AD-HOC
13 Jan 2011
Good trend in financial results continues in first nine months
Revenue growth of 5.8% to € 1,624.4 million (Q1-Q3 2009|10: € 1,535.8 million), Operating profit improvement of 32.8% to € 104.8 million (Q1-Q3 2009|10: € 78.9 million), Increase in operating margi...
- Revenue growth of 5.8% to € 1,624.4 million (Q1-Q3 2009|10: € 1,535.8 million)
- Operating profit improvement of 32.8% to € 104.8 million (Q1-Q3 2009|10: € 78.9 million)
- Increase in operating margin to 6.5% (Q1-Q3 2009|10: 5.1%) - While raw material costs rose in the third quarter as anticipated, increases in selling prices partly made up for this, thus keeping the strain on margins milder than expected, especially in the Sugar and Starch segments.
- Improvement of 12.5% in profit for the period to € 65.0 million (Q1-Q3 2009|10: € 57.8 million)
- Gearing of 41.4% (28 February 2010: 41.6%)
- For the 2010|11 financial year, revenue is projected to grow to more than € 2 billion. The good third quarter now leads AGRANA to expect a significant increase in full-year operating profit before exceptional items.
Results at a glance (IFRS):
| in € (except margin and staff count) | Q3 2010|11 | Q3 2009|10 | Q1-Q3 2010|11 | Q1-Q3 2009|10 |
| Revenue | 551.0 m | 501.6 m | 1,624.4 m | 1,535.8 m |
| Operating profit before exceptional items | 40.0 m | 35.0 m | 104.8 m | 78.9 m |
| Operating margin | 7.3 % | 7.0 % | 6.5 % | 5.1 % |
| Profit before tax | 35.8 m | 27.6 m | 84.5 m | 74.0 m |
| Profit for the period | 27.7 m | 23.0 m | 65.0 m | 57.8 m |
| Earnings per share | 1.85 | 1.58 | 4.43 | 4.04 |
| Purchases of property, plant and equipment and intangibles (other than goodwill) | 8.8 m | 9.2 m | 28.0 m | 25.5 m |
| Staff count | 8,558 | 8,117 |
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