Company announcement no 3/2023 - Annual Account / Report Q4 2022
Annual Account / Report Q4 2022
EBITDA fixed herd prices (FHP) for Q4 2022 increased to 5.746 mEUR (Q4 2021: -1.039 kEUR), corresponding to an EBITDA margin FHP of
15.2% (Q4 2021: -5.1%). The quarterly EBITDA in Q4 2022 increased by 6.332 kEUR (compared to Q4 2021). Mainly driven by improved sales prices, as they in Q4 2022 were 1.56 EUR/kg live weight, up from 1.00 EUR/kg Q4 2021.
Feed prices in Q4 2022 were 356 EUR/T (compared to 294 EUR/T Q1-Q3 2022). End December 2022 4.8 mEUR hedging gains are included in Group equity in other reserves, which will be released into EBITDA during next 9 months.
The herd valuation in Q4 increased by 2,840 kEUR (compared to 30.09.2022). The increase is driven by increasing price in EU, as the market is moving towards balance of demand/supply of pork. FY2022 the herd prices are have increased significant, driven by increasing prices, total increase is 8.430 kEUR predominate in Lithuania.
Net interest-bearing debt (NIBD) decreased to EUR 66.5m in 2022, being EUR 12.0m lower than in 2021 (78.5 mEUR). Nevertheless, the following need to be considered EUR 4,8 from hedging transactions which will be included in EBITDA in 2023. Idavang has almost three years duration with the EUR 75m bond left, hence having very stable financing.