AGRANA Beteiligungs-AG

Annual / Quarterly Financial Statement • Apr 19, 2004

News Details

Ad-hoc | 19 April 2004 07:46

AGRANA – Provisional Results for 2003/04

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– AGRANA – Provisional Results for 2003/04 The AGRANA Group closed its 2003/04 financial year with a slightly lower profit than in 2002/03. However, the figures for 2003/04 are based on a normal 12-month year, whereas the 2002/03 financial year of the AGRANA International companies was lengthened to 14 months by the changeover of their balance-sheet dates to bring them into line with the group as a whole. AGRANA recorded the following figures in the 12 months up to the close of its financial year on 29 February 2004: 2003/04 2002/03*) +/- +/- EURmn EURmn EURmn % Revenues 866.4 875.7 (9.3) (1.1) Profit from operating activities 76.8 80.5 (3.7) (4.6) Profit before tax 70.7 87.2 (16.5) (18.9) Consolidated earnings for the year 56.5 65.4 (8.9) (13.6) *) 14-month financial year at the AGRANA International companies. Danish fruit-juice concentrates and fruit-juice manufacturer Vallø Saft A/S, acquired by AGRANA in April 2003, was included in the consolidated group for the first time. The 13 per cent fall in profit from operating activities that was still being predicted after the first three quarters on 30 November 2003 was made up for by a very good last quarter. Improved sales and the continuation of structural and cost optimisation programmes throughout the group had a positive impact on results. Allowing for the fact that some companies had a shorter financial year than in 2002/03, AGRANA was able to match the previous year’s excellent profit from operating activities. Profit from investing and financial activities of (6,1) EUR mn was not boosted by any extraordinary proceeds from sales of interests (previous year: disposal of shares in Leipnik-Lundenburger Invest Beteiligungs-AG). Consequently and in the wake of the downward development of a number of Eastern European currencies versus the euro during the preceding 12 months, profit before tax was significantly down on the year. Consolidated earnings for the year did not fall as much because of an improvement in the group’s tax position and therefore it was possible to reach with consolidated earnings of 56,5 EURmn the second best result of AGRANA. The Annual Report containing our final results will be presented at AGRANA’s Results Press Conference on 24 May 2004. This Press Release is also available in the Internet at http://www.agrana.com end of ad-hoc-announcement (c)DGAP 19.04.2004 ——————————————————————————– WKN: 060370; ISIN: AT0000603709; Index: Listed: Amtlicher Handel in Wien 190746 Apr 04