AGRANA Preliminary Results for the 2007|08 Financial YearAd-Hoc Date: 07.05.2008
Based on preliminary data, in the 2007|08 financial year AGRANA, the international sugar, starch and fruit group, generated revenue of € 1,892.3 million (2006|07: € 1,915.8 million). The slight revenue decrease resulted from a base effect, as the prior year, unlike 2007|08, included an additional two months of results in the Fruit segment to align the segment’s year end with that of AGRANA. Based on a straight twelve-month comparison that removes this effect, Group revenue grew by 6%. Operating profit before exceptional items rose from € 107.0 million to € 111.4 million or by 4%, driven largely by the benign trend in the Starch and Fruit segments. Due to restructuring costs and other exceptional items in all segments, operating profit after exceptional items eased from the prior year’s € 105.8 million to € 101.5 million in the 2007|08 financial year.
After taxes, profit for the period was € 63.8 million (prior year: € 71.1 million). The net financial items deficit rose by € 16.1 million, reflecting the capital expenditures and the financing expenses for more working capital as a result of the higher commodity costs.
Preliminary financial results for the year ended 29 February 2008:
2007|08 2006|07 Revenue €m 1,892.3 1,915.8 Operating profit before exceptional items €m 111.4 107.0 Exceptional items, including restructuring €m -9.9 -1.2 Operating profit after exceptional items €m 101.5 105.8 Profit before tax €m 73.1 93.5
Profit for the period
- Attributable to equity holders
of the parent
- Minority interests
Earnings per share € 4.53 4.85
In the 2007|08 financial year, AGRANA remained on a growth trajectory in the Starch and Fruit segments, while business performance in Sugar was affected by the profound changes in the European sugar market and the accompanying need for consolidating measures. Fruit was the largest segment at 45% of Group revenue, followed by Sugar with a share of 40% and Starch with 15% of revenue.
The final results for the 2007|08 financial year will be published on 21 May 2008.