EQS-News: AGRANA Beteiligungs-Aktiengesellschaft / Key word(s): 9 Month
figures/Quarterly / Interim Statement
AGRANA results for the first three quarters of 2024|25 (ended 30 November
2024)
14.01.2025 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
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AGRANA results for the first three quarters of 2024|25 (ended 30 November
2024)
• Revenue: € 2,707.8 million (–8.1%; Q1-Q3 prior year: € 2,947.8
million)
• EBIT: € 51.1 million (–65.8%; Q1-Q3 prior year: € 149.4 million)
• EBIT margin: 1.9% (Q1-Q3 prior year: 5.1%)
• Profit for the period: € 14.5 million (–81.4%; Q1-Q3 prior year:
€ 78.1 million)
• Outlook for full year 2024|25: very significant EBIT reduction and
moderate decrease in revenue
AGRANA, the fruit, starch and sugar company, generated revenue of
€ 2,707.8 million in the first three quarters of the 2024|25 financial
year, a moderate reduction from € 2,947.8 million in the same period one
year earlier. The decline in revenue despite higher sales volumes was
primarily the result of lower sales prices in the Starch and Sugar
segments. Operating profit (EBIT) in the first three quarters was € 51.1
million, a sharp decrease from the year-ago level of € 149.4
million. AGRANA Chief Executive Officer Stephan Büttner says: “We continue
to face an extremely challenging environment marked by the poor economic
situation in Europe, the recession in Austria and Germany and continued
high volatility in raw material and energy purchasing prices. In the
Starch and Sugar segments, much lower sales prices led to significant
reductions in earnings. This makes it all the more gratifying that, in the
Fruit segment, we were able to grow revenue in the first three quarters
despite the difficult economic conditions and deliver a solid performance
across the board.”
Results in each business segment
FRUIT segment
Revenue in the Fruit segment in the first three quarters was € 1,223.4
million, or slightly above the year-ago value. On the fruit preparations
side, revenue rose for volume reasons, while the increase in fruit juice
concentrate revenue was driven both by volumes and prices. EBIT of the
Fruit segment as a whole rose to € 72.9 million in the first nine months
of the financial year (Q1-Q3 prior year: € 50.1 million). In the fruit
preparations business, EBIT was very significantly above the year-ago
level. The improvement was due partly to a positive operating performance
in Europe and Mexico. The fruit juice concentrate operations also achieved
good EBIT, even if the very strong result of the prior-year comparative
period could not be repeated.
STARCH segment
Revenue of the Starch segment in the first three quarters was € 767.0
million, a level significantly below that of the same period one year
earlier. Owing to the decline in raw material and energy prices, market
prices for the segment’s products decreased noticeably year-on-year, which
affected the selling prices obtained for the entire Starch portfolio.
Ethanol prices, for example, fell by an average of about 20%. At € 28.4
million, EBIT in the Starch segment was down very significantly
year-on-year. The key reason for this was the margin decline in starch
products, driven by significantly lower sales prices for core and
by-products. In the financial third quarter, the shutdown of the plant in
Pischelsdorf, Austria, for several weeks due to flooding had an adverse
impact of about € 7 million on operating profitability.
SUGAR segment
The Sugar segment’s revenue in the first three quarters was € 717.4
million, a significant decrease from the same period one year earlier; the
negative impact of lower sugar sales prices outweighed the effect of
slightly higher sales volumes. Prices in the EU sugar market came under
strong pressure as a result of elevated European stocks, the expectation
of higher sugar production in the 2024/25 campaign, and falling world
market prices. Price pressure was particularly heavy in the resellers
channel in the deficit markets (CEE region) due to the significantly
increased import volumes of Ukrainian sugar. In addition, very low sugar
content in beet crops as a consequence of very poor beet quality grades is
leading to higher-than-expected production costs in the present sugar
campaign. The Sugar segment EBIT result in the first nine months was a
deficit of € 50.2 million, a pronounced deterioration from the
year-earlier period. The current challenges will continue to confront the
European sugar industry in the coming 2025|26 financial year.
The AGRANA Group’s detailed financial results are provided in the interim
statement for the first three quarters of 2024|25 ((1)LINK)
Outlook
For the full 2024|25 financial year, AGRANA expects a very significant
decrease year-on-year of at least 50% in the Group’s EBIT. Operating
profit before exceptional items and results of equity-accounted joint
ventures is forecast to be in the range of € 55 million to € 75 million.
Group revenue is projected to show a moderate decrease.
In the 2024|25 financial year, the AGRANA Group is investing € 120
million, an amount in line with budgeted depreciation. Around 12% of this
capital expenditure will be for emission reduction measures in the Group’s
own production operations, as part of the AGRANA climate strategy.
About AGRANA
AGRANA converts agricultural raw materials into high-quality foods and
numerous industrial intermediate products. About 9,000 employees at 53
production sites worldwide generate annual Group revenue of approximately
€ 3.8 billion. Established in 1988, the company is the world market leader
in fruit preparations and the foremost producer of fruit juice
concentrates in Europe. 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, (2)markus.simak@agrana.com
Hannes Haider, Investor Relations
+43 1 21137 12905, (3)hannes.haider@agrana.com
This announcement is available in German and English at (4)www.agrana.com.
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14.01.2025 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: 2066669
End of News EQS News Service
2066669 14.01.2025 CET/CEST
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