Firstfarms
FirstFarms A/S is a Danish-listed agricultural company operating integrated pig, dairy, and crop production across 20 locations in five EU countries, cultivating ~18,900 hectares and selling commodities to European dairies, slaughterhouses, and food industry buyers.
- Company typePublic
- Founded2005
- HeadquartersBillund, Denmark
- Headcount251–500
- GTM typeB2B
- OfferingHardware or Manufacturing
What Firstfarms does
FirstFarms A/S is a Danish publicly-listed agricultural company (Nasdaq Copenhagen SmallCap, ticker FFRMS) operating four integrated business areas — pig production, milk production, crop production, and land portfolio management — across 20 locations in five EU countries (Denmark headquarters, Slovakia, Romania, Hungary, and Czech Republic). The company cultivates approximately 18,900 hectares of agricultural land, operates 2,800 milking cows plus 2,600 young cattle in Slovakia, runs pig production with 4,200 sows in Hungary and additional capacity in Slovakia and Czech Republic, and produces ~71,500 slaughter pigs annually from Czech facilities and ~27,000 from Gabčíkovo, Slovakia. Vertical integration is significant: the group operates three feed mills (combined ~47,500 tons/year capacity) and applies proprietary Danish genetics for pigs and 100% Holstein Friesian genetics for dairy cattle.
The business model is direct B2B sales of agricultural commodities — primarily slaughter pigs, piglets, milk, and crops — to European dairies, Slovak slaughterhouses, the modern food industry, and other agricultural companies, with pricing determined by local supply/demand dynamics rather than disclosed contracts. Land portfolio development through acquisition and compaction of farmland across Central Europe is positioned as a fourth strategic pillar creating long-term operational and balance-sheet value (419 mDKK owned land book value in 2024). Capital structure includes 186 mDKK raised from Heartland Group in February 2024 via directed share issue and convertible bonds to fund a stated ambition to double turnover and earnings by 2028 through organic growth and acquisitions. The company holds ~2,500 shareholders and employs 400 people across the group.
Operationally the company is currently navigating a difficult cycle: Q1 2026 revenue of 73 mDKK was down from 102 mDKK in Q1 2025, FY2025 produced a -20.6 mDKK net loss attributed to Foot-and-Mouth Disease impact and low milk/pig prices, and 2026 EBITDA guidance is set at 60-110 mDKK. Leadership was restructured in 2025 with a dual Co-CEO model (Michael Hyldgaard, ex-PwC; Søren Bredvig, ex-Hempel/Novo Nordisk) and Jesper Pagh (ex-DLG Group CEO) added to the Board, consistent with a governance build-out to support the growth-by-acquisition strategy.
Firstfarms firmographics
Firmographics- Name
- Firstfarms
- Legal name
- FirstFarms A/S
- Website
- https://firstfarms.dk
- Company type
- Public
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- FirstFarms A/S is a Danish-listed agricultural company operating integrated pig, dairy, and crop production across 20 locations in five EU countries, cultivating ~18,900 hectares and selling commodities to European dairies, slaughterhouses, and food industry buyers.
- Ownership category
- akta.pro rank
Firstfarms industry classification
Industry- Product category
- Diversified Agricultural Production
- NAICS
- Hog and Pig Farming (11221), Dairy Cattle and Milk Production (112120), Oilseed and Grain Farming (1111)
- SIC
- Agricultural Prod-Livestock & Animal Specialties (200), Agricultural Production-Crops (100)
- akta.pro primary industry
- Contract Hog Growing (Integrator/Production Contracts) (AFAEAEAK)
- akta.pro secondary industries
- Nursery Pig Production (Weaned Pig Growers) (AFAEAEAD), Feed Grain Production (Livestock Feed Grains) (AFAGAAAK)
Keywords
Where Firstfarms is headquartered
LocationHeadquarters
- HQ city
- Billund
- HQ country
- Denmark
- HQ region
- Europe
Offices8 records
Markets served
Firstfarms business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Supply Chain, Operations, Infrastructure, Technology or R&D
Revenue model
- Agricultural Product Sales: Sale of agricultural products including slaughter pigs, piglets, milk, and crops. Products are sold primarily locally to food industry and other agricultural companies. Revenue is generated through transaction-based commodity sales.
