Tonkens Agrar - Calendar 2018 drought affects profits
The prolonged drought during calendar 2018 had an adverse effect on crop yields, particularly potatoes and onions. This resulted in better produce prices, boosting H118/19 (to December 2018) revenue, but the associated reduction in inventories resulted in a €2.2m drop in total operating income and a similar fall in profit before tax. Consequently, management now expects FY18/19 (to June 2019) EBIT will be around break-even.Tonkens Agrar AG. Tonkens Agrar AG is a Germany-based company that provides agricultural services to the food industry and the wholesale trade. The Company's business activities are divided into the areas of milk production and the cultivation, storage, processing and marketing of food crops, with a focus on cereals, potatoes, corn, rape, sugar beets, and onions. In addition, the Company produces energy from biogas plants based and solar energy. The Company operates facilities in Wanzleben, Magdeburg, Stemmern, Kroppenstedty, Osterfeld and Weickelsdorf. The Company operates Boerde Vita GmbH, Milch und Zuchtbetrieb Hendriks GmbH, Agrar und Milchhof Stemmern GmbH, Osterfelder Agrar GmbH, Osterfelder und Boerdelagerhaus GmbH as subsidiaries.
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