly Report
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Interim financial report for 1 January – 30 June 2022 for FirstFarms A/S
FIRSTFARMS
CONTENT
HIGH PRICES AND EFFECTIVE PRODUCTION SECURE A GOOD HALF YEAR RESULT AND UPWARD ADJUSTMENT ... 4
FINANCIAL HIGHLIGHTS AND KEY RATIOS ... 6
EXPECTATIONS ... 7
MANAGEMENT STATEMENT ... 8
INCOME STATEMENT AND TOTAL INCOME STATEMENT ... 10
BALANCE SHEET ASSETS ... 11
BALANCE SHEET EQUITY AND LIABILITIES ... 12
EQUITY STATEMENT ... 13
CASH FLOW STATEMENT ... 14
INVESTOR INFORMATION ... 17
FIRSTFARMS
CEO in FirstFarms
Anders H. Nørgaard:
FirstFarms has in the first half year of 2022 realised higher turnover, EBITDA and EBIT as well as a better pre-tax result compared to same period last year. The expectations to the result of the year are adjusted upwards with 10 mDKK.
A satisfactory half year, which of course is based on high prices in a few of our operation branches, but also on the ongoing focus we have on increasing efficiency and productivity. To become better at what we do. Every day, we strive to live up to the great expectations and demands, that we ourselves and the surroundings have for a sustainable development and growth in a large, modern circular production.
We adjust the announced expectations upwards to an EBITDA of 90-130 mDKK and an EBIT of 45-85 mDKK. The ambition is continued development and growth with the goal of becoming one of Europe's best operated and most profitable companies in the area of agriculture and food products.
FirstFarms
HIGH PRICES AND EFFECTIVE PRODUCTION SECURE A GOOD HALF YEAR RESULT AND UPWARD ADJUSTMENT
In the first half year 2022, higher turnover, EBITDA and EBIT as well as a better pre-tax result have been realised. A satisfying half year.
Increasing milk prices as well as increased productivity and thus a significantly increased turnover are of great importance for the result. The productivity has increased by 10 %, and the price on milk has increased by 30 % in one year. The price has now stabilised at a high level, that is expected to last the rest of the year.
Last year's record high prices on crops continued into 2022 but have stabilised in the recent months. The value adjustment on crops has decreased to 10 mDKK compared to 18 mDKK in first half year of 2021. This is due to drought in Europe in general, but especially in Romania the drought has had a negative effect on the overall harvest yield. The high prices on crops partly compensate for a lower harvest yield.
The pig prices are still low compared to the production costs. The upward trend we saw in the pig prices in Q1 has slowed down, but on the other hand productivity and efficiency are still at a high level. Overall, the pigs give a zero result for the half year. There is a positive value adjustment on the pigs of 10 mDKK – this is 4 mDKK higher compared to first half year 2021.
In July, the acquisition of Try-Béta Kft. in Hungary was finally in place, and we took over silo plant and cultivated land. Among other things, the crops will be used in our large nearby pig productions and are thus part of our circular operation.
FirstFarms has in the accounting period realised:
- A net turnover of 155 mDKK (2021: 143 mDKK)
- An EBITDA of 66 mDKK (2021: 57 mDKK)
- An EBIT of 45 mDKK (2021: 36 mDKK)
- A pre-tax result of 41 mDKK (2021: 25 mDKK)
Expectations
FirstFarms adjusts the announced expectations upwards for 2022, which is an EBITDA in the level of 90-130 mDKK and an EBIT of 45-85 mDKK. In 2021, an EBITDA of 114 mDKK and EBIT of 70 mDKK was realised.
FirstFarms
Equity
The equity is in the period increased by 45 mDKK. In addition to the result for the year, convertible bonds of 18 mDKK have been converted, and FirstFarms has a positive adjustment on the interest rate hedge instrument of 4 mDKK. Dividend of 7 mDKK has been paid. During the period, there has been a negative impact on exchange rates relating to foreign entities with a total of 3 mDKK.