- Land Portfolio Development: Development of land portfolio through acquisition and compaction of agricultural land, creating long-term operational value through land ownership and rental contracts.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels8 records
Firstfarms product offering
Product offeringCore offering
FirstFarms produces and sells slaughter pigs and piglets (in Hungary, Czech Republic, and Slovakia), milk (in Slovakia), and crops (wheat, barley, maize, rapeseed, soybeans) cultivated on approximately 18,900 hectares across four Central European countries. The company also develops and manages a portfolio of agricultural land through acquisition, compaction, and rental contracts, creating long-term operational value. Products are sold primarily to local food industry buyers, European dairies, and Slovak slaughterhouses.
Product overview
Firstfarms is a Danish stock exchange listed agricultural company operating four integrated business areas: pig production (piglets and slaughter pigs), milk production (dairy cattle), crop production (arable farming), and land portfolio management. The company operates across Slovakia, Romania, Hungary, and Czech Republic from approximately 20 locations, cultivating about 18,900 hectares of agricultural land and managing pig and dairy cattle operations. The company focuses on producing high-quality agricultural products primarily sold locally, with operations built on professional management and best practices in Central European agriculture.
Differentiator
Problem solved
Functional benefit
Products and services
- Pig Production Production of piglets and slaughter pigs using Danish genetics to ensure quality pigs with low feed consumption and low CO2 footprint. Operations are located in Hungary (4,200 sows and 162,000 piglets annually), Slovakia (Gabčíkovo: 2,300 sows, 79,000 piglets, 27,000 slaughter pigs), and Czech Republic (71,500 slaughter pigs). Products are sold to Slovak slaughterhouses and other agricultural companies, with weekly inter-company transfers of 720 weaned piglets from Slovakia to Czech Republic.
- Milk Production Milk production at Plavecký Štvrtok and other Slovakia facilities using 100% Holstein Friesian cattle genetics. As of 2024, the operation includes 2,800 milking cows and 2,600 young cattle, with storage for 21,000 tons of silage. Milk is sold to European dairies as a bulk commodity input for dairy processing.
- Crop Production Cultivation of approximately 18,900 hectares of agricultural land across Slovakia (Zahorie 9,400 hectares and Gabčíkovo 1,750 hectares), Czech Republic (1,110 hectares), Romania (East 7,480 hectares), and Hungary (400 hectares). Crops include wheat, barley, maize, rapeseed, and soybeans produced for both external sales and internal feed use in pig and milk operations. Includes on-site feed mills with total capacity exceeding 47,500 tons per year.
- Land Portfolio Management Development and management of FirstFarms' agricultural land portfolio through acquisition, compaction, and rental contracts across Slovakia, Czech Republic, Hungary, and Romania. As of 2024, the portfolio included 419 mDKK of owned land. Includes subsidiaries such as Cityland s.r.o. for land management and dedicated land fund operations with contact [email protected].
Quantifiable outcome
- Aiming to double turnover and earnings by 2028 through organic growth and acquisitions
Companies that use Firstfarms
Customer profileNamed customers3 records
Segments2 records
Ideal customer profiles2 records
Firstfarms technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Firstfarms partnerships and signals
Strategic signalScale indicators10 records
Recent moves11 records
Expansion highlights5 records
Firstfarms competitors and assessment
Company assessmentBroad incumbents
- Glanbia plc: Irish-listed dairy and nutrition group with European operations — comparable to FirstFarms in dairy/milk production, agricultural supply chain integration, and use of high-performance Holstein genetics for value-added dairy output.
