Brief: Forfarmers H1 Underlying EBITDA Down At 40.8 Million Euros

ForFarmers NV

13/08/2021 06:28

Aug 13 (Reuters) - ForFarmers NV  FFARM.AS :
    * FORFARMERS 2021 FIRST-HALF RESULTS
    * H1 GROSS PROFIT -0.9% TO €217.5 MILLION AS A RESULT OF
INCREASED
COMPETITION DUE TO COVID AND VOLUME DECLINE (L-F-L)
    * H1 UNDERL EBITDA -15.4% TO €40.8 MILLION DESPITE
CONTRIBUTION
FROM ACQUISITIONS DUE TO LOWER GROSS PROFIT AND HIGHER ENERGY
AND FUEL COSTS; NO CURRENCY TRANSLATION EFFECT
    * H1 UNDERLYING NET PROFIT: -26.6% TO EUR 17.9 MILLION
    * H1 CASH FLOW FROM OPERATING ACTIVITIES: -35.9% TO €9.1
MILLION;
DRIVEN BY LOWER EBITDA
    * INTEGRATION OF TWO ACQUISITIONS IS PROGRESSING ACCORDING
TO PLAN
AND RESULTS ACHIEVED SO FAR HAVE BEEN BETTER THAN EXPECTED
    * WE EXPECT H2 UNDERLYING EBITDA (INCLUDING ACQUISITIONS) TO
BE
MORE OR LESS IN LINE WITH THE UNDERLYING EBITDA IN 2H 2020
    * UNDERLYING EBITDA IN 2025 OF IN BETWEEN €125 MILLION AND
€135
MILLION8 , BOTH BY MEANS OF LIKE-FOR-LIKE GROWTH AND THROUGH
ACQUISITIONS
    * AT LEAST €10 MILLION OPERATING COST SAVINGS IN 2025
(COMPARED TO
NORMALISED LEVEL OF 2020)

Source text for Eikon:  ID:nGNE2BZY8r 
Further company coverage:  FFARM.AS 

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