Skip to main content

Company announcement no 16/2020 – Interim Report Q2 2020

Written by Customer Service on . Posted in Public Companies.

Interim Report Q2 2020EBITDA fixed herd prices (FHP) for Q2 2020 decreased to 4,754 mEUR (Q2 2019: 6,928 kEUR), corresponding to an EBITDA margin FHP of 18.4% (Q2 2019: 25.2%). The quarterly EBITDA in Q2 2020 decreased with 2,174 kEUR (compared to Q2 2019) is mainly due to decreasing sales prices 3.181 kEUR, partially compensated with higher production (+7,4% in kg) and a one-time subsidy in LT of 371 kEUR (relating to Zone 3 compensation mainly for 2018)Sales prices in Q2 were 1.14 EUR/kg live weight down from 1,31 EUR/kg (Q1 2020). The price decrease from Q1 has been driven by a Corona impact on the supply chain, e.g., temporary German slaughterhouses closing and losing the export license to China. July price (2020) 1.14 EUR/kg live weight. The outlook is highly uncertain with the ASF situation in China, Coronavirus impacting supply chains, and the current trade war between the USA and China.Feed prices in Q2 were 230 EUR/T as in Q1 2020 (compared to 244 EUR/T Q2 2019). A significant amount of grain is hedged until harvest 2021 either in storage, on fields, or contract, reducing fluctuations on feed price. The herd valuation in Q2 decreased with 7,420 mEUR (compared to 31.03.2020). Lower prices drove the decrease in EU and Lithuania.  Free cash flow was 7,695 kEUR in Q2 2020 (Q2 2019: 3.398 kEUR).Net interest-bearing debt has last quarter decreased from 73,5 mEUR to 68,3 mEUR driven by operational cashflow Q2 (4,8 mEUR) and reduced net working capital (4,1 mEUR). In contrast, NIBD has been negatively impacted by RUB, appreciating in Q2.Construction in Luga is in operation with 10 slaughter pig stables.IFC has confirmed that the internal process of utilizing the put option has been initiated, Idavang expects to repurchase the 20% shares during September for 17,905 kEUR (amount confirmed by IFC).  Idavang had extraordinary general meeting today the 31th August, to ensure all legal formalities are in place when IFC exercise the put option.AttachmentCompany announcement no 16 2020 Q2 2020 Idavang Interim Report

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.