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ForFarmers N.V.

ForFarmers N.V.

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Publicatie datum 26 aug 2016 - 07:07
Statutaire naam ForFarmers N.V.
Titel ForFarmers N.V.: Increasing operating profit first half year of 2016 through Total Feed approach and efficiency programme One ForFarmers
Bericht Lochem, 26 August 2016 Increasing operating profit first half year of 2016 through Total Feed approach and efficiency programme One ForFarmers Highlights first half year of 2016*: • Volume of Total Feed increased by 2.9% to 4.6 million tonnes mainly driven by growth in the Netherlands and Germany/Belgium • Revenue decreased by 4.4% to €1,070.5 million, due to decreasing raw material prices that were passed on and the devaluation of the Pound sterling, partly compensated by acquisitions • Gross profit - excluding the negative currency effect - remained fairly stable based on a positive contribution of the Netherlands and Germany/Belgium and a decrease in the United Kingdom • EBITDA** increased by 7.2% to €46.0 million: the result of cost reductions, following further implementation of the efficiency programme One ForFarmers, and of acquisitions. EBITDA excluding incidental items grew by 8.2% to €46.3 million • The transition from the trading platform (for depositary receipts) to the listing of the ForFarmers shares (FFARM) on the stock exchange EURONEXT Amsterdam (24 May) proceeded successfully • In July the acquisition of Vleuten-Steijn in the Netherlands was announced as a result of which the position of ForFarmers in the swine section will be further strengthened. The acquisition is pending approval of the competition authorities. (*) Results first six months of 2016 are compared to the first six months of 2015 (**) Operating result excluding depreciations and amortisation