Skip to main content

Company announcement no 19/2021 Interim Report Q3 2021

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

Interim Report Q3 2021

EBITDA fixed herd prices (FHP) for Q3 2021 increased to 7,536 mEUR (Q3 2020: 7,253 kEUR), corresponding to an EBITDA margin FHP of 28.3% (Q3 2020: 29.3%). The quarterly EBITDA in Q3 2021 increased by 283 kEUR (compared to Q3 2020).  Q3 harvest influenced EBITDA margin significantly, as it is EBITDA without revenue. Harvest EBITDA was Q3 2021 4.6 mEUR and Q3 2020 3.8 mEUR, EBITDA margin FHP (without harvest) was 10.9% (Q3 2019: 14.1%).

ASF outbreak in Ostrov impacted Q3 result negative with 518 kEUR being feed inventories in Feed Kitchen that needed to be scrapped (due to instructions from Authorities), which are not covered by insurance policy.  Idavang expects that when Q4 report is released a full plan of when production will be established again.

Sales prices in Q3 were 1.18 EUR/kg live weight, up from 1.12 EUR/kg (Q3 2020). The price increase has been driven by better supply/demand relation in Russia.

The outlook is negative in EU/Lithuania as demand from China has decreased significantly, whereas Russia the demand is better than in 2020.

Feed prices in Q3 2021 were 255 EUR/T (compared to 230 EUR/T Q3 2020). A significant amount of grain is hedged until harvest 2022 either in storage, on fields, or contracts, reducing future increases in feed price, as raw materials as grain have been increasing. End September 2021 4.0 mEUR hedging gains are included in Group equity in other reserves. 

The herd valuation in Q3 decreased by 4,899 kEUR (compared to 30.06.2021). The decrease is driven on price pressure in EU due to over production of pork, as the export from EU to China currently is on a minimum, due to low prices in China. 

Free cash flow was 2,637 kEUR in Q3 2021 (Q3 2020: 3.771 kEUR).

Net interest-bearing debt has decreased from 87,3 mEUR (31.12.2020) to 82,7 mEUR driven by cash flow from operating activities

Further information

Bondholders – Claus Baltsersen, CEO phone +370 (685) 34 104

Media – Jytte Rosenmaj, Board Member phone +45 26 73 46 99

Attachment

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.