Goodvalley Annual Report 2019

Goodvalley improved performance in volatile 2019

Goodvalley continued to strengthen the business in 2019 by improving operational and financial performance in a year of significant fluctuations in European markets driven by a sharp increase in prices for live pigs, while pork prices in the Polish bulk market remained low throughout the year.

HIGHLIGHTS

Financials

• Revenue grew by 3.8 % to DKK 1,526 million driven by higher live pig prices and volume growth
• Adjusted EBITDA was higher by 23.4% and came to DKK 274 million driven by live pig sales despite low profitability from pork sales and weak arable yields

Operations

• Goodvalley improved efficiency in terms of pigs sold per sow from 31.6 in 2018 to 31.9 in 2019
• The whole herd feed conversion ratio was stable at 2.73 kilo feed per kilo pork, resulting from the Group’s ongoing focus on sustainability and efficiency
• Sales of branded products increased from 210 tonnes in 2018 to 940 tonnes in 2019, and distribution expanded to 3,900 stores across Poland

Outlook

• Goodvalley expects to generate revenue in the range of DKK 1,600- 1,750 million and an Adjusted EBITDA of DKK 320-380 million driven by continued high live pig prices and improved production efficiency

“We continued to strengthen the business in 2019 as we improved operational and financial performance while investing in our sustainable production platform, our food brand in Poland and the efforts to mitigate increasing exposure to African swine fever,” says CEO Hans Henrik Pedersen.

Conference call 27 February at 14.00 (CET) about Annual Report 2019

On 27 February 2020 at 14.00 (CET), Goodvalley will host a conference call at which CEO Hans Henrik Pedersen and Vice CEO Kristian Brokop Jakobsen will provide comments on financial and operational performance in the financial year 2019, the outlook and answer questions. Registration is not required.

The conference call will be conducted in English and can be followed live here:
https://edge.media-server.com/mmc/p/9p7fm3uw

Participants should dial the numbers provided below and state conference code 8684139

Further Information

Group Communications, Anne Axelgaard

+ 45 76 52 20 00

info@goodvalley.com

Goodvalley at a glance
Goodvalley is an international producer of high-quality pork products operating in Poland, Ukraine and Russia based on Danish production standards. The company is to a large extent self-sufficient and masters the whole production chain from field to fork, from growing crops for feed, breeding and slaughtering pigs including using the manure in biogas facilities to produce electricity and organic fertilizer for the fields. Goodvalley is certified as a carbon neutral company by German TÜV and operates according to the highest standards in terms of animal welfare, transparency in the production and sustainable production methods.

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