Company Announcement No 21 2024 Q3 2024 Idavang
Date
11/28/2024 8:16:13 AM
(MENAFN- GlobeNewsWire - Nasdaq) Interim Report Q3 2024
EBITDA fixed herd prices (FHP) for Q3 2024 decreased to 10.042 mEUR (Q3 2023: 13.663 kEUR), corresponding to an EBITDA margin FHP of 29.1% (Q3 2023: 36.3%). The quarterly EBITDA in Q3 2024 decreased by 3.621 kEUR (compared to Q3 2023). Mainly driven by negative effect by prices being, feed prices EUR -0,3m and sales prices EUR -3,5m.
Feed prices in Q3 2024 were 267 EUR/T (compared to 261 EUR/T Q3 2023), which equals a loss on feed of EUR 0,3m.
The herd valuation in Q2 decreased by 1.430 kEUR (compared to 30.06.2024). The increase is driven by decreasing price in EU, whereas RU increased.
Net interest-bearing debt (NIBD) decreased to EUR 22.7m end Q3 2024, being. Idavang has 14 months left of the EUR 75m bond duration, hence having very stable financing. NIBD split is -10,7 mEUR in Russia (only bank deposit and no debt) and 33,4 mEUR in Denmark/Lithuania (see details in appendix). Outstanding bonds net equals 34,8 mEUR 30th September 2024.
In 2024 Russia has paid EUR 1,3m dividend from January to September, and additional 0,1 mEUR in October.
In December 2023 Company Announcement no 19/2023 was published, where a potential buyer was rejected by the Russian authorities. The Board of Directors and Executive Board of Idavang are taking the reasons for rejecting the previous buyer into account in the ongoing strategic review of Idavang's Russia business. We continue evaluating the different strategic options for the future of Idavang's Russian business, including a potential sale of the business.
No conclusion of the process has been reached, at the date of signing submitting this interim report.
Attachment
Company announcement no 21 2024 Q3 2024 Idavang
MENAFN28112024004107003653ID1108936140
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