FirstFarms A/S’ interim financial report 1 January

Core Insights - FirstFarms reported an unsatisfactory interim result for the first nine months of 2025, with a loss of -6 million DKK, primarily due to low prices and the impact of foot and mouth disease (FMD) on milk production [1][5][10] Financial Performance - The turnover for the period decreased by 13%, attributed to a lack of milk sales and lower pig prices [3][10] - The result before tax was -5 million DKK, down from a profit of 13 million DKK in the previous year, largely due to FMD and negative value adjustments on the pig herd [3][10] - EBITDA for the period was 72 million DKK, down from 86 million DKK in 2024, while EBIT fell to 21 million DKK from 41 million DKK [10] Impact of Foot and Mouth Disease (FMD) - The FMD outbreak confirmed on March 30, 2025, led to significant operational disruptions, including the culling of animals and a halt in milk production [6][8] - The farm was declared free of FMD on September 24, 2025, allowing for the introduction of new animals expected in December 2025 [6][8] - The company has received insurance payouts totaling 31 million DKK, with 60% already disbursed by the end of Q3 [9][11] Future Expectations - FirstFarms has adjusted its expectations for 2025 downwards by 45 million DKK due to the FMD outbreak [9] - The company anticipates slightly increasing prices for pigs and crops for the remainder of 2025, despite a decrease in pig prices at the beginning of Q4 [11]