- A turnover of 462 mDKK (2022: 418 mDKK)
- An EBITDA of 101 mDKK (2022: 147 mDKK)
- An EBIT of 50 mDKK (2022: 96 mDKK)
- A result after tax of 26 mDKK (2022: 65 mDKK)
Equity has increased from 683 mDKK to 723 mDKK. The total strengthening of the capital amounts to 40 mDKK. The group will thus end up with a solvency ratio of 48% at the end of 2023.
The Board of Directors and Management of
2023 offered difficult market conditions. A combination of high milk and pig prices as well as a stable, efficient and circular operation, ensures however that
"Risk spreading in both operations and geography has become our positive trademark and is again an important factor in our ability to deliver positive results. Risk spreading is part of our DNA and gives us the resilience that is necessary," says CEO
High level of activity
2023 offered a wide range of activities - for example:
- Two new pig productions in
Hungary were taken into use and are now operating at 100 percent - Establishment of large irrigation system in
Romania – ready for use now - Setting up solar panels on several production units
- Continued investigations into the possibility of starting biogas production
- Strategy development and organisational adjustments
- ESG measures, e.g. mapping of greenhouse gas emissions and development of sustainability plans for the individual production units.
"After many months of thorough work, we were able to present our ambitious new strategy at the end of the year; "Strategy 2028", which will ensure our continued journey of growth. At the same time, we made a number of organisational changes and implemented a new broad distribution of responsibilities and tasks, which means that the organisation is scaling up and ready for the upcoming growth task, says
Expectations for 2024: Profit-wise progress
Based on the ambition to grow
"If we are to achieve our goal in 2024, we must be "best in class" in our efficiency and ability to fully utilise the production capacity we have. We must focus all the way down to the detail on reducing our costs per produced unit. Here we are well assisted by our circular way of thinking," says
The focus will be on creating the most value possible in the circular operation and the value chains around
Work towards a more sustainable agriculture is being intensified and the transition to green energy will continue in 2024. Among other things, there is a focus on increasing the Group's own integrated production of renewable energy. The goal is to improve energy efficiency and become as energy self-sufficient as possible.
Well equipped for growth
On
With Heartland's entry into an already strong circle of owners,
FirstFarms’ annual report can be seen in its full length in the attached file.
Best regards,
For further information:
Please visit our website www.firstfarms.com or contact CEO
About
Attachments
- (5) FirstFarms Annual report 2023
- Annual report 2023_PDF version
© OMX, source