euro adhoc: AGRANA Beteiligungs-AG / Financial Figures/Balance Sheet / AGRANA acquits itself well in difficult 2007|08 financial year

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annual report

21.05.2008

In the completed 2007|08 financial year the AGRANA Group sustained
its growth trajectory in the Starch and Fruit segments despite
difficult conditions in raw material procurement. Developments in the
Sugar segment were defined by the consolidation of the sugar market
in the course of the EU sugar regime reform. In the twelve months to
29 February 2007|08, based on final data, AGRANA recorded revenue of
EUR 1,892.3 million, which as expected was slightly off the
prior-year level of EUR 1,915.8 million. The key reason was the
absence of the additional two months of revenue that had been
included in the Fruit segment's prior-year results to align the
segment's year end with that of the AGRANA Group. Based on a
twelve-month comparison that eliminates this effect, Group revenue
grew by 6%.

Thanks to the good performance in the Starch and Fruit segments,
Group operating profit before exceptional items rose from EUR 107.0
million to EUR 111.4 million, or by 4%. As a result of EUR 9.9
million in restructuring costs and other exceptional items in all
segments, however, operating profit after exceptional items eased
from the prior year's EUR 105.8 million to EUR 101.5 million.

"Despite difficult fundamentals such as the global commodity boom and
speculation in agricultural commodities, combined with the reform of
the EU sugar regime, we acquitted ourselves well," notes AGRANA CEO
Johann Marihart in connection with the presentation of the 2007|08
financial results. "Our strategy of diversification through the three
pillars of Sugar, Starch and Fruit, coupled with our strong global
expansion especially in the last few years, has definitely proven
itself in this very challenging market environment."

At the Annual General Meeting on 4 July 2008 the Management Board
will thus propose paying an unchanged dividend of EUR 1.95 per share
for the 2007|08 financial year.

Key results:

2007|08 2006|07
Revenue EURm 1,892.3 1,915.8
Operating profit before exceptional EURm 111.4 107.0
items
Exceptional items EURm -9.9 -1.2
Operating profit after exceptional itemsEURm 101.5 105.8
Profit before tax EURm 73.1 93.5
Profit for the period EURm 63.8 71.1
- Attributable to equity holders of the EURm 64.3 68.9
parent EURm -0.5 2.2
- Minority interests
Earnings per share EUR 4.53 4.85
Purchases of property, plant and EURm 207.7 157.4
equipment and intangibles*
Staff count 8,140 8,223
* Excluding goodwill

External revenue by business segment was as follows:
2007|08 2006|07
Sugar segment EURm 751.7 784.7
Starch segment EURm 288.1 216.5
Fruit segment (2006|07 incl. 14 months)EURm 852.5 914.6
AGRANA Group revenue EURm 1,892.3 1,915.8

Results for 2007|08 financial year

Group operating profit improved before net negative exceptional items
of EUR 9.9 million. Thus, one plant was closed in the Fruit and one
in the Sugar segment in further streamlining measures. As well, the
delay in full commissioning of the bioethanol plant in Pischelsdorf
as a result of the run-up in commodity prices led to one-off
expenses.

Net financial items amounted to a deficit of EUR 28.4 million (prior
year: deficit of EUR 12.3 million), reflecting the brisk investment
activity and the financing of the working capital as a result of the
increase in raw material costs. The resulting profit before tax was
EUR 73.1 million (prior year: EUR 93.5 million) and after-tax profit
before minority interests reached EUR 63.8 million (prior year: EUR
71.1 million). Profit for the period attributable to AGRANA's
shareholders was EUR 64.3 million, compared with EUR 68.9 million in
the year before. Earnings per share were EUR 4.53 (prior year: EUR
4.85).

Ensuring growth through investment - Sustained high equity ratio The
Group's capital expenditures in 2007|08 reached EUR 207.7 million
(prior year: EUR 157.4 million), with the increase of EUR 50.3
million or 32% helping to drive AGRANA's growth. This was also
expressed in the increase of EUR 108.3 million in property, plant and
equipment to EUR 653.3 million. Total equity improved by 3% from the
prior year's EUR 895.5 million to EUR 922.1 million, bringing the
equity ratio to 42%. While non-current borrowings fell visibly by EUR
24.4 million from EUR 331.7 million to EUR 307.3 million, current
borrowings rose from EUR 194.4 million to EUR 370.1 million as a
result of inventory growth and higher commodity costs.

