Brief: ForFarmers Q1 Underlying EBITDA Down By 47.2%

ForFarmers NV

05/05/2022 06:23

May 5 (Reuters) - ForFarmers NV  FFARM.AS :
    * FORFARMERS FIRST QUARTER 2022 TRADING UPDATE
    * Q1 VOLUME TOTAL FEED : DOWN BY -7.3%; DECLINE IN ALL
COUNTRIES
EXCEPT POLAND OF WHICH COMPOUND FEED: DOWN BY 8.2%
    * Q1 GROSS PROFIT: UP BY 9.3%; COMPARED TO WEAK GROSS PROFIT
IN Q1
OF 2021
    * Q1 UNDERLYING EBITDA: DOWN BY 47.2%
    * ANNOUNCED THAT UNDERLYING EBITDA IN THE FIRST HALF OF 2022
WOULD
BE SUBSTANTIALLY LOWER (Y-O-Y) AS A RESULT OF THE EXPECTATION
THAT RAW MATERIAL PRICES WOULD REMAIN HIGH
    * Q1:  WE COULD NOT FULLY PASS ON PRICE INCREASES OF RAW
MATERIALS
AND ENERGY, WHICH WERE EVEN HIGHER THAN EXPECTED DUE TO OUTBREAK
OF RUSSIA-UKRAINE WAR
    * OUTLOOK: PARTLY IN VIEW OF THE FACT THAT IN THE MEANTIME
THE WAR
IN UKRAINE HAS BROKEN OUT, THIS EXPECTATION REMAINS UNABATED
    * AS A RESULT OF THE EXPECTATION THAT RAW MATERIAL PRICES
WILL
REMAIN HIGH, IT WILL NOT BE POSSIBLE TO FULLY PASS THESE PRICE
INCREASES ON IN THE CHAIN

Source text for Eikon:  urn:newsml:reuters.com:*:nGNE9lH5sZ
Further company coverage:  FFARM.AS 

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