EQS-News: AGRANA Beteiligungs-Aktiengesellschaft / Key word(s): Annual
Results
AGRANA presents annual results for 2024|25
09.05.2025 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
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AGRANA presents annual results for 2024|25
• Cyclical downturn in starch market and pressure on sugar prices weigh
on the Group’s bottom line
• Very good business performance in Fruit activities
• Outlook for full financial year 2025|26: steady EBIT
• CEO Büttner: "We are proactively addressing the ongoing challenging
market environment with a new Group strategy"
AGRANA Beteiligungs-AG already announced the preliminary results for the
2024|25 financial year (ended 28 February 2025) on 25 March 2025. With
today's publication of the annual report, the final figures are presented.
Revenue of the AGRANA Group eased by 7.2% in the 2024|25 financial year to
€ 3,514.0 million. As forecast, operating profit (EBIT), at € 40.5
million, was very significantly lower than in the previous year.
“The past financial year was disappointing for AGRANA in terms of
earnings. A weak economy in Europe, including a recession in Austria and
Germany, combined with continuing high volatility on the raw material and
energy purchasing side have created a market environment that is less
predictable than ever before,” says the Group’s CEO Stephan Büttner.
Despite the difficult economic conditions, the Fruit business performed
very well. The Starch segment saw a decline in EBIT, due mainly to the
macroeconomic situation and flood damage in Austria. The most challenging
situation was that in the Sugar segment, where high imports from Ukraine
and subdued consumption led to a very significant price decline in the EU
sugar market.
“The persistently challenging market environment, shaped by economic
uncertainty, geopolitical crises and high commodity volatility, reinforces
our determination to swiftly and decisively implement AGRANA NEXT LEVEL,
our new Group strategy. The aim is to reduce our exposure to market
volatility and raise baseline profitability. Through our Group’s planned
transformation into a structure combining a streamlined strategic holding
company with two overarching business areas – ‘Agricultural Commodities &
Specialities’ and ‘Food & Beverage Solutions’ – we are pooling our
strengths and unlocking synergy potential on both the market and cost
sides,” emphasises Büttner. The resulting annual savings potential, which
will be fully effective from the 2027|28 financial year, amounts to
approximately € 80 million to € 100 million. About 10% of this was already
achieved in the 2024|25 financial year through restructuring and cost
reductions.
AGRANA Group results
€ million, except as otherwise FY 2024|25 FY 2023|24 Change % or pp
indicated
Revenue 3,514.0 3,786.9 –7.2%
EBITDA(1)(1) 190.9 291.1 –34.4%
Operating profit before exceptional
items and results of equity-accounted 76.5 176.6 –56.7%
joint ventures
Share of results of equity-accounted 0.5 1.4 –65.2%
joint ventures
Exceptional items (36.4) (27.0) –34.6%
Operating profit (EBIT) 40.5 151.0 –73.2%
EBIT margin 1.2% 4.0% –2.8pp
(Loss)/profit for the period (0.0) 69.4 –100%
(Loss)/earnings per share (€) (0.07) 1.04 –106.7%
Investment(2)(2) 113.7 127.3 –12.0%
Number of employees(3)(3)^ 8,980 8,876 +1.2%
Net financial items amounted to an expense of € 36.8 million in the
2024|25 financial year (previous year: expense of € 53.3 million), with
the improvement driven primarily by very significantly more favourable
currency translation effects (which include the interest portion of
currency swaps). Profit before tax fell very significantly from the prior
year’s € 97.7 million to € 3.7 million. After an income tax expense of
€ 3.8 million, representing a tax rate of 100.7% (previous year: 29.0%),
the Group recorded a loss for the period of € 0.0 million (previous year:
profit of € 69.4 million). The loss for the period attributable to
shareholders of AGRANA was € 4.3 million (previous year: profit of € 64.9
million); the loss per share was € 0.07 (previous year: earnings per share
of € 1.04). Free cash flow improved very significantly to € 259.1 million
(previous year: € 129.2 million).
Total assets as of 28 February 2025, at € 2,710.9 million, decreased
moderately from one year earlier (29 February 2024: € 2,889.4 million),
with an equity ratio of 45.4% (29 February 2024: 43.2%). Net debt as of
28 February 2025 was € 436.4 million, a reduction of € 199.7 million from
the 2023|24 year-end level. The gearing ratio (net debt to total equity)
thus improved substantially to 35.5% at the balance sheet date
(29 February 2024: 51.0%).
In line with the long-term orientation of AGRANA’s dividend policy of
continuity, the Management Board will propose to the Annual General
Meeting to pay a dividend of € 0.70 per share for the year (dividend for
2023|24: € 0.90 per share).
Fruit segment
€ million, except as otherwise FY 2024|25 FY 2023|24 Change % or pp
indicated
Revenue 1,630.4 1,566.9 4.1%
Operating profit (EBIT) 99.7 60.2 65.6
EBIT margin 6.1% 3.8% 2.3pp
Revenue in the Fruit segment grew by 4.1% year-on-year. This was
attributable mainly to price gains, but also to higher sales volumes of
fruit preparations and very satisfactory business with apple juice
concentrates as well as the value-added portfolio, particularly aromas
(flavours).
