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FirstFarms (FFARMS) investor relations material

FirstFarms Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary27 Aug, 2025

Executive summary

  • Result before tax for H1 2025 was 7 mDKK, down from 18 mDKK year-over-year, mainly due to a foot and mouth disease (FMD) outbreak in Slovakia and lower pig and crop prices.

  • Higher cattle prices and good growing conditions partially offset negative impacts from FMD and lower pig/crop prices.

  • Major construction projects in Romania progressed, while dairy construction in Slovakia was paused due to FMD.

Financial highlights

  • Net turnover for H1 2025 was 192 mDKK, down from 220 mDKK in H1 2024.

  • EBITDA was 54 mDKK (H1 2024: 65 mDKK); EBIT was 22 mDKK (H1 2024: 35 mDKK).

  • Net profit for H1 2025 was 4.8 mDKK, compared to 14.0 mDKK in H1 2024.

  • Cash flow from operating activities was 1.6 mDKK, down from 17.5 mDKK in H1 2024.

  • Equity increased to 916 mDKK, mainly due to bond conversion.

Outlook and guidance

  • 2025 EBITDA expected at 85-125 mDKK and EBIT at 15-55 mDKK, revised upward after subsidy approval.

  • Focus remains on re-establishing milk production and advancing sustainability initiatives.

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Frequently asked questions

FirstFarms A/S is an agricultural company engaged in the acquisition, development, and operation of farmland and agribusiness activities. The company focuses on producing crops such as cereals, corn, and oilseeds, as well as operating livestock farms primarily for milk and pork production. FirstFarms operates across several European countries, utilizing modern farming techniques to enhance productivity and sustainability in its operations. Its business activities cater to the food industry, supplying raw agricultural products to various food processors and distributors. The company is headquartered in Billund, Denmark, and its shares are listed on the Copenhagen Stock Exchange.

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