FirstFarms lowers its 2026 profit outlook as pig prices weaken

FirstFarms said its first-half 2026 earnings were affected by a combination of weather conditions and lower agricultural prices. The Danish agriculture company reported a sharp decline in both EBITDA and EBIT, even as revenue increased from a year earlier.

Weak pig prices had the largest stated effect on the result, reducing it by 16 million Danish kroner. Milk prices were also below the levels included in the company’s budget. Higher milk production partly offset the impact of those lower prices.

Drought in Slovakia affected FirstFarms’ crop operations. Crop yields there were 35% below budget, and the dry conditions also weighed on fair-value adjustments. The company identified the Slovakian drought alongside pig and milk prices as a factor behind the weaker first-half performance.

FirstFarms lowered its guidance for the full year as a result. It now expects 2026 EBITDA to fall between a loss of 5 million kroner and a loss of 45 million kroner. The revised range is below its previous estimate. The company projects EBIT in a range between a loss of 75 million kroner and a loss of 25 million kroner.

The company said pig prices were expected to rise slightly from current levels. Milk prices had already increased since June, according to FirstFarms. The updated outlook incorporates the company’s assessment of those price movements together with the effects recorded in the first half.