Milk
In first half year 2022, the milk price and milk production have been considerably higher compared to first half year 2021 (3.09 DKK/kg compared to 2.38 DKK/kg). In total, this has entailed an additional turnover in the milk production of 16 mDKK.
Pigs
The turnover for piglets and slaughter pigs is in first half year 2022 increased by 10 mDKK compared with same period last year. Until mid Q2 2022, pigs have been sold internally from Slovakia to Czech Republic. This has a positive effect on the external turnover in first half year 2022 with 2.5 mDKK. In first half year 2022, the piglet price was 376 DKK/pcs. compared to 325 DKK in first half year 2021, and slaughter pig price was 12.09 DKK/kg compared to 9.97 DKK. The prices are, as in first half year 2021, higher at the end of June compared to December 2021, thus there is a positive value adjustment of the herd of 9.7 mDKK compared to 5.7 mDKK in first half year 2021.
Crops
More of the crops in the field are impacted by lack of rain, like in most of Europe. The development is therefore not on par with 2021, where there were record high yields several places. Thus, the biological transformation at the end of first half year 2022 is negative compared to same period in 2021. The crop prices have been on historical levels during first half year 2022, which partly compensate the negative impact of the lack of rain.
Risk assessment
FirstFarms has in the annual report of 2021 described the most essential risks for the company, and it is the management's opinion that this description is still adequate.
The annual report and the risk assessment can be found on the company's website www.firstfarms.com.
Accounting policies
The interim financial report is prepared in accordance with IAS 34 "Presentation of interim financial reports" as adopted by the EU and Danish disclosure requirements for listed companies.
Accounting policies are unchanged compared to the consolidated financial statement and annual report for 2021, to which is referred.
FirstFarms
FIRSTFARMS
| Financial highlights
mDKK | The Group
H1 2022 | The Group
H1 2021 | The Group
Q2 2022 | The Group
Q2 2021 | The Group
2021 |
| --- | --- | --- | --- | --- | --- |
| Net turnover | 154.7 | 143.4 | 86.9 | 67.2 | 369.5 |
| Gross profit/loss | 102.1 | 87.2 | 54.9 | 42.4 | 184.2 |
| Result before depreciations (EBITDA) | 66.3 | 56.9 | 36.1 | 27.7 | 113.7 |
| Profit/loss from primary operations (EBIT) | 45.2 | 35.9 | 26.2 | 19.8 | 69.9 |
| Net financial items | -4.3 | -10.6 | -2.4 | -5.0 | -24.0 |
| Profit before tax | 40.9 | 25.3 | 23.9 | 14.7 | 45.9 |
| Net profit | 32.8 | 18.8 | 19.2 | 11.0 | 34.8 |
| Non-current assets | 893.4 | 948.5 | 893.4 | 948.5 | 834.7 |
| Current assets | 317.2 | 233.2 | 317.2 | 233.2 | 263.8 |
| Total assets | 1,210.5 | 1,181.7 | 1,210.5 | 1,181.7 | 1,098.5 |
| Share capital | 81.8 | 76.5 | 81.8 | 76.5 | 78.6 |
| Equity | 574.9 | 503.9 | 574.9 | 503.9 | 530.1 |
| Non-current liabilities | 357.8 | 463.6 | 357.8 | 463.6 | 327.7 |
