Company announcement no 12/2018 - Interim Report Q3 2018

Interim Report Q3 2018

EBITDA fixed herd prices (FHP) for Q3 2018 decreased to 5,470 kEUR (Q3 2017: 7,348 kEUR), corresponding to an EBITDA margin FHP of 20.7% (Q3 2017: 25.7%). Decline in the quarterly EBITDA in Q3 2018 compared to Q3 2017 of 1,878 kEUR is mainly a mix of negative price effect on sales prices/feed prices (of 3,577 kEUR) and positive of harvest effect compared to Q3 2017 (of 1,728 kEUR).

The lower average prices on live pigs end Q3 2018 compared to Q2 2018 had a negative impact on herd valuation in Q3 with -2,757 kEUR (-3,185kEUR for Q2 2017, respectively).  Free cash flow was -19 kEUR in Q3 2018 (Q3 2017: 6.478 kEUR).

Harvest did result in poor yields, but due to higher prices than last year EBITDA Q3 is still 1,728 kEUR better than Q3 2017, harvest is in 2017 Q3 included with 1,057 kEUR.

Insurance payment, most of payment relating to ASF outbreak has been received after 30 September (1,9 mEUR received).

Selected financial highlights and key ratios

Further information

Bondholders - Claus Baltsersen, CEO phone +370 (685) 34 104

Media - Jytte Rosenmaj, Deputy Chairman phone +45 26 73 46 99

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