Brief: Forfarmers Q3 Underlying EBITDA Down 22%

ForFarmers NV

02/11/2021 06:04

Nov 2 (Reuters) - ForFarmers NV  FFARM.AS :
    * FORFARMERS THIRD QUARTER 2021 TRADING UPDATE
    * Q3 UNDERLYING EBITDA: DOWN BY 22.0%
    * DURING THIS QUARTER WE HAVE ALSO MADE PROGRESS WITH
STRUCTURAL
COST SAVINGS AS PART OF OUR EFFICIENCY PROGRAMME
    * WE ALSO INTEND TO DISTRIBUTE A DIVIDEND PER ORDINARY SHARE
OVER
YEAR 2021, WHICH IS COMPARABLE TO DIVIDEND OVER 2020
    * INCREASE OF ENERGY PRICES WAS SO SUBSTANTIAL THAT THIS HAS
LED
TO A SIGNIFICANT DECREASE OF UNDERLYING EBITDA
    * HOW ENERGY PRICES IN PARTICULAR WILL DEVELOP IS
UNPREDICTABLE
    * WE THEREFORE REFRAIN FROM PROVIDING AN OUTLOOK FOR RESULTS
IN Q4
OF 2021
    * AIM TO ENHANCE OUR POSITIONS THROUGH M&A, IN OUR HOME
COUNTRIES
BUT ALSO POSSIBLY BEYOND
    * WE ARE ALSO LOOKING AT ALTERNATIVES FOR CAPITAL ALLOCATION
    * Q3 GROSS PROFIT: UP BY 2.6%; DUE TO ACQUISITIONS AND
BETTER
PRODUCT MIX WITH MORE COMPOUND FEED
    * Q3 VOLUME COMPOUND FEED: UP BY 1.0%; DUE TO ACQUISITIONS
AND
LIKE-FOR-LIKE GROWTH IN GERMANY/POLAND, DECLINE ELSEWHERE

Source text for Eikon:  ID:nGNE1Ts15d 
Further company coverage:  FFARM.AS 

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