1. Denmark Stocks

  2. •

    Process industries

  3. •

    Agricultural commodities/Milling
FirstFarms A/S

FirstFarms A/S

CCPH:FFARMS
67.00
DKK
-1.40
(-2.05%)
841.54MMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
24.22
26.53
23.73
27.64
37.11
40.41
51.93
41.54
47.11
44.54
46.96
40.98
33.96
- -
Basic EPS, GAAP
0.59
1.87
-4.66
-2.75
0.65
1.32
3.55
3.28
4.42
6.92
2.62
1.47
-1.68
- -
Free Cash Flow per Basic Share
-4.22
-10.36
-8.56
-3.85
-4.81
-2.48
2.23
-4.53
-1.03
-13.81
-7.63
-4.27
-10.9
- -
Dividend per Share
- -
- -
- -
- -
- -
- -
0.52
- -
0.72
0.73
0.9
- -
- -
- -
Book Value per Share
68.08
69.76
64.97
62.14
61.33
60.09
62.09
63.9
67.44
72.2
72.61
73.54
73.46
70.18
Tangible Book Value per Share
63.91
64.9
60.51
57.99
57.74
57.28
59.55
61.77
65.39
70.5
70.99
72.09
67.06
63.63
Basic Weighted Avg Shares
5
5
5
5
5
6
6
8
8
9
10
11
12
12
Sales/Revenue/Turnover
114
125
112
130
191
249
328
314
370
421
467
457
416
- -
Operating Margin (%)
10.01
9.38
-13.55
-2.64
8.23
7.95
13.11
0.35
11.74
22.54
8.63
8.53
2.4
- -
Depreciation Expense
17
22
24
24
27
32
47
46
44
51
51
62
66
- -
Net Income, GAAP
3
9
-22
-13
3
8
22
25
35
65
26
16
-21
- -
Effective Tax Rate (%)
37.95
23.24
- -
- -
32.74
29.41
22.6
21.04
24.3
21.66
22.4
- -
- -
- -
Profit Margin (%)
2.45
7.06
-19.65
-9.95
1.76
3.27
6.84
7.89
9.39
15.54
5.58
3.58
-4.96
- -
Working Capital
20
32
-26
-9
27
64
-24
-9
32
39
150
267
197
122
LT Debt
79
88
62
88
179
273
342
365
270
328
538
604
517
544
Total Equity
321
329
306
293
315
370
392
483
530
683
722
819
899
860
Return on Invested Capital (%)
1.68
3.33
- -
- -
2.21
2.86
4.68
4.63
5.51
6.99
3.09
- -
- -
- -
Return on Capital (%)
1.19
2.57
- -
- -
1.33
2.67
4.26
4.04
4.76
7.11
3.93
- -
- -
- -
Return on Common Equity (%)
0.87
2.72
-6.92
-4.33
1.11
2.37
5.88
5.66
6.86
10.79
3.71
2.12
-2.4
- -

Capital Structure

DKK

•

in mil. unless spec.
Sep'25
Dec'25
Jun'26
ST Debt
118
108
164
LT Borrowings
495
517
544
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
12
12
12
Market Capitalization
961
908
842

Working Capital

DKK

•

in mil. unless spec.
Sep'25
Dec'25
Jun'26
Total Current Assets
365
367
371
Cash, Cash Equivalents & STI
2
12
16
Accounts Receivable, Net
26
23
30
Inventories
275
286
276
Total Current Liabilities
177
170
249
Payables & Accruals
- -
- -
- -
ST Debt
118
108
164
Deferred Revenue
- -
- -
- -

Growth Rates

DKK

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
11.74%
13.49%
9.78%
Free Cash Flow
95.2%
308.83%
180.79%
Net Income, GAAP
-3.36%
-39.01%
-226.15%
Sales/Revenue/Turnover
15.23%
6.26%
-8.97%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

DKK

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
105
117
109
126
457
2025
103
124
95
94
416
2026
- -
- -
- -
- -
- -

Quarterly Earnings Per Share

DKK

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.09
0.33
-0.54
0.6
1.47
2025
-1.35
1.43
-0.91
-1.17
-1.68
2026
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

DKK

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Michael Hyldgaard
Full Time Employees
374
Sector
Process industries
Industry
Agricultural commodities/Milling
Address
Majsmarken 1 Billund SD Denmark 7190
IPO Date
Nov 20, 2006
Website
firstfarms.dk
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Business
FirstFarms A/S is a Denmark-based agricultural company that acquires, develops, and operates businesses in crop production, milk production, pig production, and land portfolio development across Central and Eastern Europe. Founded in 2005 and headquartered in Billund, Denmark, the company cultivates crops including wheat, rapeseed, maize, lupine, sunflower, rye, sugar beets, grass, poppy, soybean, barley, pumpkin, sorghum, alfalfa, and peas; rears dairy cows yielding milk from approximately 2,800 milking cows in Slovakia; produces piglets and slaughter pigs from facilities with over 6,500 sows across Slovakia, Hungary, and the Czech Republic; and strategically expands its land holdings through acquisitions and leasing totaling around 18,000 hectares in the Czech Republic, Slovakia, Hungary, and Romania, with Slovakia as the primary revenue contributor. FirstFarms generates revenue primarily from cows and calves, piglets and slaughter pigs, crops, and related activities, employing modern technologies and circular operations to serve the food industry and other agricultural entities while prioritizing risk diversification and sustainability. Recent developments include the 2024 investment of 186 million DKK from Heartland Group's Constantinsborg A/S via a directed share issue and convertible bonds, securing a 10.77% stake to fund Strategy 2028 growth targets of doubled turnover and earnings; inauguration of major pig production facilities in Hungary in 2023 with capacities for 2,000 sows and 75,000 piglets annually; ongoing construction of a silo expansion to 46,000 tons, irrigation systems covering additional 750 hectares in Romania, and the company's first dairy in Slovakia set for mid-2025 production of cream and concentrated milk products; and recovery from a 2025 foot-and-mouth disease outbreak in Slovakia, with the affected farm declared free in September 2025 and repopulation underway with 1,900 pregnant heifers and cows for December operations.