AGRANA Beteiligungs-AG

euro adhoc: AGRANA Beteiligungs-AG
Financial Figures/Balance Sheet
AGRANA - Fruit segment becomes leading source of revenues and earnings for the first time in 2006|07 financial year

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annual report/AGRANA


The AGRANA group forged ahead with its dynamic growth strategy during the 2006|07 financial year (March 1 to February 28) with further improvements in revenues and results. Revenues increased by 28% to EUR 1,915.8 million (prior year: EUR 1,499.6 million), while operating profit rose by 8% to EUR 107.0 million (after EUR 99.5 million in 2005|06). The increase in revenues was accounted for by a combination of strong organic growth in the Starch and Fruit segments, the adjustment of the financial year of the Fruit subsidiaries through the inclusion of two additional months to coincide with that of the parent company, and by consolidation effects. For the first time in the group´s history, the Fruit segment represented the leading source of sales, with 48% of total revenues, exceeding both the Sugar and Starch segments, with 41% and 11% respectively. Fruit operations were also the top performer in terms of operating profit (with 42%) ahead of the Sugar (31%) and Starch segments (27%). As in the previous year, the Management Board and Supervisory Board will be recommending a dividend payment of EUR 1.95 per share at the Annual Shareholders´ Meeting on July 5, 2007.

@@start.t2@@(EURm)                                                        2006|07        2005|06          +/-
Revenues                                                  1,915.8         1,499.6         + 28%
Operating profit                                         107.0              99.5         +  8%
Exceptional items|
restructuring charges                                  (1.2)         (24.5)
Operating profit after
exceptional items                                        105.8              75.0         + 41%
Profit before tax                                         93.5              71.7         + 30%
Profit for the period                                  71.1              64.7         + 10%
  - attributable to shareholders of
      AGRANA Beteiligungs AG                          68.9              62.7
  - minority interests                                  2.2                2.0
Earnings per share (in EUR)                         4.85              4.42         + 10%
Investment in property,
plant & equipment                                        157.4              91.2         + 73%
Staff                                                          8,223            8,130         +  1%

The following is a breakdown of revenues by segment:
Revenues in EURm                                2006|07          2005|06         +/-
Sugar segment                                      804.6                770.4        +  4%
Starch segment                                    253.4                232.5        +  9%
Fruit segment                                      914.6                541.2        + 69%
Inter-segment revenues                        (56.8)              (44.5)
Consolidated group revenues            1,915.8            1,499.6        + 28%

Results of 2006|07 financial year In spite of the combined burdens of the EU sugar market reform and increases in energy and raw material costs the operating profit rose by 8% to EUR 107.0 million (prior year: EUR 99.5 million). The construction of the AGRANA bioethanol plant in Pischelsdorf, Austria, led to a balance of exceptional items of minus EUR 1.2 million which, in turn, resulted in an operating profit after exceptional items of EUR 105.8 million (prior year: EUR 75.0 million). Operating profits from the Fruit segment more than compensated for the drop in results reported by the Sugar and Starch segments. Due to a combination of higher interest-based expenses of EUR 7.0 million, largely associated with acquisitions in the Fruit segment, and the absence of the at-equity result of the former Atys group, the financial result fell by EUR 9.0 million to minus EUR 12.3 million (prior year: minus EUR 3.3 million). In the first quarter of 2005|06, the former Atys group was consolidated at equity as an associated company.

The result before tax climbed by 30% to EUR 93.5 million (prior year: EUR 71.7 million). After taxes at an average rate of 23.9% (prior year: 9.8%), the profit for the period before minority interests increased by 10% to EUR 71.1 million (prior year: EUR 64.7 million). Earnings per share consequently rose by nearly 10% to EUR 4.85 (from EUR 4.42).

Outlook Overall, AGRANA expects revenues in the 2007|08 financial year to be just under EUR 1.9 billion, or marginally below the level achieved in the 2006|07 period. This will be accounted for by the shorter reporting period for the fruit segment (12 instead of 14 months) and the lower volumes of sugar available for sale than in the previous year. Additional organic growth in the Starch and Fruit segments is not expected to fully offset these effects. In the 2008|09 financial year, however, AGRANA is confident of crossing the two-billion-euro revenue threshold.

This press release and the 2006|07 annual report are available online in German and English at

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ots Originaltext: AGRANA Beteiligungs-AG
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Further inquiry note:
AGRANA Beteiligungs-AG
Doris Schober
Investor Relations/Corporate Communications
Tel.: +43-1-211 37-12084

Branche: Food
ISIN:      AT0000603709
WKN:        779535
Index:    ATX Prime, WBI
Börsen:  Wiener Börse AG / official market

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