現代牧業(01117.HK):收購富源牧場估計貢獻奶量20% 料今年奶價或最少升6%
現代牧業(01117.HK)公布,計劃斥資34.8億元人民幣向蒙牛(02319.HK)及高盛等收購在中國經營14個牧場的富源。對於股價反應負面,公司總裁高麗娜在全年業績電話會議上表示,市場對是次交易可能存在疑問,或擔心公司往後奶價會被蒙牛「綁架」,但目前公司主席由蒙牛總裁盧敏放擔任,相信對方會整體考慮兩間企業的情況。而是次收購的富源旗下牧場奶牛單產及盈利能力很強,亦有良好規模效應,未來若處原奶供應旺盛的環境下,可起「保底」作用。
公司管理層提到,富源目前約有6萬頭奶牛,佔公司現有奶牛約20%,估計對公司奶量等貢獻亦約為20%。另外,富源向公司供應飼料已有數年,收購後料有助公司降低飼料價格及成本。
奶價方面,管理層指今年以來原奶市場供需緊張,首兩個月市場原奶供應量少,而農曆新年後乳製品需求大,估計今年全年原奶供應仍然緊缺,情況不差去年。加上飼料價格上升要由奶價回補,預期今年奶價或最少上升6%。
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