AGRANA Beteiligungs-AG

Earnings Release • Oct 13, 2005

News Details

Ad-hoc | 13 October 2005 08:03

AGRANA Beteiligungs-AG: Rapid Growth in Revenues during H1 2005|06

Ad hoc announcement AGRANA/Semi-Annual Report 2005/06 AGRANA Beteiligungs-AG: Rapid Growth in Revenues during H1 2005|06 Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— The AGRANA Group’s revenues during the first half of the current 2005|06 financial year (1 March through 31 August 2005) were 53.1 per cent up on the same period of 2004|05 at EUR 723.5 million (1st Half 2004|05: EUR 472.4 million). The increase in revenues was largely due to an advance in sugar sales by volume and the addition of the world’s leader in fruit preparations – the Atys Group – to the scope of consolidation as of the second quarter of 2005|06. First-half profit from operating activities advanced by 19.5 per cent to EUR 47.8 million (1st Half 2004|05: EUR 40.0 million). First-half profit after tax grew from EUR 33.5 million to EUR 34.6 million, but consolidated profit for the period net of minority interests fell from EUR 31.7 million to EUR 30.1 million as a result of the increase in minority interests attributable to the Atys Group. Per-share earnings came to EUR 2.12 (1st Half 2004|05: EUR 2.23, adjusted in conformity with IAS 33.64). Because of an advance in sugar sales by volume and the Atys Group’s addition to the scope of consolidation, second-quarter revenues were 80.9 per cent up on the year at EUR 441.3 million (2nd Quarter 2004|05: EUR 244.0 million). Second-quarter profit from operating activities came to EUR 29.4 million, which was 42.0 per cent higher than the previous year’s figure of EUR 20.7 million. Although the Sugar Division’s second-quarter profit from operating activities grew, aggregate first-half profit still declined by 15 per cent. First-half profit from operating activities in the Specialities Segment nearly doubled, increasing by 90 per cent. AGRANA: IFRS Figures 1st Half 1.3. – 31.8. 2005 (EURmn) 2005|06 2004|05 Sales revenues 723.5 472.4 Profit from operating activities 47.8 40.0 Profit before income tax 44.8 39.6 Profit after income tax 34.6 33.5 Consolidated earnings 30.1 31.7 Earnings per share (EUR) 2.12 2.23* Capital expenditure on tangible fixed assets 38.4 22.2 Staff 8,055 4,590 * Prior-year figure adjusted in accordance with IAS 33.64. Outlook The addition of the Atys Group to the scope of consolidation in the second quarter of the 2005|06 financial year generated a growth surge that will boost full-year revenues to an estimated EUR 1,430 million. The Specialities Segment will continue to develop dynamically and will account for over 50 per cent of AGRANA’s total revenues in the period up to year-end. In view of the rise in campaign energy costs and the cut in sales by volume of quota sugar, profits in the Sugar Division are expected to weaken during the second half of 2005|06. Declassification should firm up the market price of sugar. The rise in profits in the Specialities Segment (starch and fruit) is likely to continue, and the segment’s contribution to aggregate full-year profits should more than double versus last year. AGRANA Beteiligungs-AG Donau-City-Straße 9 (Strabag-Haus) 1220 Wien Austria ISIN: AT0000603709 WKN: 060370 Listed: Amtlicher Handel in Wien End of ad hoc announcement (c)DGAP 13.10.2005 130803 Okt 05