AGRANA Beteiligungs-Aktiengesellschaft / AT000AGRANA3
14.05.2024 - 07:30:05AGRANA achieves robust results in the 2023|24 financial year
AGRANA Beteiligungs-Aktiengesellschaft / Key word(s): Annual Results 14.05.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. AGRANA achieves robust results in the 2023|24 financial year 2023|24 at a glance (year ended 29 February 2024) - Revenue: € 3,786.9 million (+4.1%; prior year: € 3,637.4 million) - Operating profit before exceptional items and results of equity-accounted joint ventures: € 176.6 million (+11.5%; prior year: € 158.4 million) - Operating profit (EBIT): € 151.0 million (+71.1%; prior year: € 88.3 million) - Earnings per share: € 1.04 (+316.0%; prior year: € 0.25) - Equity ratio: 43.2% (prior year: 41.8%) - Dividend proposal for 2023|24: € 0.90 per share (dividend for 2022|23: € 0.90 per share) Revenue of the AGRANA Group grew by 4.1% in the 2023|24 financial year to € 3,786.9 million. Operating profit (EBIT) was € 151.0 million, fulfilling the guidance of a very substantial increase from the prior year. “Despite a continued volatile environment – in which we adapted well to the market dynamics of raw material and energy prices and sales volumes – we were able to significantly improve our results. The Fruit segment did well operationally; a downside factor in its operating profit was an impairment charge made necessary by the ongoing strained business trend in Asia. In the Starch segment, sales volumes and selling prices, and therefore also operating profit, fell significantly compared to the previous year as a result of the sluggish economy. The Sugar segment significantly improved its capacity utilisation and increased its sugar production volume from the year before. In spite of a decline in sugar sales volume due to increased imports from Ukraine, the sugar business was satisfactory,” said AGRANA CEO Stephan Büttner. AGRANA Group consolidated financial results € million, except as indicated
* 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 **** Average number of full-time equivalents in the financial year Net financial items amounted to an expense of € 53.3 million in the 2023|24 financial year (prior year: net expense of € 26.5 million), with the deterioration driven primarily by an adverse change in net interest expense and, to a lesser degree, in currency translation effects (including the interest portion of currency swaps). Profit before tax grew very significantly from the previous year’s € 61.7 million to € 97.7 million. After an income tax expense of € 28.3 million, representing a tax rate of 29.0% (prior year: 60.0%), the Group recorded a profit for the period of € 69.4 million (prior year: € 24.7 million). Profit for the period attributable to shareholders of AGRANA was € 64.9 million (prior year: € 15.8 million); earnings per share rose to € 1.04 (prior year: € 0.25). Total assets as of 29 February 2024, at € 2,889.4 million, eased slightly from one year earlier (28 February 2023: € 3,003.1 million), with an equity ratio of 43.2% (28 February 2023: 41.8%). Net debt as of 29 February 2024, at € 636.1 million, was € 48.8 million less than at the 2022|23 year-end. The gearing ratio (net debt to total equity) thus eased to 51.0% at the balance sheet date (28 February 2023: 54.5%). In line with the long-term orientation of AGRANA’s dividend policy of continuity, the Management Board will propose to the Annual General Meeting to pay a dividend of € 0.90 per share for the year (dividend for 2022|23: € 0.90 per share). Fruit segment € million, except %
For queries, please contact: Markus Simak Public Relations +43 1 21137 12084 markus.simak@agrana.com Hannes Haider Investor Relations +43 1 21137 12905 hannes.haider@agrana.com This announcement is available in German and English at www.agrana.com. 14.05.2024 CET/CEST This Corporate News was distributed by EQS Group AG. www.eqs.com |
Language: | English |
Company: | AGRANA Beteiligungs-Aktiengesellschaft |
F.-W.-Raiffeisen-Platz 1 | |
A-1020 Wien | |
Austria | |
Phone: | +43-1-21137-0 |
Fax: | +43-1-21137-12926 |
E-mail: | investor.relations@agrana.com |
Internet: | www.agrana.com |
ISIN: | AT000AGRANA3 |
WKN: | A2NB37 |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich, Stuttgart, Tradegate Exchange; Vienna Stock Exchange (Official Market) |
EQS News ID: | 1901869 |
End of News | EQS News Service |
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