FirstFarms cuts 2026 outlook by 20 mDKK as drought hits Slovakia

FirstFarms reported a pre-tax loss of 50 mDKK for the first half of 2026, compared with a profit of 7 mDKK a year earlier, as low pig and milk prices, drought and costs linked to rebuilding production after foot and mouth disease weighed on results. Turnover rose to 200 mDKK from 192 mDKK, while EBITDA fell to 3 mDKK from 54 mDKK and EBIT declined to minus 33 mDKK from 22 mDKK. Slovakia's crop yields are expected to be 35% below budget because of drought, although growing conditions in Romania have been favorable across irrigated and non-irrigated areas, including more than 2,000 hectares under irrigation. FirstFarms cut its 2026 guidance on 26 August 2026 to EBITDA of minus 5–45 mDKK and EBIT of minus 75–minus 25 mDKK, from the ranges issued on 8 July and 25 March. Pig prices later returned to their June level, while the August milk price was 15% higher than in June. The company expects to complete and bring its Plavecky dairy facility into operation in the fourth quarter and is focusing on cost management for the remainder of 2026.

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