AGRANA Preliminary Results for the Financial Year 2006|07
Ad-Hoc Date: 07.05.2007Based on preliminary data, AGRANA, the international sugar, starch and fruit group, achieved revenue growth of 28% to EUR 1,915.8 million in the 2006|07 financial year (2005|06: EUR 1,499.6 million).
Operating profit after exceptional items rose by 41% to EUR 105.8 million, from EUR 75.0 million in the previous year.
Despite higher tax expenses, net profit for the period expanded by 10% to EUR 71.1 million (2005|06: EUR 64.7 million).
For the financial year ended 28 February 2007, AGRANA presents the following preliminary results:
|
EUR mn except per share data |
2006|07 |
2005|06 |
+ (-) |
|
Revenue |
1,915.8 |
1,499.6 |
+ 28% |
|
Operating profit[1] |
107.0 |
99.5 |
+ 8% |
|
Exceptional items |
(1.2) |
(24.5) |
|
|
Operating profit after exceptional items |
105.8 |
75.0 |
+ 41% |
|
Profit before tax |
93.5 |
71.7 |
+ 30% |
|
Net profit for the period - Attributable to equity - Minority interests |
71.1 68.9 2.2 |
64.7 62.7 2.0 |
+ 10% |
|
Earnings per share (EUR) |
4.85 |
4.42 |
+ 10% |
[1] Before exceptional items
The key driver of the good revenue trend was the strong organic growth in the Starch and Fruit segments, with Fruit for the first time becoming the Group’s revenue leader.
As well, the change in financial year end of the Fruit companies from a calendar-year basis to the AGRANA year end led to the inclusion of an additional two months’ results and thus contributed to the sales increase.
Added to this were effects from the full-year consolidation of the former Atys Group, which in the 2005|06 comparative data was only included for nine months, and the first-time inclusion of the German fruit preparations business, the former DSF.
Hence, about 48% of revenue came from the Fruit segment, 41% from the Sugar segment and 11% from the Starch segment.
Despite adverse impacts from the reform of the EU sugar regime and the higher energy and raw materials costs, operating profit before exceptionals increased by 8% to EUR 107.0 million (prior year: EUR 99.5 million).
The start-up costs of construction of the AGRANA bioethanol plant in Pischelsdorf, Austria, gave rise to a net negative effect of EUR 1.2 million from exceptional items, resulting in operating profit after exceptional items of EUR 105.8 million (prior year: EUR 75.0 million).
After income taxes calculated at a rate of 23.9% (prior year: 9.8%), net profit for the period was EUR 71.1 million, up 10% compared to the prior year’s EUR 64.7 million.
The final results for the 2006|07 financial year will be published on 21 May 2007.