euro adhoc: AGRANA Beteiligungs-AG / quarterly or semiannual financial statement / AGRANA - Q1 2008|09: Revenue grows while profit decreases

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3-month report

10.07.2008

In the first quarter of 2008|09 AGRANA, the sugar, starch and fruit
group, achieved revenue growth of 10.3% to EUR 495.1 million (Q1
2007|08: EUR 449.0 million). The Fruit segment generated the largest
revenue share of 42.4%, followed by the Sugar segment with 34.5% and
the Starch segment with 23.2% of Group revenue. The rise in revenue
was driven in large part by expanded capacity and higher selling
prices in the Starch business. The initially expected revenue
decrease in the Sugar segment was more than offset by currency
translation gains in Central and Eastern Europe. As a result of lower
apple juice concentrate sales, the Fruit segment's revenue was off
3.3% from the year- ago level.

Group operating profit before exceptional items contracted by 36% in
the first quarter to EUR 18.0 million (Q1 2007|08: EUR 28.2 million).
This reduction resulted from the energy price increases, higher corn
prices and strong margin pressure in the Sugar and Starch segments.
The Fruit segment's operating profit was at the year-earlier level.

Overall, the first quarter was characterised by rising energy prices,
volatile raw material markets and in some cases a challenging
situation on the selling side. "In this tough current environment, we
remain true to our strategy of defending the market position in the
Sugar segment and growing organically in the Starch and Fruit
segments. We will deal with the difficult conditions on the cost side
through further process optimisation and savings in energy use. Our
capital investment this year will be below the level of
depreciation," said AGRANA Chief Executive Officer Johann Marihart.

AGRANA results for the first quarter of 2008|09 (ended 31 May 2008;
IFRS reporting)

First quarter First quarter
of 2008|09 of 2007|08
Revenue EURm 495.1 449.0
Operating profit before EURm 18.0 28.2
exceptional items
Exceptional items: EURm - 2.3 - 0.5
Bioethanol
Operating profit after EURm 15.7 27.6
exceptional items
Profit before tax EURm 11.6 24.4
Profit for the period EURm 7.4 18.2
Earnings per share EUR 0.56 1.26
Staff count 8,406 8,596

Sales revenue by segment
EURm First quarter First quarter
of 2008|09 of 2007|08
Sugar segment 180.1 171.0
Starch segment 123.4 77.5
Fruit segment 209.7 216.8
Inter-segment -18.1 -16.3
eliminations
AGRANA Group revenue 495.1 449.0

The Group's net exceptional items consisted of expenses of EUR 2.3
million (Q1 2007|08: EUR 0.5 million) for the expected start-up
losses at the Austrian bioethanol plant in Pischelsdorf. Net
financial items in the first quarter amounted to an expense of EUR
4.1 million (Q1 2007|08: EUR 3.2 million) as a result of the higher
net debt driven by investment and payment of EU levies. On balance,
the quarter's profit before tax amounted to EUR 11.6 million (Q1
2007|08: EUR 24.4 million). Profit for the period was EUR 7.4 million
(Q1 2007|08: EUR 18.2 million). Earnings per share were EUR 0.56
compared to EUR 1.26 one year earlier.

Capital expenditures in the first quarter of this financial year
totalled EUR 14.4 million (Q1 2007|08: EUR 45.1 million). The main
areas of investment were the completion of the capacity expansion at
Hungrana and the Pischelsdorf bioethanol plant in the Starch segment.
Following two years of exceptionally high capital spending, the
investment programme for the 2008|09 financial year is at a scale
below the rate of depreciation.

Sugar segment In the first three months of the 2008|09 financial
year, the Sugar segment delivered revenue growth of 5.3% to EUR 180.0
million (Q1 2007|08: EUR 171.0 million). Although sales volumes rose,
a decline in selling prices pulled operating profit lower to EUR 5.6
million before exceptional items, as compared to EUR 7.8 million in
the first quarter of the prior year.

Starch segment Revenue in the Starch segment grew by 59.2% in the
first quarter to EUR 123.4 million (Q1 2007|08: EUR 77.5 million).
The key reasons were rising bioethanol revenue in Austria and Hungary
and the inclusion of starch co-product sales in the Starch segment
results (co-products were previously reported by the Sugar segment).

Operating profit before exceptional items fell to EUR 4.2 million (Q1
2007|08: EUR 12.2 million) in the Starch segment. The key reasons
were significantly higher raw material costs and cyclically lower
sales quantities of commodity products.

Fruit segment Seasonal variation in the fruit preparations business
unit in Europe and the Americas, combined with sluggish sales of
apple juice concentrate in Central Europe, caused revenue in the
Fruit segment to ease to EUR 209.7 for the first quarter (Q1 2007|08:
EUR 216.8 million). Operating profit before exceptional items was
held steady at EUR 8.3 million (Q1 2007|08: EUR 8.2 million). Through
reorganisation of purchasing, costs were controlled by cushioning the
effect of rapid price increases in international procurement markets.

Outlook For the 2008|09 financial year, AGRANA continues to expect a
solid revenue trend with growth to more than EUR 2.1 billion. It
currently appears, however, that pre-exceptionals operating profit
for the full year 2008|09 will be about 45% to 50% lower than in the
prior year. Important reasons for this are unfavourable developments
in the markets for AGRANA's products, persistent volatility in raw
materials and the powerful rise in energy prices, all of which
squeeze profit margins. Countermeasures have been taken but will not
be able to make up for these adverse cost effects in the 2008|09
financial year.

In the Sugar segment, market conditions are expected to normalise
towards the end of this financial year as a result of the large
amounts of quota voluntarily surrendered. In the sugar deficit
markets which will then arise in Central and Eastern Europe, AGRANA
will expand its market share.

In the Starch segment, despite the commodity-prices-driven revenue
expansion and the growth in bioethanol, operating profit is likely to
ease, particularly in view of bioethanol start-up expenses in Austria
and the high energy costs.

The growth in the Fruit segment continues this financial year, with
revenue expected to exceed the prior year's result. Especially the
fruit juice concentrate activities in China are being further
expanded. However, the high raw material costs in the apple juice
concentrate operations will lead to a decrease in operating profit.

Overall, the expectation is that the market situation will normalise
in the 2009|10 financial year. AGRANA should then return to the
operating profit level of the 2007|08 financial year.

This press release and the report on the first quarter of 2008|09 are
available in German and English on the Internet 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
Börsen: Börse Berlin / Präsenzhandel
Börse Frankfurt / Präsenzhandel
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