AGRANA - Provisional results for the 2005|06 financial year
According to provisional figures, the AGRANA Group’s revenues grew by 52.9 per cent to € 1,499.6 million in the 2005|06 financial year. Profit from operating activities grew by 9.6 per cent to € 99...
According to provisional figures, the AGRANA Group’s revenues grew by 52.9 per cent to € 1,499.6 million in the 2005|06 financial year.
Profit from operating activities grew by 9.6 per cent to € 99.5 million.
The closure of two out of AGRANA’s 11 sugar factories caused one-off restructuring expenses of € 24.5 million to be recognized in the annual financial statements, reducing profit from ordinary activities to € 75.0 million (2004|05: € 90.8 million).
Consolidated earnings for the year came to € 64.7 million, as against € 84.3 million the year before.
AGRANA’s provisional figures as of and for the financial year ended 28 February 2006 were as follows:
| m€ | 2005|06 | 2004|05 |
| Revenues | 1,499.6 | 981.0 |
| Profit from operating activities | 99.5 | 90.8 |
| Restructuring expenses | -24.5 | - |
| Profit from ordinary activities | 75.0 | 90.8 |
| Profit before tax | 71.7 | 93.2 |
|
Consolidated earnings for the year - of which attributable to shareholders of AGRANA Beteiligungs-AG - of which minorities |
64.7 62.7 2.0 |
84.3 79.9 4.4 |
The sharp rise in revenues was primarily due to the consolidation of the Wink Group as of 1 January 2005 and of the Atys Group—the world’s leader in fruit preparations for the dairy industry—from the second quarter of 2005|06. Growth was reinforced by high anticipatory sugar exports and an increase in world sugar prices.
As expected, profit from operating activities was up on the year at € 99.5 million despite higher energy costs and narrower margins in the sugar industry.
However, restructuring dented profit from ordinary activities to the tune of € 24.5 million, less than half of which will affect cash flow in the next few months.
Another low tax rate of 9.8 per cent (2004|05: 9.5 per cent) left consolidated earnings for the year at € 64.7 million (2004|05: € 84.3 million).
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