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KTG Agrar SE announces leap in first-half profits to launch of the harvesting season (news with additional features) - Seite 2
24.7 million (EUR 31.0 million incl. extraordinary income). Earnings before
interest and taxes (EBIT) rose by 45.5 percent from EUR 12.0 million to EUR
17.5 million (EUR 23.7 million incl. extraordinary income). The result from
ordinary activities soared 300 percent from EUR 2.3 million to EUR 6.9
million. KTG Agrar's net income for the period improved from EUR 0.7
million to EUR 4.4 million (EUR 10.6 million incl. extraordinary income).
It should be noted in this context that the farming segment will generate
most of its income after the harvest in the second half of the year.
KTG Agrar's financial and net asset position at the six-month stage 2014
was solid. Compared to 31 December 2013, equity increased by EUR 11.5
million to EUR 100.1 million, while the equity ratio climbed from 15.2 to
16.5 percent. Operating cash flow was positive already at the six-month
stage and will again climb notably as the harvest for the full year 2014 is
brought in.
2014: STRONG REVENUE AND EARNINGS GROWTH WITHOUT MAJOR INVESTMENTS
Following on from the strong first half of 2014, KTG Agrar's revenues and
earnings will pick up even further between July and December. Group sales
revenues will pass the EUR 200 million mark significantly. As sales
revenues increase, KTG's earnings will also grow considerably and cash flow
will be clearly positive. The food segment will grow to EUR 100 million in
2014 and thus reach a critical size. The biogas segment exceeded the
expansion targets as of 31 July 2014, when total capacity reached 53 MW.
This capacity expansion under the regulations of the old German Renewable
Energy Sources Act means that KTG Energie AG has established a revenue base
of EUR 80 million p.a. and an EBITDA base of over EUR 22 million. For the
year 2015, KTG Agrar is firmly targeting the EUR 250 million mark.
Says Siegfried Hofreiter: "The past years have seen us build up a unique
value chain from the field to the plate. The year 2014 is only the
beginning of a very successful operating performance."
Secure financing currently takes top priority for KTG Agrar. The company
therefore started refinancing the 2010/2015 corporate bond at an early
stage and offers bondholders the possibility to exchange their shares free
of charge on a 1: 1 basis at 100% of the par value for the new 5-year bond
with a fixed annual coupon of 7.25%. Bondholders were informed of the
details of the 2010/2015 bond exchange by their banks in August 2014. This
information is also available on the company's website at www.ktg-agrar.de.
Key facts and figures of the corporate bond 2014/2019
Following on from the strong first half of 2014, KTG Agrar's revenues and
earnings will pick up even further between July and December. Group sales
revenues will pass the EUR 200 million mark significantly. As sales
revenues increase, KTG's earnings will also grow considerably and cash flow
will be clearly positive. The food segment will grow to EUR 100 million in
2014 and thus reach a critical size. The biogas segment exceeded the
expansion targets as of 31 July 2014, when total capacity reached 53 MW.
This capacity expansion under the regulations of the old German Renewable
Energy Sources Act means that KTG Energie AG has established a revenue base
of EUR 80 million p.a. and an EBITDA base of over EUR 22 million. For the
year 2015, KTG Agrar is firmly targeting the EUR 250 million mark.
Says Siegfried Hofreiter: "The past years have seen us build up a unique
value chain from the field to the plate. The year 2014 is only the
beginning of a very successful operating performance."
Secure financing currently takes top priority for KTG Agrar. The company
therefore started refinancing the 2010/2015 corporate bond at an early
stage and offers bondholders the possibility to exchange their shares free
of charge on a 1: 1 basis at 100% of the par value for the new 5-year bond
with a fixed annual coupon of 7.25%. Bondholders were informed of the
details of the 2010/2015 bond exchange by their banks in August 2014. This
information is also available on the company's website at www.ktg-agrar.de.
Key facts and figures of the corporate bond 2014/2019
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