ForFarmers N.V.: ForFarmers first quarter 2022 Trading Update
Lochem, 5th of May 2022
ForFarmers first quarter 2022 Trading Update
Highlights first quarter 20221 :
- Volume Total Feed2 : down by -7.3%; decline in all countries except Poland
of which compound feed: down by 8.2%
- Gross profit: up by 9.3%; compared to weak gross profit in first quarter of 2021
- Underlying EBITDA: down by 47.2% ; substantially higher prices for raw materials, energy and diesel could not be passed on fully in the chain.
Roeland Tjebbes, CFO and ad-interim CEO of ForFarmers: “The first quarter of 2022 was mainly dominated by the shocking invasion of Ukraine by Russia resulting in awful human suffering. The war also impacts the availability of raw materials, a situation which we are continuously monitoring. Up to now we have succeeded in continuing to supply feed to our customers and based on the current insights we can continue to do so. In line with our previously stated expectations, we could not fully pass on the price increases of raw materials and energy, which were eve higher than expected due to the outbreak of the war. As result, we realised a substantially lower underlying EBITDA in the past quarter despite continued cost savings. Recently, we see some movement in the food chain to make consumers pay for the heavily oppressive energy and fuel costs. It is, however, too soon to draw any conclusions from this. In the meantime, the European agricultural sector is fully committed to continuing to ensure food security in a sustainable way. We contribute to this by providing innovative solutions for livestock farmers to help them improve their production and returns on-farm while decreasing their footprint at the same time. This remains the core of our strategy, of which the review is progressing smoothly. We expect to communicate more about this after the summer, following the appointment of Chris Deen by the general meeting of shareholders.”
1. Results and developments of the first quarter 2022 are compared to those of the first quarter 2021, unless stated differently
2. Total Feed covers the entire ForFarmers product portfolio and comprises compound feed, specialties, co-products (from the feed industry, referred to as DML products), seeds and other products (such as forage)
This press release contains information that qualifies as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
Read the full press release on the website or open the pdf via the link at the bottom of this message.
AttachmentTo view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.
About GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
FRO – Private acquisitions of Euronav shares in exchange for Frontline shares completed28.5.2022 12:01:09 CEST | Press release
FRO – Private acquisitions of Euronav shares in exchange for Frontline shares completed Frontline Ltd. (“Frontline” or the "Company") (NYSE: FRO – OSE: FRO) announces that it has agreed to acquire a total of 5,955,705 shares in Euronav N.V. (NYSE: EURN & Euronext: EURN) (“Euronav”) representing 2.95% of the outstanding shares in privately negotiated share exchange transactions with certain shareholders of Euronav N.V. where such shareholders of Euronav N.V. receive consideration shares in Frontline. Frontline will issue a total of 8,337,986 new shares as a result of these transactions, equivalent to an exchange ratio of 1.4. Frontline will be entitled to the declared USD 0,06 dividend to be paid by Euronav on the acquired shares on 8 June 2022. Settlement is expected to take place on or about 1 June 2022 by delivery of existing shares through a share lending arrangement with Frontline's main shareholder Hemen Holding Ltd. Following completion of the issue of the new Frontline shares, F
FDA approves Novartis Kymriah® CAR-T cell therapy for adult patients with relapsed or refractory follicular lymphoma28.5.2022 00:58:29 CEST | Press release
