Pressmeddelanden, rapporter och bolagsmeddelande för FirstFarms

FirstFarms A/S has announced its financial calendar for 2025. Shareholders must submit proposals for discussion at the annual general meeting by March 18, 2025, with the meeting scheduled for April 29, 2025. FirstFarms is a Danish publicly listed company focused on responsible operations and sustainability, aiming to provide high-quality products primarily sold locally while creating value for investors and communities. For more information, visit their website or contact CEO Anders H. Nørgaard.

FirstFarms A/S reported its unaudited interim financial results for January to September 2024, noting that extreme weather negatively impacted outcomes. Turnover decreased by 5% due to challenging cultivation conditions, shifts in crop delivery times, and a temporary decline in milk production. Despite this, the company's strategic focus on efficiency, circularity, land ownership, and risk diversification resulted in an EBITDA higher than the previous year. However, pre-tax profit was lower due to increased financial costs. Investments in irrigation in Romania proved successful, with significantly higher maize yields under irrigation. Consequently, FirstFarms plans further irrigation investments and increased silo capacity, expecting positive impacts on 2025 earnings. Piglet and pig prices saw a decline, while milk prices remained satisfactory despite a temporary production drop due to heat stress. Construction of a new dairy in Slovakia began, aimed at producing cream and concentrated milk products for European food producers, with operations set to start in mid-2025. CEO Anders H. Nørgaard expressed optimism about future growth and strategy execution, with long-term goals to increase turnover and EBITDA by 2028. Expectations for 2024 include an EBITDA of 90-100 mDKK and an EBIT of 30-40 mDKK.

FirstFarms announced that CEO Anders H. Nørgaard will resign effective August 31, 2025. He, along with management team members Søren Bredvig and Michael Hyldgaard, will continue as CEO until a successor is appointed. Nørgaard, who has been CEO since 2012, has significantly contributed to transforming FirstFarms, positioning it well for future growth until 2028. Chairman Henrik Hougaard expressed gratitude for Nørgaard's contributions and wished him success in his new role. Nørgaard thanked the board and employees, expressing pride in developing FirstFarms into a modern agricultural and food company with a strong financial foundation. FirstFarms is a Danish company focused on sustainable and high-quality local products.

FirstFarms A/S reports transactions involving its shares and associated securities conducted by managerial staff and their related parties, in accordance with the Market Abuse Regulation and a power of attorney granted to Thoraso Holding ApS. Details are provided in the attached forms. FirstFarms is a Danish company listed on the stock exchange, focused on responsible operations, local sales, and sustainability. For more information, visit their website or contact CEO Anders H. Nørgaard.

FirstFarms has reported its interim financial results for the first half of 2024. Despite an 8% increase in turnover, driven primarily by increased piglet sales from new productions in Hungary, the company has adjusted its earnings expectations downward by 20 million DKK for the year due to low crop prices and limited rainfall. The company's EBITDA remains acceptable, although earnings before tax have decreased due to high interest rates and inflation. FirstFarms has expanded its land portfolio by 325 hectares and continues to focus on sustainability and efficiency. The company maintains a strong financial foundation and liquidity readiness, with long-term goals to significantly increase annual turnover and EBITDA by 2028. CEO Anders H. Nørgaard expressed satisfaction with maintaining an acceptable EBITDA and increasing turnover despite challenging conditions.

The Group CEO, Group CFO, and seven employees of FirstFarms A/S have chosen to utilize warrants issued in 2020 and 2021, as per previous company announcements. Shares are being acquired at prices specified in the warrant agreements from March 2020 (56.40 DKK), October 2020 (55.85 DKK), and April 2021 (67.83 DKK). A total of 5,559,190 DKK will be paid for the utilization of these warrants. According to EU Regulation 596/2014 Article 19, FirstFarms A/S is required to report transactions by senior executives and their closely related parties involving the company's shares or related securities. Detailed reports for the Group's CEO and CFO are attached. For more information, visit FirstFarms' website or contact CEO Anders H. Nørgaard. FirstFarms is a Danish stock exchange-listed company focused on responsible operations and delivering high-quality products, primarily sold locally, while pursuing opportunities that create value for investors and the community.

FirstFarms A/S held its annual general meeting where the company's activity report and audited annual report for 2023 were approved. The company's profit of 26.042 mDKK will be carried forward to the next year. The board's remuneration for 2024 and the remuneration report for 2023 were also approved. The board was expanded from 6 to 7 members with Lise Kaae joining. The board has been authorized to increase the company's share capital, issue convertible bonds, and acquire own shares. The board was reconstituted with Henrik Hougaard as Chairman and Asbjørn Børsting as Vice Chairman. PricewaterhouseCoopers was re-elected as the company's auditor.