| Current liabilities | 277.9 | 214.2 | 277.9 | 214.2 | 240.7 |
| Net interest bearing debt | 439.1 | 522.6 | 439.1 | 522.6 | 390.4 |
| Cash flow from primary operations | 24.0 | 13.2 | 20.5 | -0.6 | 77.7 |
| Cash flow from operating activities | 14.9 | 1.4 | 15.0 | -7.3 | 46.3 |
| Cash flow from investment activities, net | -71.9 | -10.4 | -28.3 | -7.7 | 109.7 |
| Of which for investment in tangible assets | -77.1 | -15.3 | -31.4 | -8.7 | -72.8 |
| Cash flow from financing activities | 38.9 | 5.0 | 45.5 | 9.0 | -86.2 |
| Total cash flow | -18.1 | 3.9 | 32.2 | 2.0 | 69.7 |
| Gross margin | 66.0 | 60.8 | 63.3 | 63.1 | 49.9 |
| EBITDA margin | 42.9 | 39.7 | 41.6 | 41.2 | 30.8 |
| Operating margin | 29.2 | 25.0 | 30.2 | 29.5 | 18.9 |
| Solvency ratio | 47.9 | 42.6 | 47.9 | 42.6 | 48 |
| Earnings per share, DKK | 4.0 | 2.5 | 2.5 | 1.4 | 4.5 |
| Diluted earnings per share, DKK | 3.5 | 2.2 | 2.1 | 1.3 | 4.1 |
| NIBD/EBITDA | 3.3 | 4.6 | 3.5 | 4.4 | 3.4 |
| Return on shareholders' equity | 11.9 | 7.6 | 13.9 | 8.9 | 6.9 |
| Average number of employees | 320 | 310 | 320 | 312 | 318 |
FIRSTFARMS
EXPECTATIONS
FirstFarms adjusts the announced expectations upwards to an EBITDA in the level of 90-130 mDKK, and an EBIT of 45-85 mDKK.
| Announced expectations 2022 mDKK | EBITDA | EBIT |
|---|---|---|
| 24 August 2022 (company announcement no. 15) | 90-130 | 45-85 |
| 23 March 2022 (company announcement no. 3) | 80-120 | 35-75 |
FIRSTFARMS
MANAGEMENT STATEMENT
The Board of directors and the management of i FirstFarms A/S have today discussed and approved the interim financial report for the period 1 January – 30 June 2022.
The interim financial accounts, which has not been audited or reviewed by the independent auditors of the Company, has been prepared in accordance with IAS 34 – “Interim Financial Reporting” as adopted by the EU and additional Danish disclosure requirements for interim reports of listed companies.
In our opinion the interim financial accounts give a true and fair view of the Group’s assets, liabilities and financial position at 30 June 2022 and of the results of the Group’s operations and cash flows for the period 1 January – 30 June 2022.
Further, in our opinion the Management’s review gives a true and fair overview of the development in the Group’s operations and financial matters, the results of the Group’s operations and the Group’s financial position as a whole.
Billund, 24 August 2022
Management
Anders H. Nørgaard
CEO
Board of directors
Henrik Hougaard
Chairman
Jens Bolding Jensen
Bendt Wedell
Asbjørn Børsting
Vice Chairman
Karina Boldsen
Claus Ewers
FIRSTFARMS
FIRSTFARMS
9
INCOME STATEMENT AND TOTAL INCOME STATEMENT
| INCOMESTATEMENT
tDKK | The Group
H1 2022 | The Group
H1 2021 | The Group
Q2 2022 | The Group
Q2 2021 | The Group
2021 |
| --- | --- | --- | --- | --- | --- |
| Net turnover | 154,712 | 143,384 | 86,865 | 67,186 | 369,483 |
| Public subsidies | 31,315 | 26,764 | 19,113 | 14,575 | 53,436 |
| Other operating income | 5,156 | 2,132 | 3,075 | 804 | 27,279 |
