ForFarmers N.V.: Solid first half-year 2017 underpinned by recovery agricultural sector

Lochem, 17 August 2017

Solid first half-year 2017 underpinned by recovery agricultural sector 

Highlights first half-year 2017*:

• Volume Total Feed: +3.6% to 4.7 million tonnes, on growth in the Netherlands and Germany/Belgium and a decrease in the United Kingdom; first signs of recovery UK agricultural sector visible, short term forecast still uncertain
• Net revenue: +3.7% to €1,110.6 million
• Gross profit: +0.4% to €207.3 million including negative currency translation impact (3.2%)
• Operating expenses: -4.0% to €169.1 million, including currency translation effect (-3.4%), net release provision bad debts and extension depreciation term plant, property and equipment; 1H 2016 included expenses listing and reorganisation charges United Kingdom
• Underlying EBITDA**: +11.7% to €51.7 million and at constant currencies: +14.8%
• Profit attributable to the owners: +21.6% to €30.4 million
• Basic earnings per share: +22.0% to €0.288, impacted positively by the share buy-back programme

(*) Results first six months of 2017 are compared to the first six months of 2016
(**) Operating result excluding depreciation, amortisation and incidental items

Yoram Knoop, CEO ForFarmers on solid results first half-year 2017:
'The first half-year results show that our Total Feed approach is gaining more and more momentum. In our innovative Total Feed solutions we are combining (feed) products, advice and tools. Products and advice are aligned with one another to lead to a better return on the farm.'

Please find attached pdf for the full press release