Agrana Half-Year Report 2023

AGRANA, the international fruit, starch and sugar group, generated revenue of € 1,959.5 million in the first half of the 2023|24 financial year, an increase of 9.3% year-on-year (H1 prior year: € 1,792.3 million). Operating profit (EBIT) jumped to € 110.9 million (H1 prior year: € 11.1 million).

“AGRANA has adjusted well to the new market dynamics, particularly in raw material and energy prices. This is reflected in a good performance in the first half of the year. Especially the Fruit segment – where business was very good in fruit preparations for the food service industry and in the fruit juice concentrate activities – and the Sugar segment, with strong summer demand from the beverage industry, performed well,” emphasises AGRANA Chief Executive Officer Markus Mühleisen. In the Starch segment, AGRANA is dealing with a sluggish economy and with inventory reduction by customers in Europe. Adjustments in AGRANA’s production kept margins stable in starch products, but earnings in the ethanol business fell sharply from the comparative period due to significantly lower market prices. This led to an overall decline in the Starch segment’s EBIT in the first half of the year.