Interim financial report for 1 January

High prices and effective production secure a good half year result and upward adjustment

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.

The Board of Directors and Management of FirstFarms A/S have today reviewed and adopted the unaudited interim financial accounts for the period 1 January – 30 June 2022.

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)

FirstFarms adjusts the previously announced 2022-expectations upwards to an EBITDA of 90-130 mDKK and an EBIT of 45-85 mDKK.

CEO Anders H. Nørgaard says:
“It is a satisfactory result, 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.”

Operation branches
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…