euro adhoc: AGRANA Beteiligungs-AG
Financial Figures/Balance Sheet
AGRANA
continues growth course during first quarter of 2006|07
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
13.07.2006
The AGRANA Group was able to increase revenues by 67.3 percent over the comparable prior year period to EUR 472.0 million for the first quarter of the current financial year (March 1 to May 31, 2006). Income from operations rose to EUR 35.1 million (Q1 2005|06: EUR 18.4 million). Net profit increased from EUR 14.7 million in first quarter of the prior year to EUR 20.5 million for the first quarter of 2006|07. The development of business during the first quarter of 2006|07 reflects the steady growth of the AGRANA Group in the Fruit Segment. "On the one hand, the improvement in revenues and earnings was due to the full consolidation of the Atys Group and the DSF fruit preparations business in Germany. On the other hand, AGRANA was also able to significantly increase sales volumes in the Sugar Segment through additional exports at high world market prices. The development of the Starch Segment was satisfactory, but results were affected by lower isoglucose prices", commented AGRANA CEO Johann Marihart on the first quarter of 2006|07. Net financial expense for the first quarter of 2006|07 totaled minus EUR 5.9 million (Q1 2005|06: minus EUR 0.6 million) as a result of unrecognized negative foreign exchange differences and higher interest expenses related to fruit acquisitions. Furthermore, the consolidation of the Atys Group was coupled with a decline in income from associates (2005|06: mEUR 1.6).
AGRANA - Indicators according 1st Quarter to IFRS for March 1 to May 31 2006|07 2005|06 in mEUR Revenues 472.0 282.1 Income from operations 35.1 18.4 Profit before tax 29.2 17.7 Net profit for the period 20.5 14.7 Capital expenditure for the 1st quarter 21.8 12.1 Employees 7,812 4,622 Revenues by segment are as follows: 1st Quarter in mEUR 2006|07 2005|06 Sugar Segment 243.0 185.5 Starch Segment 59.6 59.4 Fruit Segment 182.9 46.5 Consolidation (13.5) (9.3) Revenues - AGRANA Group 472.0 282.1 Outlook Compared to the previous year, the AGRANA Group expects an increase in revenues of roughly 20 percent to EUR 1.8 billion for the 2006|07 financial year. This growth will also result from the change in the accounting dates of the fruit companies from December 31 to the last day of February and the related inclusion of two additional months in this financial year. In the Sugar Segment, the expiration of C sugar exports at the end of the second quarter will lead to a slight decline in sugar revenues for the full year. This development will be contrasted with steady revenues growth in the Starch and Fruit Segment. This will be driven by the expansion of capacity in the starch area with a focus on special starch products, an increase in sales of bioethanol in Hungary, acquisitions in the fruit juice concentrate sector in China and sustained strong organic growth. AGRANA intends to invest roughly EUR 200 million in current projects and in the start of construction on a bioethanol plant in Austria during 2006|07. AGRANAs income from operations will be negatively influenced by payments to the European sugar restructuring fund in the following quarters. The favorable influence of the high worldwide sugar price during the first quarter will lose its impact in subsequent quarters due to a lack of export opportunities, even though prices on the European sugar market are expected to recover beginning in autumn 2006. The Fruit Segment will provide the major support for earnings in the current financial year. The steady improvement of business processes in all areas and continued growth in the Starch Segment and Fruit Segment should allow AGRANA to match the level of income from operations that was recorded in the previous year. The press release and the report on the first quarter are available in German and English under www.agrana.com.
end of announcement euro adhoc 13.07.2006 07:23:43
Further inquiry note:
AGRANA Beteiligungs-AG
Doris Schober
Investor Relations/Corporate Communications
Phone: +43-1-211 37-12084
e-mail:investor.relations@agrana.at
Branche: Food
ISIN: AT0000603709
WKN: 779535
Index: ATX Prime, WBI
Börsen: Wiener Börse AG / official market
Original content of: AGRANA Beteiligungs-AG, transmitted by news aktuell