| Value adjustment of biological assets | 19,528 | 23,659 | 3,780 | 10,652 | 6,008 |
| Total income | 210,711 | 195,939 | 112,833 | 93,217 | 456,206 |
| Cost of sales | -72,013 | -73,449 | -39,289 | -32,455 | -197,604 |
| Other external costs | -36,642 | -35,260 | -18,595 | -18,398 | -74,393 |
| Gross profit/loss | 102,056 | 87,230 | 54,949 | 42,364 | 184,209 |
| Staff costs | -35,758 | -30,326 | -18,838 | -14,707 | -70,531 |
| EBITDA | 66,298 | 56,904 | 36,111 | 27,657 | 113,678 |
| Depreciations | -21,057 | -20,993 | -9,869 | -7,869 | -43,746 |
| EBIT | 45,241 | 35,911 | 26,242 | 19,788 | 69,932 |
| Financial income | 4,003 | 379 | 1,150 | 204 | 2,327 |
| Financial costs | -8,328 | -10,976 | -3,516 | -5,251 | -26,345 |
| Pre-tax result | 40,916 | 25,314 | 23,876 | 14,741 | 45,914 |
| Tax on net profit | -8,134 | -6,526 | -4,725 | -3,697 | -11,159 |
| Net profit | 32,782 | 18,788 | 19,151 | 11,044 | 34,755 |
| Earnings per share | 4.01 | 2.45 | 2.06 | 1.44 | 4.51 |
| Diluted earnings per share | 3.45 | 2.19 | 2.07 | 1.26 | 4.06 |
| TOTAL INCOME STATEMENT
tDKK | The Group
Q1 2022 | The Group
Q1 2021 | The Group
2021 | The Group
2021 | The Group
2021 |
| Net profit | 32,782 | 18,788 | 15,742 | 11,044 | 34,755 |
| Other total income | | | | | |
| Items that can be reclassified to teh income statement: | | | | | |
| - Exchange rate adjustments by conversion of foreign units | -3,394 | 1,298 | -3,764 | 3,176 | -139 |
| Hedging instruments | | | | | |
| - Value adjustment for the period | 5,663 | 1,531 | 2,736 | 445 | 1,526 |
| - Value adjustment of reclassified to financial items | -420 | -243 | -195 | 3 | 962 |
| - Tax of other total income | -1,101 | -270 | -761 | -94 | -821 |
| Other total income after tax | 748 | 2,316 | -1,984 | 3,530 | 1,528 |
| Total income | 33,530 | 21,104 | 13,758 | 14,574 | 36,283 |
FIRSTFARMS
BALANCE SHEET
ASSETS
| BALANCE
tDKK | The Group
H1 2022 | The Group
H1 2021 | The Group
2021 |
| --- | --- | --- | --- |
| ASSETS | | | |
| Non-current assets | | | |
| Intangible assets | | | |
| Goodwill | 16,083 | 16,083 | 16,083 |
| Total intangible assets | 16,083 | 16,083 | 16,083 |
| Tangible assets | | | |
| Land | 438,548 | 528,546 | 436,474 |
| Buildings | 200,929 | 233,225 | 208,393 |
| Plant and machinery | 80,891 | 90,140 | 87,417 |
| Fixtures and fittings, tools and equipment | 5,957 | 5,301 | 5,505 |
| Assets under construction and prepayment | 99,966 | 27,107 | 37,488 |
| Total tangible assets | 826,291 | 884,319 | 775,277 |
| Biological assets | | | |
| Basic herd | 45,333 | 42,705 | 40,944 |
| Total biological assets | 45,333 | 42,705 | 40,944 |
| Other non-current assets | | | |
| Deferred tax assets | 5,648 | 5,396 | 2,398 |
| Total other non-current assets | 5,648 | 5,396 | 2,398 |
| Total non-current assets | 893,355 | 948,503 | 834,702 |
| Current assets | | | |
| Inventories | 61,646 | 39,212 | 83,560 |
| Biological assets – breeding and crops | 139,422 | 137,937 | 64,611 |
| Receiveables from sale | 23,299 | 18,900 | 20,946 |
| Other receivables | 31,246 | 31,103 | 14,896 |
