ForFarmers has furthermore decided to postpone the announcement of the strategy 2020-2025 and the relating Capital Markets Day, which would both take place on 12 May next, until after the publication (on 13 August) of the 2020 half-year results. This is prompted by the policy of the Dutch government on COVID-19 and ForFarmers’ interpretation thereof.
ForFarmers published its 2019 results on 12 March last and stated that it would publish its strategy for the years 2020 - 2025 on 12 May 2020. Later that same day, the Dutch government announced measures to combat the evolving outbreak of COVID-19. The government also announced that the food chain, including deliveries of animal feed and other products to farms, is recognised as crucial sector to keep society running during the COVID-19 outbreak. Manufacturing and supply of animal feed is also recognised as crucial sector in the other countries in which ForFarmers is active.
Throughout the group, ForFarmers is currently putting everything to work, in line with the various national measures, to keep employees healthy and accordingly being able to continue producing and transporting feed for and to livestock farms. ForFarmers has a strong balance sheet and a solid financial position with sufficient cash and headroom within its credit facilities. At present, ForFarmers does not experience material issues resulting from the impact of and the measures regarding COVID-19 in its core processes.
ForFarmers continues to focus on offering Total Feed solutions to the more than 26,000 customers (livestock farmers) and will publish its first quarter 2020 trading update on 1 May 2020.
This press release contains information that qualifies as inside information in the sense of Article 7 paragraph 1 of the EU Market Abuse Regulation.