Agrana Q1 Report 2024
Following the Group’s solid operating profit (EBIT) for the full year 2023|24, which was presented at the recent Annual General Meeting on July 5, 2024, AGRANA started the 2024|25 financial year with significantly reduced EBIT of € 32.3 million for the first quarter. The significant EBIT decline was attributable mainly to lower prices for sugar and starch products. Business in the Fruit segment was better, leading to a significant increase in Fruit EBIT.
Sales volumes rose slightly overall at Group level, but some major categories, such as non-food starch products, continue to be hurt by the sluggish economy. A combination of subdued consumption and high import volumes from Ukraine is driving down prices significantly in the EU sugar market and had a corresponding negative impact on earnings. While we are pleased to have reason to expect sufficient raw material availability in the coming beet campaign in autumn 2024 thanks to the positive contracting results last winter, the generally good crop forecast in the EU for the 2024 campaign has further heightened the supply pressure.
Highlights
- Revenue: € 944.3 million (−2.3%; Q1 prior year: € 966.1 million)
- EBIT: € 32.3 million (-49.1%; Q1 prior year: € 63.5 million)
- EBIT margin: 3.4% (Q1 prior year: 6.6%)
- Profit for the period: € 16.1 million (-57.6%; Q1 prior year: € 38.0 million)
- Equity ratio: 46.7% (29 February 2024: 43.2%)
- Gearing ratio: 48.7% (29 February 2024: 51.0%)
- Number of employees (FTE)2: 9,077 (+3.2%; Q1 prior year: 8,797)