| Accruals and deferred expenses | 2,304 | 2,226 | 2,359 |
| Cash at bank and in hand | 59,270 | 3,785 | 77,467 |
| Total current assets | 317,187 | 233,163 | 263,839 |
| TOTAL ASSETS | 1,210,542 | 1,181,666 | 1,098,541 |
FIRSTFARMS
BALANCE SHEET EQUITY AND LIABILITIES
| BALANCE
tDKK | The Group
H1 2022 | The Group
H1 2021 | The Group
2021 |
| --- | --- | --- | --- |
| EQUITY AND LIABILITIES | | | |
| Equity | | | |
| Share capital | 81,804 | 76,540 | 78,610 |
| Reserve for exchange rate adjustment | -41,002 | -36,171 | -37,608 |
| Reserve for cash flow hedge | 3,053 | 0 | -1,421 |
| Transferred result | 531,019 | 463,537 | 483,870 |
| Proposed dividend | 0 | 0 | 6,682 |
| Total equity | 574,874 | 503,906 | 530,133 |
| Liabilities | | | |
| Non-current liabilities | | | |
| Deferred tax | 37,128 | 49,055 | 31,846 |
| Credit institutions | 286,091 | 257,114 | 246,931 |
| Convertible bonds | 22,351 | 107,941 | 22,855 |
| Other debts | 19,190 | 49,443 | 26,083 |
| Total non-current liabilities | 364,760 | 463,553 | 327,715 |
| Current liabilities | | | |
| Credit institutions | 92,450 | 111,376 | 76,189 |
| Convertible bonds | 66,702 | 6,350 | 84,368 |
| Trade payables and other payables | 95,291 | 82,060 | 67,690 |
| Corporation tax | 1,642 | 223 | 766 |
| Accruals and deferred income | 14,823 | 14,198 | 11,680 |
| Total current liabilities | 270,908 | 214,207 | 240,693 |
| Total liabilities | 635,668 | 677,760 | 568,408 |
| TOTAL EQUITY AND LIABILITIES | 1,200,542 | 1,181,666 | 1,098,541 |
FIRSTFARMS
| EQUITY STATEMENT (condensed)tDKK | The GroupH1 2022 | The GroupH1 2021 |
|---|---|---|
| Equity 1 January | 530,133 | 483,477 |
| Result of the period | 32,782 | 18,788 |
| Other total income | 748 | 2,316 |
| Conversion of bonds and issuance of shares | 18,164 | 5,000 |
| Dividend | -6,953 | -5,675 |
| Total income for the period | 44,741 | 20,429 |
| Equity 30 June | 574,874 | 503,906 |
FIRSTFARMS
CASH FLOW STATEMENT
FIRSTFARMS
| CASH FLOW STATEMENT
tDKK | The Group
H1 2022 | The Group
H1 2021 |
| --- | --- | --- |
| Pre-tax result (Int the parent company ex. result of subsidiaries) | 40,916 | 25,314 |
| Adjustments for non-monetary operating items etc.: | | |
| Depreciation/amortisation | 21,058 | 20,966 |
| Reversal of profit, sale of non-current assets and badwill | -3,028 | -852 |
| Value adjustment of biological assets | -19,528 | -23,659 |
| Financial income | -4,003 | -379 |
| Financial costs | 8,328 | 10,976 |
| Sharebased remuneration | 191 | 150 |
| Cash flow generated from operations before change in working capital | 43,934 | 32,516 |
| Change in working capital | -19,979 | -19,347 |
| Cash flow from main activities | 23,955 | 13,169 |
| Interest received | 4,003 | 379 |
| Interest paid | -8,328 | -10,976 |
| Paid corporation tax | -4,700 | -1,138 |
| Cash flow from operating activities | 14,930 | 1,434 |
| Disposal of material assets, paid | 5,116 | 4,944 |
| Acquisition of tangible assets | -77,059 | -15,343 |
| Cash flow from investing activities | -71,943 | -10,399 |
