Core Insights - FirstFarms has the opportunity to apply for subsidies related to the outbreak of foot and mouth disease, which affected its farm in Slovakia, resulting in the culling of 3,521 animals [1] - The expected subsidy amount is between 40-55 million DKK, with 10 million DKK anticipated to impact profits in 2025 [2] - The company expects a positive reception for its subsidy application, which will allow for the recognition of some subsidies as income in 2025, leading to an upward adjustment in profit expectations for that year [3] Financial Expectations for 2025 - The updated expectations for 2025 include an EBITDA range of 85-125 million DKK, an increase from the previous expectation of 70-110 million DKK [4][8] - The EBIT expectation has also been adjusted to a range of 15-55 million DKK, up from the earlier forecast of 0-40 million DKK [4][8] - The adjustments reflect the company's ability to start production in 2025 and recognize subsidies as income once conditions are met [3]