Goodvalley at a glance

Goodvalley is a vertically integrated pork producer and food brand founded on sustainable farming principles ensuring a carbon neutral production.

Our operations are located in Poland, Ukraine and Russia and comprised of arable production, feed mills, pig farming, slaughtering, meat processing and marketing as well as biogas production. We use the most advanced technology and farming methods at our modern facilities and apply Danish pig farming principles of sustainability and efficiency in countries with strong market drivers and prospects for growth and development.

We sell live pigs to external slaughterhouses and produce pork products at our own slaughterhouse, which supplies retail chains across Poland where we are building a strong food brand based on a range of climate-friendly premium products made from pigs raised without antibiotics and fed with non-GMO feed.

Goodvalley produces sustainable meat for a better tomorrow.

Goodvalley completed a 4-year senior secured bonds issue of EUR 135 million in 2017, and the Group’s bonds are listed on Nasdaq Copenhagen under the ticker ‘Goodvalley’ (ISIN DK0030398979).

Key figures

DKK million 2019 2018 2017 2016 2015
Revenue 1,526 1,473 1,620 1,405 1,275
Total income 1,644 1,493 1,653 1,485 1,370
EBITDA 354 212 426 347 284
Herd price adjustment (80) 10 6 (49) -
Adjusted EBITDA 274 222 431 299 -
Profit/(loss) for the year 59 36 246 - -
Operating cash flow 205 194 274 227 162
Invested capital 2,690 2,402 2,365 2,343 2,269
Net interest-bearing debt (NIBD) 1,122 1,171 1,100 1,185 1,250
Equity 1,568 1,230 1,265 1,232 1,105
Financial ratios 2019 2018 2017 2016 2015
EBITDA margin, % 23.2 14.4 26.3 24.7 22.3
Adjusted EBITDA margin, % 17.9 15.1 26.6 21.3 -
ROIC, % 4.9 3.9 13.2 8.5 8.9
NIBD/Adjusted EBITDA LTM 4.1 5.3 2.6 4.0 -
Equity ratio, % 53.6 46.8 46.0 46.4 43.2

Adjusted profit refers to profit adjusted for herd price changes, non-recurring items and exchange rate adjustments in financial items.

Segments
Pig
  • Breeding, farrowing, nursery and fattening at own farms in Poland, Ukraine and Russia
  • 2nd largest pig producer in Poland and Ukraine.
  • Farms located on own land in remote areas to reduce transport costs and emissions as well as the risk of biosecurity being compromised by external factors
  • Control over feed mix and quality provides competitive edge allowing for optimisation of feed consumption, daily weight gain and the number of piglets born as well as minimising the risk of disease
Food
  • Slaughtering, cutting, deboning and packing at own slaughterhouse in Poland
  • Sells deboned meat,MAP (Modified Atmospheric Packaging) and processed products as private label and under Goodvalley brand.
  • Distribution via retailers, export, wholesale and industrial processors
Arable
  • Grows crops in Poland, Ukraine and Russia to supply cereals for feed, silage for biogas production and oil seeds for external sale
  • Diversified portfolio of wheat, barley, corn, triticale and other crops
  • Modern, GPS-equipped machinery fleet facilitates growing and harvesting
  • Uses pig manure and fermented biomass from own facilities as organic fertilizers
Energy
  • Bioenergy production based on biomass from pig manure, corn silage, straws from grain production and slaughter waste
  • Supplies own pig farms with electricity and heating
  • External sales of electricity and heating