EQS-Ad-hoc: AGRANA Beteiligungs-Aktiengesellschaft / Key word(s): Half
Year Results/Forecast
AGRANA Beteiligungs-Aktiengesellschaft: Operational results better than
expected in H1 2022|23; impairment of € 91.3 million burdens EBIT due to
ongoing Ukraine War

21-Sep-2022 / 17:17 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the
Regulation (EU) No 596/2014, transmitted by EQS – a service of EQS Group
AG.
The issuer is solely responsible for the content of this announcement.

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AGRANA: Operational results better than expected in H1 2022|23; impairment
of € 91.3 million burdens EBIT due to ongoing Ukraine War

Positive consolidated EBIT guidance for the full 2022|23 financial year
remains unchanged

 

Besides the ongoing war in Ukraine and the volatility on energy and
commodity markets, the rising costs of capital in particular necessitated
an impairment test of the cash generating unit Fruit to coincide with the
end of the first half year (31 August 2022). This resulted in non-cash
impairments of assets and goodwill in the amount of € 91.3 million on the
operating profit (EBIT) in the first half year 2022|23 (1 March to 31
August 2022).

The operating profit before any exceptional items and results of
equity-accounted joint ventures of the Group in H1 2022|23 was better than
anticipated and, at € 86.5 million, was considerably higher than the prior
year level (H1 2021|22: € 41.0 million). One of the drivers of the strong
operational performance was the improvement in ethanol operations. It was
also possible to return the Sugar segment to profitability. Revenue in H1
2022|23 rose by nearly 26 % to € 1,792.3 million.

All figures in €m H1 2022|23 H1 2021|22 Q2 2022|23 Q2 2021|22
Revenue 1,792.3 1,424.4 906.0 718.6
Operating profit before any
exceptional items and results
of equity-accounted joint
ventures 86.5 41.0 41.6 22.3
Share of results of
equity-accounted joint
ventures 13.5 6.1 6.9 3.9
Exceptional items^1 (89.0) (2.3) (89.1) (2.3)
Operating profit (EBIT) 11.0 44.8 (40.6) 23.9

^1 Including asset and good will impairments in the Fruit segment

 

The guidance of a very significant increase (by more than +50%) in
consolidated EBIT in the full financial year 2022|23 remains valid despite
the asset and goodwill impairment charge (EBIT 2021|22: € 24.7 million). A
significant increase (ranging from +10% to +50%) in the operating profit
before any exceptional items and results of equity-accounted joint
ventures is forecast (operating result 2021|22: € 86.5 million).

The above guidance is based on assumptions that the war in Ukraine remains
regional, physical supplies of energy and other commodities are sustained
and that the sharp rises in prices, particularly in the commodities and
energy sectors, can be passed on in revised customer contracts.

Further details relating to the development of business in the first half
of 2022|23 and the various segments will be published by the Group as
scheduled on 13 October 2022.

This announcement is available in German and English at
[1] www.agrana.com/en.

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21-Sep-2022 CET/CEST News transmitted by EQS Group AG. www.eqs.com

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Language: English
Company: AGRANA Beteiligungs-Aktiengesellschaft
F.-W.-Raiffeisen-Platz 1
A-1020 Wien
Austria
Phone: +43-1-21137-0
Fax: +43-1-21137-12926
E-mail: investor.relations@agrana.com
Internet: www.agrana.com
ISIN: AT000AGRANA3
WKN: A2NB37
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt,
Munich, Stuttgart, Tradegate Exchange; Vienna Stock Exchange
(Official Market)
EQS News ID: 1447663

 
End of Announcement EQS News Service

1447663  21-Sep-2022 CET/CEST

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