"Although the Starch segment received most of the capital investment
in 2007|08, particularly for the completion of the bioethanol plant
in Pischelsdorf, we also set the stage for sustained growth in the
Fruit segment through important capital projects," says CFO Walter
Grausam. "With an equity ratio of 42% despite the recent surge in our
investment spending, we are very well positioned to keep growing in
the years ahead both through capacity expansion and acquisitions."

Sugar segment External revenue saw a slight decrease of 4% in the
2007|08 financial year to EUR 751.7 million (prior year: EUR 784.7
million), as the EU quota reduction left sales volumes flat or
declining. Nevertheless, the segment's operating profit before
exceptionals was held steady year-on-year at EUR 32.6 million through
a wide range of measures, including energy efficiency improvements
and concentration of business locations. The Sugar segment accounted
for about 40% of Group revenue.

Starch segment The Starch segment, with double-digit growth in
revenue and earnings, was an important driver of AGRANA's business
performance in 2007|08. Thanks to higher sales quantities and price
increases, external revenue was pushed up by 33% to EUR 288.1 million
(prior year: EUR 216.5) million. Despite the rise in raw material
costs, operating profit before exceptional items grew to EUR 35.3
million (prior year: EUR 28.5 million). The non-capitalisable
expenses for the bioethanol plant in Pischelsdorf detracted by EUR
6.8 million from 2007|08 operating profit after exceptional items.
Overall, the Starch segment's share of Group revenue was
approximately 15%.

Fruit segment In 2007|08 AGRANA further expanded its position as the
world's leading manufacturer of fruit preparations for the dairy,
bakery and ice-cream industry. The Group also cemented its market
position as the largest producer of apple and berry juice
concentrates in Europe. External revenue, at EUR 852.5 million (prior
year with 14 months: EUR 914.6 million), was below the year- earlier
level owing to the absence of the additional two months related to
the prior-year alignment of the financial year end. The same was true
of the pre- exceptionals operating profit of EUR 43.5 million (prior
year: EUR 45.6 million). Based on a twelve-month comparison revenue
and operating profit before exceptionals increased. Operating margin
before exceptional items was 5.1%. Restructuring expenses of about
EUR 4.6 million were recorded for, among other things, the planned
closure of the fruit preparations plant in Kaplice in the Czech
Republic. With a share of about 45% of Group revenue, Fruit is
AGRANA's highest-revenue segment. Of the three Group segments, Fruit
also generates the largest share of profit.

Outlook For the 2008|09 financial year, AGRANA expects further growth
in revenue to more than EUR 2 billion. Especially further organic
growth in the Starch segment is to figure prominently in this sales
expansion.

In the Sugar segment, the new EU sugar regime is expected to
significantly stabilise the market. By defending the leading market
position in Central Europe and through further optimisation
activities, AGRANA plans to safeguard the profitability of the sugar
business. However, the reform of the EU sugar regime will continue to
shape the segment's business performance in the coming year.

The Starch segment maintains its consistent strategic focus on
specialty products. The expansion of processing capacity in Hungary
and the launch of bioethanol production in Austria are expected to
generate significant additional revenue growth.

In the Fruit segment, AGRANA will sustain the growth trend both in
fruit preparations and fruit juice concentrates, particularly as the
market offers superior growth opportunities in both businesses. In
the new 2008|09 financial year this will be accomplished mainly by
expanding existing capacity.

This press release and the current 2007|08 annual report are
available in English and German at www.agrana.com

end of announcement euro adhoc
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ots Originaltext: AGRANA Beteiligungs-AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

AGRANA Beteiligungs-AG

Mag. Maria Fally

Investor Relations

Tel.: +43-1-211 37-12905

e-mail:maria.fally@agrana.com

Mag. Ulrike Pichler

Public Relations

Tel.: +43-1-211 37-12084

e-mail:ulrike.pichler@agrana.com

Branche: Food
ISIN: AT0000603709
WKN: 779535
Index: WBI, ATX Prime
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