Agrana - Good nine-month performance
Agrana’s strong Q3, with its ability to push through cost increases, led to a good set of results for the first nine months of FY23 (9M23). Revenue was €2.743bn for 9M23, up 26% versus the prior year. Operating profit before exceptional items jumped to €121.6m, +77% versus a year ago. EBIT was €50.2m, down 33.9% vs 9M22, mostly due to an impairment charge in Q2. The outlook for 2022/23 is reaffirmed, with revenues expected to grow ‘significantly’ (ie 10–50%), group EBIT expected to grow ‘very significantly’ (ie over 50%) and operating profit before exceptional items and results of equity-accounted joint ventures expected to grow ‘significantly’.AGRANA Beteiligungs AG (AGRANA) is an Austria-based company that processes agricultural raw materials. The Company manufactures foods and intermediate products for the downstream food industry, as well as for non-food applications. It operates through three segments: Sugar, Starch and Fruit. The products of the Sugar segment are marketed both directly to consumers through food retailers and to the sugar industry. In the Starch segment, the Company processes and refines mainly corn (maize) and potatoes into starch products. The Fruit segment develops and produces fruit preparations (fruit ingredients) and fruit juice concentrates. The Company operates over 50 production sites globally. The Company's subsidiaries include AGRANA Zucker GmbH, AGRANA Starke GmbH, AGRANA Marketing-und Vertriebsservice Gesellschaft mbH, AGRANA Bioethanol GmbH and Main Process SA, among others. The Company also manufactures animal feed and fertilizers.
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