EQS-News

AGRANA has strong operating performance in first three quarters

EQS-News: AGRANA Beteiligungs-Aktiengesellschaft / Key word(s): 9 Month figures AGRANA has strong operating performance in first three quarters 12.01.2023 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. AGRANA has strong operating performance in first three quarters

• Revenue growth of 26.4% to € 2,742.5 million
   
• Strong operating profit of € 121.6 million before exceptional items and results of equity-accounted joint ventures, an increase of 77.0%
   
• Impairment of goodwill and assets in Fruit segment in Q2 2022|23 leads to reduction of 33.9% in Group EBIT to € 50.2 million
   
• Outlook: Reiterating the forecast for full year 2022|23, with very significant increase in EBIT and significant growth both in “operating profit before exceptional items and equity-accounted joint ventures” and in revenue.

 

In the first three quarters of the 2022|23 financial year (the nine months ended 30 November 2022), AGRANA, the fruit, starch and sugar group, recorded revenue of € 2,742.5 million, an increase of 26.4% compared to the year-earlier period (Q1-Q3 prior year: € 2,169.6 million). An even more powerful gain was the 77.0% rise in “operating profit before exceptional items and equity-accounted joint ventures” to € 121.6 million (Q1-Q3 prior year: € 68.7 million).

AGRANA Chief Executive Officer Markus Mühleisen comments: “A key driver of the earnings improvement was the Sugar segment’s turnaround in this financial year. In addition to benefiting from the improved sales price environment in this business, we are reaping rewards of the efficiency measures taken in in recent years and of our rigorous cost management. Our strong performance in the first nine months was also helped by the high bioethanol quotations in the first half of the year and by good results in the wheat gluten business. Once again, our diversified, sustainable business model proves a stabilising influence in turbulent times.”