AGRANA – A SUCCESSFUL 3rd QUARTER 2002/03
Date: 16.01.2003Q1 – Q3 2002/03
The group’s pleasing business development during the first half of the 2002/03 financial year continued through the third quarter. Revenues during the first three quarters were 8 per cent or € 50 million up on the same period of 2001/02 at € 689.7 million. That was primarily due to the addition of two months to the financial years of the AGRANA International companies (caused by the changeover of their balance-sheet dates from 31 December to the last day of February), whereas revenues reported by the Austrian group-members were static.
Operating profit (EBIT) was 29 per cent or € 16.6 million up on the same period of 2001/02 at € 73.3 million. Thanks both to their two extra months and to the healthy development of volumes and prices in their markets, the group’s foreign subsidiaries posted a 75 per cent increase in operating profit. The Austrian group-members’ profits were unchanged.
The result was a substantial increase in consolidated profit for the first three quarters.
| AGRANA in Q1 – Q3 |
Q1 – Q3 2002/03 |
Q1 – Q3 2001/02 |
+/(-) Change |
|
| Revenues | €mn | 689.7 | 639.9 | 49.8 |
| Operating profit | €mn | 73.3 | 56.7 | 16.6 |
| Profit before tax | €mn | 72.8 | 49.1 | 23.7 |
| Consolidated profit before the deduction of minority interests |
€mn | 52.7 | 31.9 | 20.8 |
| Consolidated profit after the deduction of minority interests |
€mn | 50.5 | 32.5 | 18.0 |
| Investments | €mn | 49.7 (full-year plan) | 28.0 (full-year plan) | 21.7 |
| Staff | 3,998 | 4,378 | (380) |
Outlook for the 2002/03 financial year
In the light of the current figures for the first three quarters of the financial year and in view of the continued weak development of consumption, we are predicting consolidated revenues of about € 855 million during the 2002/03 financial year ending 28 February 2003. That would be slightly up on the previous year’s figure of € 843 million. Our full-year profit should be roughly 15 per cent up on 2001/02.