| Paid dividend | -6,953 | -5,675 |
| Proceeds from other debts | -6,911 | -6,707 |
| Proceeds from loans | 72,529 | 34,860 |
| Loan repayment | -19,767 | -17,482 |
| Cash flow from financing activities | 38,898 | 4,996 |
| Cash flow of the period | -18,114 | -3,969 |
| Available, at the beginning | 77,467 | 7,753 |
| Exchange rate adjustment of available | -83 | 1 |
| Available, at closing | 59,270 | 3,785 |
14
| SEGMENT INFORMATION H1 2022
IDKK | Romanian activities | Slovakian activities | Hungarian activities | Czech activities | Others/ Non-allocated | Intercompany elimation | Total |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Total turnover | 5,745 | 95,687 | 17,882 | 40,202 | 4,470 | -9,274 | 154,712 |
| Grants | 5,355 | 20,736 | 1,050 | 4,174 | 0 | 0 | 31,315 |
| Value adjustment of biological assets | -4,000 | 16,202 | 3,672 | 3,654 | 0 | 0 | 19,528 |
| Result before depreciations (EBITDA) | 3,663 | 47,929 | 3,638 | 13,463 | -2,395 | 0 | 66,298 |
| Depreciations | -4,028 | -13,772 | -1,210 | -2,034 | -14 | 0 | -21,058 |
| Profit/los from primary operations (EBIT) | -365 | 34,157 | 2,428 | 11,429 | -2,408 | 0 | 45,241 |
| Financial income | 68 | 854 | 710 | 55 | 5,593 | -3,277 | 4,003 |
| Financial costs | -298 | -4,626 | -978 | -974 | -4,729 | 3,277 | -8,328 |
| Result before tax | -595 | 30,385 | 2,160 | 10,510 | -1,544 | 0 | 40,916 |
| Assets | 204,643 | 769,189 | 171,132 | 182,817 | 696,197 | -813,436 | 1,210,542 |
| Plant investments ) | 4,492 | 21,821 | 48,846 | 1,655 | 245 | 0 | 77,059 |
| Liabilities | 115,350 | 432,796 | 165,134 | 73,637 | 156,204 | -307,453 | 635,668 |
| SEGMENT INFORMATION H1 2021
IDKK | Romanian activities | Slovakian activities | Hungarian activities | Czech activities | Others/ Non-allocated | Intercompany elimation | Total |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Total turnover | 10,255 | 83,615 | 19,331 | 36,395 | 1,382 | -7,594 | 143,384 |
| Grants | 5,257 | 16,553 | 976 | 3,978 | 0 | 0 | 26,764 |
| Value adjustment of biological assets | 10,000 | 10,028 | 2,712 | 919 | 0 | 0 | 23,659 |
| Result before depreciations (EBITDA) | 12,263 | 35,824 | 5,364 | 7,726 | -4,274 | 0 | 56,903 |
| Depreciations | -2,486 | -14,903 | -1,349 | -2,205 | -50 | 0 | -20,993 |
| Profit/los from primary operations (EBIT) | 9,777 | 20,921 | 4,015 | 5,521 | -4,324 | 0 | 35,910 |
| Financial income | 29 | 1,762 | 24 | 36 | 0 | 0 | 1,851 |
| Financial costs | -399 | -4,712 | -587 | -622 | -6.127 | 0 | -12,447 |
| Result before tax | 9,407 | 17,971 | 3,452 | 4,935 | -10,451 | 0 | 25,314 |
| Assets | 332,111 | 665,468 | 87,834 | 163,931 | 675,286 | -742,964 | 1,181,666 |
| Plant investments ) | 859 | 8,428 | 5,863 | 193 | 0 | 0 | 15,343 |
| Liabilities | 172,584 | 428,059 | 64,292 | 68,935 | 202,893 | -259,003 | 677,760 |
*) Investments include investments in machinery, land and buildings. FirstFarms' report compulsory segments are constituted by the business units in Slovakia, Romania, Hungary and the Czech Republic.
