EANS-News AGRANA grows revenue and EBIT in Q1 2020|21

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09.07.2020, 09:40  |  187   |   |   

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Quarterly Report

Vienna - Financial first quarter of 2020|21 at a glance

- Revenue: EUR 652.6 million (+2.2%; Q1 prior year: EUR 638.4 million)

- EBIT: EUR 32.0 million (+3.6%; Q1 prior year: EUR 30.9 million)

- EBIT margin: 4.9% (Q1 prior year: 4.8%)

- Profit for the period: EUR 19.2 million (+4.9%; Q1 prior year: EUR 18.3
million)

- Equity ratio: 54.9% (29 February 2020: 54.4%)

- Forecast for full year 2020|21 (on a pre-COVID-19 basis): significant increase
in EBIT and revenue


In the first quarter of the 2020|21 financial year (ended 31 May 2020), AGRANA,
the fruit, starch and sugar company, achieved a slight increase in both revenue
and operating profit (EBIT) despite the COVID-19 crisis. AGRANA Chief Executive
Officer Johann Marihart comments: "The key factor in the solid Group EBIT was a
very significant profitability improvement in the Sugar segment compared to the
same quarter last year. EBIT in the Starch segment was moderately below the
year-earlier level, with the decline due mainly to a short-term slump in
bioethanol prices at the beginning of the COVID-19 pandemic, which have since
recovered again. Ethanol sales remained stable in volume terms despite the
lockdown, thanks to the firm export market for bioethanol with high CO2
reductions and to the sale of 10 million litres into the disinfectant sector. In
the Fruit segment, earnings were significantly below those of one year ago.
Thus, the performance of the fruit juice concentrate activities was down as a
result of the prior-year harvest and there were COVID-19-related decreases in
the fruit preparations business."


Results in each business segment in Q1 2020|21

FRUIT segment
Revenue in the Fruit segment, at EUR 303.7 million, was off slightly from one
year earlier. Revenue from fruit preparations fell somewhat, as a result of
lower sales volumes. In the fruit juice concentrate business as well, volumes
were the reason for a moderate revenue decline relative to a year ago. EBIT in
the Fruit segment was EUR 16.0 million in the first three months, a reduction of
26.6% year-on-year. The causes of the deterioration lay primarily in the fruit
juice concentrate business, which notably saw reduced delivery volumes in
combination with lower contribution margins of apple juice concentrates produced
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EANS-News AGRANA grows revenue and EBIT in Q1 2020|21 - Corporate news transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is responsible for the content of this announcement. - Quarterly Report Vienna - Financial first quarter of 2020|21 at a glance - Revenue: EUR …

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