Brief: ForFarmers Q1 Underlying EBITDA Down 12.8%

ForFarmers NV

06/05/2021 06:08

May 6 (Reuters) - ForFarmers NV  FFARM.AS :
    * Q1 UNDERLYING EBITDA: DOWN (-12.8%); DUE TO GROSS PROFIT
DECLINE
AND DESPITE LIKE-FOR-LIKE COST SAVINGS
    * Q1 TOTAL FEED VOLUME GREW BY 1.8% AND COMPOUND FEED VOLUME
BY
1.0%
    * Q1 GROSS PROFIT: DOWN (-2.8%)
    * UNDERLYING EBITDA IN 2025 OF IN BETWEEN €125 MILLION AND
€135
MILLION, BOTH BY MEANS OF ORGANIC GROWTH AND THROUGH
ACQUISITIONS
    * OBJECTIVES 2025: SEES ANNUAL LIKE-FOR-LIKE IMPROVEMENT OF
UNDERLYING EBITDA OF 0%-3% (AS OF 2020) IN CHALLENGING HOME
COUNTRIES
    * OUTLOOK: AT LEAST €10 MILLION OPERATING COST SAVINGS IN
2025
(COMPARED TO NORMALISED4 LEVEL OF 2020)
    * EXPECTS THAT IT WILL BE CHALLENGING TO FULLY NEUTRALISE
(LIKE-FOR-LIKE) IN THE SECOND HALF OF 2021 THE ESTIMATED DECLINE
OF UNDERLYING EBITDA IN THE FIRST HALF OF 2021
    * ANTICIPATES FOR 2021, THAT IT MAY NOT MEET THE OBJECTIVE
TO
REALISE A LIKE-FOR-LIKE IMPROVEMENT OF UNDERLYING EBITDA BY
0%-3%

Source text for Eikon:  ID:nGNE1DgQN7 
Further company coverage:  FFARM.AS 

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