Brief: ForFarmers Sees 2020 Underlying EBITDA And Net Profit Exceed 2019 Results

ForFarmers NV

30/10/2020 06:14

Oct 30 (Reuters) - FORFARMERS NV  FFARM.AS :
    * FORFARMERS N.V.: FORFARMERS THIRD QUARTER 2020 TRADING
UPDATE
    * QRTRLY VOLUME TOTAL FEED: DOWN (-2.8%); SMALLER DECLINE
THAN IN
H1-2020
    * FORECASTS THAT UNDERLYING EBITDA AND NET PROFIT IN 2020
WILL
COMFORTABLY EXCEED THE WEAK RESULT IN 2019
    * OBJECTIVE IS TO REDUCE OPERATING COSTS BY €7 MILLION, OF
WHICH
THE FULL EFFECT WILL BE VISIBLE IN 2023
    * QRTRLY GROSS PROFIT: DOWN (-6.8%); SPECIFICALLY DUE TO
VOLUME
DECLINE
    * QRTRLY UNDERLYING EBITDA: DOWN (-9.4%); LOWER OPERATING
EXPENSES
COULD NOT COMPENSATE GROSS PROFIT DECLINE

Source text for Eikon:  ID:nGNE6MFJcQ 
Further company coverage:  FFARM.AS 

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