In Slovakia, we operate within pig, milk and crop production. In Romania, we operate within crop production. In Hungary we operatewithin pig production and in the Czech Republic within pig and crop production.
The four business units are operated independently, as each unit has different management, activities and customers. The report compulsory segments are identified without aggregation of operation segments.
Products
FIRSTFARMS
FirstFarms' turnover primarily concerns milk, pigs and crops. The turnover is specified:
| tDKK | Romania H1 2022 | Romania H1 2021 | Slovakia H1 2022 | Slovakia H1 2021 | Hungary H1 2022 | Hungary H1 2021 | Czech H1 2022 | Czech H1 2021 |
|---|---|---|---|---|---|---|---|---|
| Milk | 0 | 0 | 53,284 | 37,166 | 0 | 0 | 0 | 0 |
| Cows and calves | 0 | 0 | 7,007 | 1,915 | 0 | 0 | 0 | 0 |
| Piglets and slaughter pigs | 0 | 0 | 25,457 | 21,867 | 17,850 | 19,283 | 37,514 | 32,522 |
| Crops | 4,906 | 10,243 | 8,816 | 20,310 | 0 | 0 | 0 | 21 |
| Other turnover | 839 | 12 | 1,123 | 2,357 | 32 | 48 | 2,688 | 3,852 |
| Total | 5,745 | 10,255 | 95,687 | 83,615 | 17,882 | 19,331 | 40,202 | 36,395 |
Geographical information
FirstFarms operates in Romania, Slovakia, Hungary and the Czech Republic. Management and strategic services are provided by the parent company to the subsidiaries.
The subsidiaries are partly financed by loans from the parent company. When presenting information on geographical areas, information on the distribution of turnover by geographic segment is calculated based on the geographical location.
Distribution of assets by geographic segment is based on the physical location of the assets.
| Turnover tDKK | The Group H1 2022 | The Group H1 2021 |
|---|---|---|
| Milk | 53,284 | 37,166 |
| Cows and calves | 7,007 | 1,915 |
| Piglets and slaughter pigs | 76,477 | 66,314 |
| Crops | 13,722 | 30,574 |
| Other turnover | 4,222 | 7,415 |
| Total | 154,712 | 143,384 |
FIRSTFARMS
INVESTOR INFORMATION
Basic data
| Stock exchange: | Nasdaq Copenhagen A/S | Financial calendar | |
|---|---|---|---|
| Index: | SmallCap | 23 March 2022 | Annual report 2021 |
| Sector: | Consumer staples | 26 April 2022 | Annual general meeting |
| ISIN code: | DK0060056166 | 31 May 2022 | Interim financial report 1 January – 31 March 2022 |
| Short name: | FFARMS | 24 August 2022 | Interim financial report 1 January – 30 June 2022 |
| 23 November 2022 | Interim financial report 1 January – 30 September 2022 |
Contact us:
FirstFarms A/S
Majsmarken 1
7190 Billund
Group CFO Michael Hyldgaard
[email protected]
+45 75 86 87 87
Find more information about FirstFarms here: www.firstfarms.com
FirstFarms
FIRSTFARMS
LET'S GROW TOGETHER
VISION
We want to be one of Europe's best operated and most profitable companies in the area of agriculture and food products.
WHY
Based on professional management and best practice, we acquire, develop and operate our business in the area of agriculture and food products.
We ensure attractive return on the operation and increase in value for our investors. We are focused on risk diversification of products and branches of operation.
MISSION
We operate FirstFarms with responsibility for the surrounding communities, and we deliver highest quality which is primarily sold locally.
We act on new opportunities, that create value for our investors and for the surroundings.
Every day, we work on creating a more sustainable company.
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FirstFarms A/S · Majsmarken 1 · DK-7190 Billund · CVR no.: 28 31 25 04 · Tel: +45 75 86 87 87 · www.firstfarms.com