- Agravis Raiffeisen AG: German agricultural cooperative active in crop production, livestock inputs, feed milling, and farm management across Germany and Central Europe — comparable in multi-country European agribusiness footprint and integrated feed/livestock offerings.
- BayWa AG: Munich-listed agricultural trading, inputs, and farm management group with Central and Eastern European exposure — comparable in multi-country European farming footprint, grain trading, and mixed crop/livestock business model.
- Vilmorin & Cie: French-listed seed and field crop company with significant Central and Eastern European operations — comparable in European field crop production focus and exposure to regional agricultural cycles.
Direct peers
- Tönnies Holding: German family-owned pork processor and livestock group, one of Europe's largest slaughterhouse operators — directly comparable as a counterpart buyer of slaughter pigs from FirstFarms and a vertically integrated European pork business.
- Origin Enterprises plc: Dublin-listed agronomy services and crop production group operating across Central and Eastern Europe (notably Romania, Poland, Ukraine) — directly comparable to FirstFarms' Central/Eastern European crop farming and farm management activities.
- Danish Crown: Danish farmer-owned pork and beef cooperative with slaughterhouse operations — directly comparable to FirstFarms' pig production arm that supplies Slovak slaughterhouses, and shares a Danish agricultural heritage and farmer-shareholder ownership model.
- DLG Group: Large Danish agricultural cooperative serving crop farmers and livestock producers with feed, inputs, and grain handling — comparable as a vertically integrated Northern European agribusiness serving pig and crop producers across multiple countries.
Regional players
- Bonduelle SCA: French family-controlled vegetable and crop producer with extensive European farmland — comparable in large-scale European crop production operations and listed-company governance structure, though focused on vegetables rather than feed grains.
- RWA Raiffeisen Ware Austria AG: Austrian agricultural cooperative with grain trading, feed milling, and farm inputs across Central Europe — comparable to FirstFarms' integrated grain/feed operations and Central European multi-country model.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Firstfarms social profiles
Digital presenceFirstfarms financial estimates
Financial estimateRevenue estimate
Valuation estimate
Firstfarms leadership team
Management profileNumber of profiles
Profiles10 records
Firstfarms subsidiaries and ownership
Company hierarchySubsidiaries17 records
Firstfarms funding detail
Funding detailFunding overview
Funding rounds2 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Firstfarms M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Firstfarms
What does Firstfarms do?
FirstFarms produces and sells slaughter pigs and piglets (in Hungary, Czech Republic, and Slovakia), milk (in Slovakia), and crops (wheat, barley, maize, rapeseed, soybeans) cultivated on approximately 18,900 hectares across four Central European countries. The company also develops and manages a portfolio of agricultural land through acquisition, compaction, and rental contracts, creating long-term operational value. Products are sold primarily to local food industry buyers, European dairies, and Slovak slaughterhouses.
Is Firstfarms a public or private company?
Firstfarms is a public company. It is classified as public and is currently operating.
When was Firstfarms founded?
Firstfarms was founded in 2005. It employs 251 to 500 people.
Where is Firstfarms based?
Firstfarms is headquartered in Billund, Denmark, in the Europe region.
How does Firstfarms make money?
Two revenue lines are on record. Agricultural Product Sales are the primary driver. The others are land Portfolio Development.
Who are Firstfarms's main competitors?
Broad incumbents on record are Glanbia plc, Agravis Raiffeisen AG, BayWa AG and Vilmorin & Cie. Direct peers are Tönnies Holding, Origin Enterprises plc, Danish Crown and DLG Group. Regional players are Bonduelle SCA and RWA Raiffeisen Ware Austria AG.
Does Firstfarms have an API?
No public API is recorded for Firstfarms.
What industry is Firstfarms in?
Firstfarms's product category is Diversified Agricultural Production. Its primary akta.pro industry code is AFAEAEAK, Contract Hog Growing (Integrator/Production Contracts), with a secondary code of AFAEAEAD, Nursery Pig Production (Weaned Pig Growers). Its NAICS code is 11221 and its SIC code is 200.