Alle Storys
Folgen
Keine Story von AGRANA Beteiligungs-AG mehr verpassen.

AGRANA Beteiligungs-AG

euro adhoc: AGRANA Beteiligungs-AG
quarterly or semiannual financial statement / AGRANA - Revenue up 3% - operating profit of EUR 87.4 million in the first three quarters of 2007|08 Third-quarter operating profit (after exceptionals) at last ...

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
9-month report/AGRANA
15.01.2008
In the first three quarters of 2007|08  AGRANA,  the  sugar,  starch 
and  fruit group, raised its revenue by about 3% to EUR 1,418.7  
million  (Q1-Q3  2006|07: EUR 1,380.4 million). While the Starch  and
Fruit  segments  generated significant revenue growth of 25% and 10% 
respectively, Sugar revenue declined by  9%  amid the difficult 
conditions in the European sugar market. Operating profit  before 
exceptional items for the first nine months was EUR 87.4 million, 
down  2.6%  from EUR 89.7 million in the first  three  quarters  
2006|07.  In the  third  quarter, operating profit after exceptional 
items (restructuring), at  EUR  30.6  million, was held steady 
compared to the prior-year level of EUR 30.5 million.
"The reform-driven decrease in sugar revenue  was  successfully  
offset  in  the first nine months by AGRANA's other two  revenue  
streams,"  says  AGRANA  Chief Executive Officer Johann Marihart in 
commenting  on  the  business  performance. "However, the 2007  
calendar  year  brought  price  increases  in  raw  material markets 
on a scale that poses a considerable challenge to all  segments  of  
our business. In this environment, the steady third-quarter operating
profit  after exceptional items is in our view quite a satisfactory 
result," adds Marihart.
Third quarter of 2007|08
AGRANA IFRS results (quarter ended November 30, 2007)
Third quarter       Third quarter
                                  2007|08             2006|07
Revenue                EURm         485.3               457.3
Operating profit       EURm          33.0                30.5
Bioethanol exceptional EURm          (2.4)                  -
items
Operating profit after EURm          30.6                30.5
exceptional items
Profit before tax      EURm          17.7                28.9
Profit for the period  EURm          13.1                22.7
Earnings per share     EUR            0.94                 1.53
The third quarter was positive across the board with revenue growth 
of 6%  to EUR 485.3 million (Q3 2006|07: EUR 457.3 million). 
Operating profit after exceptional items (restructuring) was EUR 30.6
million, holding  the  prior-year  level  of  EUR 30.5 million. 
However, owing to weaker Eastern European currencies, the  Group's 
profit of the third quarter decreased to EUR 13.1 million  (Q3  
2006|07:  EUR  22.7 million).
First nine months of 2007|08 Group revenue in the first three 
quarters of 2007|08 was EUR 1,418.7 million (Q1-Q3 2006|07: EUR 
1,380.4 million). Net financial items were EUR -15.7 million  (Q1-Q3 
2006|07: EUR -11.9 million) as a result  of  increased  financing  
costs  for  the extensive capital investment  and  the  higher  
interest  rates.  The resulting profit before tax in  the  first  
three  quarters  was  E  67.7 million  (Q1-Q3 2006|07: EUR 77.8 
million). After taxation at an effective rate of  26.6%  (Q1-Q3 
2006|07: 28.0%), profit for the period was EUR  49.7  million (Q1-Q3 
2006|07:  EUR 56.0 million).
AGRANA recorded capital expenditure of EUR 157.2 million  during  the
first nine months of 2007|08 (Q1-Q3 2006|07: EUR 86.2 million). The 
main areas of investment were the starch and bioethanol activities.  
Capital  expenditure  in the  Sugar segment related primarily to the 
new raw sugar refinery in Brcko, Serbia.
AGRANA IFRS results (three quarters ended November 30, 2007)
First three quarters        First three quarters
                                of 2007|08        of 2006|07
Revenue                EURm        1,418.7           1,380.4
Operating profit       EURm           87.4              89.7
Bioethanol exceptional EURm           (4.0)                -
items
