Brief: ForFarmers FY Underlying Net Profit Down At 29 Million Euros

ForFarmers NV

24/02/2022 06:13

Feb 24 (Reuters) - ForFarmers NV  FFARM.AS :
    * FY REVENUE: +13.5% TO €2,671 MILLION DUE TO ACQUISITIONS
AND
PARTLY PASSING ON HIGHER PRICES OF RAW MATERIALS
    * FY UNDERLYING EBITDA: -18.7% TO €78.2 MILLION; HIGHER
ENERGY
COSTS COULD NOT BE FULLY PASSED ON IN THE CHAIN
    * FY UNDERLYING NET PROFIT: -37.4% TO €29.0 MILLION
    * DIVIDEND PROPOSAL: €0.29 PER ORDINARY SHARE; €0.19 REGULAR
DIVIDEND EQUATING TO 60% DISTRIBUTION AND €0.10 SPECIAL DIVIDEND
(2020: €0.29)
    * WE EXPECT RAW MATERIAL AND ENERGY PRICES TO REMAIN HIGH,
GIVEN
THE WORRYING POLITICAL SITUATION BETWEEN RUSSIA AND UKRAINE
    * EXPECT CONTINUED PRESSURE ON MARGIN AND COSTS DURING 2022,
CONSEQUENTLY ON UNDERLYING EBITDA, WHICH WILL SHOW A SUBSTANTIAL
DECLINE (YOY) IN H1 2022 IN PARTICULAR

Source text for Eikon:  ID:nGNEphrBJ 
Further company coverage:  FFARM.AS 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))