Company announcement no 7/2019 Interim Report Q1 2019

Interim Report Q1 2019 EBITDA fixed herd prices (FHP) for Q1 2019 decreased to 745 kEUR (Q1 2018: 3,017 kEUR), corresponding to an EBITDA margin FHP of 3.2% (Q1 2018: 12.9%). The quarterly EBITDA in Q1 2019 declined compared to Q1 2018 with 2,272 kEUR, the decrease is mainly driven by increasing feed prices (1,3 mEUR).Outlook is positive as sales prices have been increasing especially in Europe (and Lithuania) group average sales price was 1,05 EUR in Q1 and 1,29 EUR in April, sales...

Interim Report Q1 2019

EBITDA fixed herd prices (FHP) for Q1 2019 decreased to 745 kEUR (Q1 2018: 3,017 kEUR), corresponding to an EBITDA margin FHP of 3.2% (Q1 2018: 12.9%). The quarterly EBITDA in Q1 2019 declined compared to Q1 2018 with 2,272 kEUR, the decrease is mainly driven by increasing feed prices (1,3 mEUR).

Outlook is positive as sales prices have been increasing especially in Europe (and Lithuania) group average sales price was 1,05 EUR in Q1 and 1,29 EUR in April, sales volume in Q1 was 21 mio. kg.

The herd valuation in Q1 increased with 1,162 kEUR (compared to Q4 2018), the increase was driven by increasing prices in Lithuania (and Europe).

Free cash flow was -2,601 kEUR in Q1 2019 (Q1 2018: 1,388 kEUR).

Construction in Luga is progressing according to plan, the first pigs have been transferred to the site in May and are expected sold in Q3 2019

Further information

Bondholders - Claus Baltsersen, CEO phone +370 (685) 34 104
Media - Jytte Rosenmaj, Deputy Chairman phone +45 26 73 46 99

Attachment

• Company announcement no 7 2019 Idavang Interim Report