EANS-News

AGRANA Beteiligungs-AG / AGRANA EBIT grows 45% ? Outlook: Significant earnings growth confirmed for full year 2017|18

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Mid Year Results/Mid Year Financial Report

Vienna -
AGRANA, the Sugar, Starch and Fruit manufacturer, is delivering compelling
results for the first half of the 2017|18 financial year. Operating profit
(EBIT) grew to EUR 130.6 million, a substantial improvement of 44.5% from one
year earlier. The Group's revenue rose slightly, by 3.2% to EUR 1,362.1 million
(H1 prior year: EUR 1,320.3 million). AGRANA Chief Executive Officer Johann
Marihart says: "AGRANA had a very satisfactory first half of 2017|18 in all
three business segments. We are especially pleased with the significant profit
growth in the Starch segment, where productivity gains and higher ethanol
quotations enabled EBIT to surpass the already very good year-earlier result.
While in the Sugar segment our earnings were improved by a year-on-year increase
in sugar sales prices, EBIT in the Fruit segment was pushed up by higher sales
volumes both in the fruit preparations and fruit juice concentrate businesses."

AGRANA Group consolidated financial results
EUR million, except %


H1 2017|18 H1 2016|17
Revenue 1,362.1 1,320.3
EBITDA* 149.6 114.2
Operating profit before exceptional items** 113.4 78.3
Share of results of equity-accounted joint ventures 20.0 15.0
Exceptional items (2.8) (2.9)
Operating profit (EBIT) 130.6 90.4
EBIT margin 9.6% 6.8%
Net financial items (8.9) (10.3)
Profit for the period 97.3 62.6
Investment*** 58.1 42.4




Q2 2017|18 Q2 2016|17
Revenue 677.9 654.8
EBITDA* 72.0 56.1
Operating profit before exceptional items** 53.7 37.7
Share of results of equity-accounted joint ventures 9.9 8.6
Exceptional items (2.8) (2.9)
Operating profit (EBIT) 60.8 43.4
EBIT margin 9.0% 6.6%
Net financial items (4.1) (2.8)
Profit for the period 46.4 31.8
Investment*** 36.6 23.8



* EBITDA represents operating profit before exceptional items, results of
equity-accounted joint ventures, and operating depreciation and amortisation
** Operating profit before exceptional items and results of equity-accounted
joint ventures
*** Investment represents purchases of property, plant and equipment and
intangible assets, excluding goodwill


Net financial items improved to a net expense of EUR 8.9 million from the year-