March 12, 2020 / 6:32 AM / 25 days ago

BRIEF-ForFarmers FY Underlying EBITDA Decreases To 88.5 Million Euros

March 12 (Reuters) - ForFarmers NV:

* FY NET CASH FLOW FROM OPERATING ACTIVITIES: UP 17.1% TO EUR 96 MILLION

* FY UNDERLYING EARNINGS PER SHARE: DOWN 36.2% TO EUR 0.37

* FY GROSS PROFIT: DOWN 0.6% TO €440.7 MILLION; DESPITE FURTHER VOLUME DECLINE, RECOVERY IN H2-2019 COMPARED TO H1-2019 (H1: IMPACT OF UNFAVOURABLE PURCHASING POSITION AND ALSO VOLUME DECLINE)

* DIVIDEND PROPOSAL: TOTAL OF EUR 0.28 PER ORDINARY SHARE (REGULAR DIVIDEND OF EUR 0.19 AND A SPECIAL DIVIDEND OF EUR 0.09)

* FY UNDERLYING EBITDA: DOWN 11.6% TO EUR 88.5 MILLION; INCLUDING POSITIVE IFRS 16 EFFECT (EUR 5.8 MILLION)

* WELL ON TRACK WITH REALISATION OF EARLIER ANNOUNCED EUR 10 MILLION COST SAVING IN 2021

* FY COMPOUND FEED VOLUME: UP 1.9% TO 7.1 MILLION TONNES

* WILL BE ANNOUNCING STRATEGY FOR YEARS 2020 -2025 ON 12 MAY 2020

* FY REVENUE ROSE BY 2.4% TO €2,463 MILLION

* FORFARMERS NV SAYS FY TOTAL FEED VOLUME: UP 0.7% TO 10.1 MILLION TONNES

* OUTLOOK: WE WILL BE ANNOUNCING STRATEGY FOR YEARS 2020 -2025 ON 12 MAY 2020

* ON BREXIT: FORFARMERS REMAINS OPTIMISTIC THAT THERE WILL ULTIMATELY BE AN EXPANSION OF UK PIG AND POULTRY OUTPUT

* EXPECTS TO CONTINUE THE TREND OF THE SECOND HALF-YEAR OF 2019 IN 2020

* ON CORONAVIRUS: AT THIS POINT IN TIME THERE IS NO MATERIAL IMPACT ON FUTURE RESULTS YET Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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