68% of patients receiving Kymriah in the ELARA trial experienced complete response, with an 86% overall response rate, along with a remarkable safety profile1 Sustained clinical benefit from Kymriah treatment demonstrated – of patients who achieved a complete response, 85% were still in response at 12 months1 Kymriah can be administered in the outpatient setting, offering increased flexibility and potentially reducing the burden of therapy for patients and their care teams1,2 Kymriah is now FDA approved in three indications and remains the only CAR-T cell therapy approved in both adult and pediatric settings1 Basel, May 28, 2022 — Novartis today announced the US Food and Drug Administration (FDA) has granted accelerated approval for Kymriah® (tisagenlecleucel) for the treatment of adult patients with relapsed or refractory (r/r) follicular lymphoma (FL) after two or more lines of systemic therapy. In accordance with the Accelerated Approval Program, continued approval for this indicati
ObsEva Announces Corporate Updates27.5.2022 22:01:00 CEST | Press release
Ad hoc announcement pursuant to Art. 53 LR of the SIX Swiss Exchange GENEVA, Switzerland– May 27, 2022 – ObsEva SA (NASDAQ: OBSV; SIX: OBSN), a biopharmaceutical company developing and commercializing novel therapies for women’s health, announced today that it has entered into a waiver and amendment agreement (Amendment Agreement) with respect to its amended and restated securities purchase agreement (Securities Purchase Agreement) with certain funds and accounts managed by JGB Management, Inc. (JGB), which is structured to provide up to $135 million in borrowing capacity, available in nine tranches. The third tranche under the Securities Purchase Agreement was due to be funded on May 25, 2022. However, the tranche has not been funded as a result of ObsEva not meeting the funding condition that its volume-weighted average share price would not trade below $3.00 per share for five or more trading days during the 30 days prior to the funding date for the third tranche. Pursuant to the Am
CONDITIONS FOR PURCHASES OF CORPORATE BONDS27.5.2022 16:20:00 CEST | Press release
Bid procedure, 2022-06-01BondsBonds issued in SEK by Swedish non-financial undertakings. The following bonds are eligible for delivery: HEMSO FASTIGHETS AB: XS2173253407, 2025-05-13 HEMSO FASTIGHETS AB: XS2269194572, 2023-12-07 VASAKRONAN AB: SE0010599183, 2023-12-20 VASAKRONAN AB: XS2391917205, 2025-03-28 ESSITY AB: XS2355204608, 2025-01-17 SCANIA CV AB: XS2297918349, 2023-11-11 SCANIA CV AB: XS2382157571, 2024-09-02 ELECTROLUX AB: XS2152294679, 2023-04-06 ELECTROLUX AB: XS1969611943, 2024-03-27 Delivery of a Bond may not occur if the Counterparty has purchased the Bond from the issuer more recently than one month prior to the date of announcement of the Special terms, that is, the purchase may not have taken place after: 2022-04-27Bid date2022-06-01Bid times10.30-11.30 (CET/CEST) on the Bid dateRequested volume (corresponding nominal amount)XS2173253407: 30 mln SEK +/-30 mln SEK XS2269194572: 30 mln SEK +/-30 mln SEK SE0010599183: 30 mln SEK +/-30 mln SEK XS2391917205: 30 mln SEK +/-
CONDITIONS FOR RIKSBANK REVERSED AUCTIONS SEK GOVERNMENT BONDS27.5.2022 16:20:00 CEST | Press release
Bid procedure, 2022-06-03BondsSWEDEN I/L BOND: 3113. SE0009548704. 2027-12-01 SWEDEN I/L BOND: 3114, SE0013748258, 2030-06-01 Bid date2022-06-03Bid times09.00-10.00 (CET/CEST) on the Bid dateRequested volume (corresponding nominal amount)3113: 250 mln SEK +/-125 mln SEK 3114: 250 mln SEK +/-125 mln SEK Highest permitted bid volume (corresponding nominal amount)3113: 250 mln SEK per bid 3114: 250 mln SEK per bid Lowest permitted bid volume (corresponding nominal amount)SEK 50 million per bidExpected allocation timeNot later than 10.15 (CET/CEST) on the Bid dateDelivery and payment date2022-06-08Delivery of bondsTo the Riksbank's account in Euroclear Sweden AB's securities settlement system 1 4948 6383 Stockholm, 2022-05-27 This is a translation of the special terms and conditions published on www.riksbank.se. In the case of any inconsistency between the English translation and the Swedish language version, the Swedish language version shall prevail. Complete terms and conditions can be