EANS-News

AGRANA reaffirms positive outlook for 2021|22 financial year

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EBIT decrease in first quarter of 2021|22

Quarterly Report

Vienna - Financial first quarter of 2021|22 at a glance

- Revenue: EUR 705.8 million (Q1 prior year: EUR 652.6 million)

- EBIT: EUR 20.9 million (Q1 prior year: EUR 32.0 million)

- EBIT margin: 3.0% (Q1 prior year: 4.9%)

- Profit for the period: EUR 12.1 million (Q1 prior year: EUR 19.2 million)

- Equity ratio: 54.5% (28 February 2021: 53.8%)

- Forecast for the full 2021|22 financial year: significant EBIT growth and
moderate rise in revenue


In the first quarter of the 2021|22 financial year (the three months ended 31
May 2021), AGRANA, the fruit, starch and sugar company, saw a reduction in
operating profit (EBIT) from EUR 32.0 million to EUR 20.9 million. The Group's
sales rose slightly to EUR 705.8 million (Q1 prior year: EUR 652.6 million).
AGRANA Chief Executive Officer Markus Mühleisen says: "AGRANA's first quarter of
2021|22 marked a more subdued start to the new financial year than one year
earlier. The key reasons for this were declining earnings in the Starch segment
due to higher raw material costs, and lower sales volumes in the Sugar segment.
The performance of the Fruit segment in the first quarter was stable. Although
this new financial year too is characterised by pandemic-driven high volatility
and the Covid-19 crisis is not over yet, we expect the full year 2021|22 to
bring significant earnings growth from 2020|21. Contributing factors should be a
recovery in the Fruit segment's fruit juice concentrate business with the start
of the 2021 apple campaign, improved market demand in the Starch segment and
rising sugar prices in the Sugar segment."


Results in each business segment for the first quarter of 2021|22


FRUIT segment

Revenue in the Fruit segment, at EUR 320.7 million, was moderately higher than
one year earlier. The revenue growth in the fruit preparations business stemmed
largely from higher sales volumes. Revenue in the fruit juice concentrate
activities saw a slight, price-related decline. EBIT in the Fruit segment as a
whole was EUR 15.9 million, and thus steady year-on-year. In fruit preparations,
EBIT earnings were up significantly from the year-earlier value, thanks
primarily to a positive business performance in the Europe and Russia regions.