In the Fruit segment, EBIT rose by 65.6%, partly due to a significant
improvement in pre-exceptionals operating profit in the fruit preparations
business. Good earnings were achieved above all in the Europe region
(which includes Ukraine) and in Mexico and Australia.
Starch segment
€ million, except as otherwise FY 2024|25 FY 2023|24 Change % or pp
indicated
Revenue 1,014.0 1,148.7 –11.7%
Operating profit (EBIT) 31.9 50.4 –36.7%
EBIT margin 3.1% 4.4% –1.2pp
In the Starch segment, the 2024|25 financial year was characterised by
macroeconomic pressure on product prices. Following the decline in sales
volumes in 2023|24, the quantities of core and by-products sold rose again
moderately in the year under review.
However, Starch segment revenue decreased by 11.7% as a result of price
effects. With declining raw material and energy prices, market prices for
the segment’s products also retreated noticeably year-on-year, impacting
the selling prices obtained for the entire product portfolio. Ethanol
prices, for example, dropped by about 14% amid a significant fall in
Platts prices.
Lower sales prices, inflation-induced increases in staff costs and a
flood-related production stoppage at the plant in Pischelsdorf, Austria,
led to a significant year-on-year decline in EBIT of 36.7% in the Starch
segment.
Sugar segment
€ million, except as otherwise FY 2024|25 FY 2023|24 Change % or pp
indicated
Revenue 869.6 1,071.3 –18.8%
Operating (loss)/profit (EBIT) (91.1) 40.4 –325.7%
EBIT margin –10.5% 3.8% –14.2pp
Revenue in the Sugar segment fell by 18.8% from the year before. In
2024|25, sales prices in both the reseller business (wholesalers and
retailers) and in the industrial sector were well below the average of the
previous year.
The European sugar market was hurt primarily by the enormous volumes of
sugar imported from Ukraine, especially into the Eastern European deficit
countries. AGRANA conducted intensive export activities to compensate for
significantly lower sales volumes in the home markets.
A negative net exceptional items expense of € 28.3 million in the Sugar
segment was related largely to the restructuring under the AGRANA NEXT
LEVEL strategy project and consisted predominantly of impairment losses on
assets.
Outlook
AGRANA expects Group EBIT for the full 2025|26 financial year to be steady
at the previous year’s level. Revenue is forecast to decrease slightly
(i.e., by more than 1% and up to 5%). Regarding the outlook statements, it
should be noted that further impacts from the ongoing war in Ukraine are
likely, along with the associated continuing overall intensification of
the already high volatility in the markets both for products and
procurement. This applies particularly with regard to the further
trajectory of duty-free Ukrainian agricultural imports (notably of sugar
and grain) into the EU. In addition, the economic and financial impacts
and duration of the upheaval in the global tariff landscape are difficult
to forecast.
Total investment across the three business segments in the new financial
year, at approximately € 120 million, is expected to be moderately higher
than the 2024|25 value and slightly above the budgeted depreciation of
€ 115 million.
About AGRANA
AGRANA converts agricultural raw materials into high-quality foods and
numerous industrial intermediate products. About 9,000 employees at 51
production sites worldwide generate annual Group revenue of approximately
€ 3.5 billion. Established in 1988, the company is the global market
leader in fruit preparations and the world’s leading producer and vendor
of apple and berry juice concentrates. As well, its Starch segment is a
major manufacturer of custom starch products (made from potato, corn and
wheat) and of bioethanol. AGRANA is the leading sugar producer in Central
and Eastern Europe.
For queries, please contact:
Markus Simak, Public Relations
+43 1 21137 12084, (4)markus.simak@agrana.com
Hannes Haider, Investor Relations
+43 1 21137 12905, (5)hannes.haider@agrana.com
This announcement is available in German and English at (6)www.agrana.com.
(7)^(1) EBITDA represents operating profit before exceptional items,
results of equity-accounted joint ventures, and operating depreciation and
amortisation.
(8)^(2) Investment represents purchases of property, plant and equipment
and intangible assets, excluding goodwill.
(9)^(3) Average number of full-time equivalents in the financial year.
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09.05.2025 CET/CEST This Corporate News was distributed by EQS Group.
www.eqs.com
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Language: English
Company: AGRANA Beteiligungs-Aktiengesellschaft
F.-W.-Raiffeisen-Platz 1
A-1020 Wien
Austria
Phone: +43-1-21137-0
Fax: +43-1-21137-12926
E-mail: investor.relations@agrana.com
Internet: www.agrana.com
ISIN: AT000AGRANA3
WKN: A2NB37
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt,
Munich, Stuttgart, Tradegate Exchange; Vienna Stock Exchange
(Official Market)
EQS News ID: 2133598
End of News EQS News Service
2133598 09.05.2025 CET/CEST
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