Brief: ForFarmers H1 Underlying EBITDA Up At EUR 43.1 Mln

ForFarmers NV

11/08/2022 05:34

Aug 11 (Reuters) - FORFARMERS NV  FFARM.AS :
    * FINANCIAL HIGHLIGHTS FOR FIRST-HALF OF 2022
    * H1 UNDERLYING EBITDA: +5.6% TO €43.1 MILLION; HIGHER GROSS
PROFIT AND EFFICIENCY MEASURES
    * H1 UNDERLYING NET PROFIT: -4.5% TO €17.1 MILLION; MAINLY
DUE TO
INCREASED INTEREST EXPENSES AND HIGHER EFFECTIVE TAX RATE
    * H1 TOTAL FEED VOLUME: -7.4% TO 4.5 MILLION TONNES; DUE TO
LIKE-FOR-LIKE DECLINE IN ALL CLUSTERS
    * OUR TOTAL VOLUMES FELL, MAINLY DUE TO A DECLINE IN THE PIG
SECTOR IN NETHERLANDS/BELGIUM AND THE UNITED KINGDOM, WHEREAS
POULTRY VOLUMES IN POLAND GREW - CEO
    * WE CONSIDER IT UNWISE TO PROVIDE ANY GUIDANCE ABOUT
EXPECTED
DEVELOPMENT OF RESULTS IN H2 OR A POSSIBLE RESUMPTION OF SHARE
BUY-BACK PROGRAMME
    * PROSPECTS: WE NEED TO CONSIDER A POSSIBLE NEW COVID WAVE
AND THE
LOW WATER LEVELS IN THE RIVERS IN THE NETHERLANDS - CEO
    * H1 TOTAL REVENUE ROSE BY 21.5% TO €1,597 MILLION

Source text: https://bit.ly/3PahOFe
Further company coverage:  FFARM.AS 

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