Forfarmers : Intensified competition most likely here to stay
>H1 2021 significantly below expectations - ForFarmers (FFARM) reported weak H1 2021 results, with underlying EBITDA coming in 11% below consensus. Competition appears to have intensified during the semester, with FFARM reporting the lowest underlying EBITDA/gross profit (18.8%) in seven years (except for H1 2019, when FFARM engaged in [temporary] unfavourable trading positions). The company guides for H2 2021 underlying EBITDA to be roughly in line with H2 2020, whic...ForFarmers NV is an agricultural feed company based in the Netherlands that offers feed solutions for conventional and organic livestock farming. Its product portfolio comprises, among others, products for crop farming and pasture farming, as well as feed for the ruminant, swine, poultry and equine sectors, including compound feed and blends, feed for young animals and specialties, raw materials and co-products to seed and fertilizers. Its core activities are feed production, logistics and the provision of total feed solutions. The Company operates through the segments The Netherlands, Germany/Belgium and the United Kingdom, and operates approximately 40 production facilities in these countries.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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