Skip to main content

Company announcement no 21 2024 Q3 2024 Idavang

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

Interim Report Q3 2024
EBITDA fixed herd prices (FHP) for Q3 2024 decreased to 10.042 mEUR (Q3 2023: 13.663 kEUR), corresponding to an EBITDA margin FHP of 29.1% (Q3 2023: 36.3%). The quarterly EBITDA in Q3 2024 decreased by 3.621 kEUR (compared to Q3 2023).  Mainly driven by negative effect by prices being, feed prices EUR -0,3m and sales prices EUR -3,5m.

Feed prices in Q3 2024 were 267 EUR/T (compared to 261 EUR/T Q3 2023), which equals a loss on feed of EUR 0,3m.

The herd valuation in Q2 decreased by 1.430 kEUR (compared to 30.06.2024). The increase is driven by decreasing price in EU, whereas RU increased.

Net interest-bearing debt (NIBD) decreased to EUR 22.7m end Q3 2024, being. Idavang has 14 months left of the EUR 75m bond duration, hence having very stable financing. NIBD split is -10,7 mEUR in Russia (only bank deposit and no debt) and 33,4 mEUR in Denmark/Lithuania (see details in appendix).  Outstanding bonds net equals 34,8 mEUR 30th September 2024.

In 2024 Russia has paid EUR 1,3m dividend from January to September, and additional 0,1 mEUR in October.

In December 2023 Company Announcement no 19/2023 was published, where a potential buyer was rejected by the Russian authorities.  The Board of Directors and Executive Board of Idavang are taking the reasons for rejecting the previous buyer into account in the ongoing strategic review of Idavang’s Russia business. We continue evaluating the different strategic options for the future of Idavang’s Russian business, including a potential sale of the business.

No conclusion of the process has been reached, at the date of signing submitting this interim report.

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.