Operating profit after EURm           83.4              89.7
exceptional items
Profit before tax      EURm           67.7              77.8
Profit for the period  EURm           49.7              56.0
Earnings per share     EUR             3.49               3.76
Investment: purchases                157.2               86.2
of property, plant and EURm
equipment and
intangible assets[1]
Staff count                          8,595              8,383
Revenue by segment
in EURm                First three quarters  First three quarters
                       of 2007|08            of 2006|07
Sugar segment               595.3                  652.8
Starch segment              231.9                  186.1
Fruit segment               644.5                  583.6
Inter-segment
eliminations                (53.1)                (42.0)
AGRANA Group revenue      1,418.7                1,380.4
Sugar segment
The absence of C-sugar exports and the  lower  quota  sugar  sales  due  to  the
preventive quota withdrawal were responsible for the revenue decrease of  9%  in
the Sugar segment during the first three quarters  to  EUR  595.3  
million (Q1-Q3 2006|07: EUR 652.8 million). As a result of the lower 
sales  quantities and  the payments into the EU restructuring  fund, 
the  segment  reported  an operating profit of EUR 28.9 million 
(Q1-Q3 2006|07: EUR 38.2 million)
Starch segment Revenue in the Starch segment was EUR 231.9 million in
the first  three quarters, 25% higher than the prior-year  
comparative  level  of  EUR  186.1 million.  This growth was driven 
by an increase  in  sales  of  saccharification  products  and 
bioethanol as well as higher market prices. Segment operating profit 
was EUR  27.9 million compared to EUR 22.4 million in the first three
quarters of  2006|07.  The profit expansion resulted from the volume 
growth and  a  higher  component  of value added.
Net exceptional items in the starch segment - an expense  of  EUR  
4.0  million - represented the non-capitalisable costs of the 
construction  of  the bioethanol plant in Pischelsdorf, Austria.
Fruit segment Revenue of EUR 644.5 million was posted in the Fruit 
segment in  the  first three quarters (Q1-Q3 2006|07: EUR 583.6 
million). Operating profit was EUR 30.6  million (Q1-Q3 2006|07: EUR 
29.1 million). Weather-induced crop failures in Europe led  to a 
pronounced undersupply of raw materials  and  to  volatility  in  the
market. However, thanks to expanded global procurement, AGRANA was 
able  to  cover  its raw material requirements. The price increases  
required to  absorb  the  sharp rise in raw material costs are being 
gradually implemented.
Outlook Raw-material-driven price  increases  for  products  in  the 
Starch  and  Fruit segment will contrast  with  revenue  reductions  
in  Sugar.  The  restructuring measures made necessary by the new  EU
sugar  regime  continue  in  the  fourth quarter. Group revenue for 
the financial year 2007|08 is therefore  expected  to be just under 
EUR 1,900 million (2006|07: EUR 1,915.8 million based on 14 months  
of Fruit results).
For the 2007|08 financial year AGRANA plans to approach  last  year's
operating profit before exceptional items. Expenses  for  the  
bioethanol  operations  and closure costs for the Hungarian sugar 
factory in Petöhaza and  the  Czech  fruit processing facility in 
Kaplice  will,  however,  cause  operating  profit  after exceptional
items (restructuring) to ease slightly from the prior year.
This press release and the report on the first three  quarters  of  
2007|08  are available in German and English on the Internet at 
www.agrana.com.
1 Excluding any goodwill
end of announcement                               euro adhoc

Further inquiry note:

AGRANA Beteiligungs-AG
Mag. Maria Fally
Investor Relations
Tel.: +43-1-211 37-12905
e-mail:maria.fally@agrana.com

Mag. Ulrike Pichler
Public Relations
Tel.: +43-1-211 37-12084
e-mail:ulrike.pichler@agrana.com

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

Weitere Storys: AGRANA Beteiligungs-AG
Weitere Storys: AGRANA Beteiligungs-AG