Annual report 2018 for FirstFarms A/S

FirstFarms A/S had a good 2018 and expects continued progress in 2019 In 2018, FirstFarms realised a turnover of DKK 248.9 million and an EBITDA of DKK 57.5 million, which is a growth of 30 percent in turnover and 31 percent in EBITDA. The progress is mainly due to the company's growth strategy.Thus, FirstFarms achieved the first part of the company's goal to become one of Europe's best agricultures in terms of turnover and efficiency. The agricultural production in Eastern Europe is...

Billund, 26/03/2019 (informazione.news - comunicati stampa - cibi e bevande)

FirstFarms A/S had a good 2018 and expects continued progress in 2019

In 2018, FirstFarms realised a turnover of DKK 248.9 million and an EBITDA of DKK 57.5 million, which is a growth of 30 percent in turnover and 31 percent in EBITDA. The progress is mainly due to the company's growth strategy.

Thus, FirstFarms achieved the first part of the company's goal to become one of Europe's best agricultures in terms of turnover and efficiency. The agricultural production in Eastern Europe is in good development, the price on land increasing and the demand for pork is big.

FirstFarms A/S continues in 2019 the execution of the company's growth strategy and expects a strong 2019 with a growth in EBITDA result to the level of DKK 55-60 million and an EBIT result to the level of DKK 25-30 million.

Summary
The Board of Directors and Management of FirstFarms A/S has today reviewed and adopted the annual report for 2018.

2018: Turnover increased by 30 percent and EBITDA with 31 percent

2019: Expectations
FirstFarms expects a strong 2019 with a growth in EBITDA result to the level DKK 55-60 million and i EBIT result to the level DKK 25-30 million.

We expect, that 2019 will be a lucrative stable year for milk- and crop production in EU. Due to the current market situation, we must expect that the pig production in first half of 2019 will be challenged with low sales prices and high feed prices, but we also expect that the prices will improve in second half year of 2019.

An important focus area for FirstFarms in 2019 will be to work on expanding the pig production with more produced piglets and slaughter pigs and optimising the operation in the milk production. We expect to expand the crop production with a smaller area, just as we will expand our storage facilities for crops, so we can increase the value of a larger part of the sales crops.

FirstFarms' annual report can be seen in its full length in the attached document/link (88 pages).

Best regards,
FirstFarms A/S

For further information :
Please visit our website www.firstfarms.com or contact CEO Anders H. Nørgaard on telephone +45 75 86 87 87.

About FirstFarms:
FirstFarms is a Danish stock exchange listed company, which purchases and operates agriculture in Eastern Europe. We develop the individual farms to modern and sustainable businesses that deliver milk, meat and grains of the highest quality to the dinner tables all over the world.

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