EANS-News: AGRANA Beteiligungs-AG / AGRANA results for first quarter of 2012|13 (ended 31 May 2012) - Sound business performance is sustained in first three months

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3-month report

Wien (euro adhoc) - In the first quarter of the new financial year,
AGRANA continued the prior year's upward trend. Group revenue grew by
26.4% from the prior year's first quarter, to EUR 774.6 million.
While revenue in the Starch segment was approximately in line with
one year earlier, revenue in the Sugar and Fruit segments rose on
volume growth. The strong pre-exceptionals operating profit, at EUR
70.9 million, was 15.1% above that of the comparative quarter, an
increase driven by the Sugar and Starch segments. In the Fruit
segment, although operating profit was less than in the strong first
quarter of financial 2011|12, the margin situation already improved
sequentially compared to the fourth quarter.

Net financial items amounted to a greater net expense, of EUR 9.7
million, than in the year-ago quarter (which saw a net expense of EUR
6.2 million), as a result primarily of non-cash foreign exchange
losses on Eastern European currencies. After an income tax expense of
EUR 13.8 million (corresponding to a tax rate of 22.5%), the Group's
profit for the period expanded to EUR 47.5 million. Earnings per
share attributable to AGRANA shareholders grew from EUR 2.93 to EUR
3.32.

Net debt as of 31 May 2012 stood at EUR 475.8 million, up slightly by
EUR 6.6 million from the 2011|12 financial year-end level of EUR
469.2 million. The gearing ratio of 42.8% at the end of the financial
quarter represented a further small improvement from the 29 February
2012 level of 43.7%. The equity ratio improved from 45.4% to 48.7%.

AGRANA - IFRS results

Q1 2012|13 Q1 2011|12
Revenue EUR 774.6 m EUR 612.9 m
Operating profit
before exceptional items EUR 70.9 m EUR 61.6 m
Operating margin 9.2% 10.1%
Profit before tax EUR 61.3 m EUR 55.4 m
Profit for the period EUR 47.5 m EUR 43.1 m
Earnings per share EUR 3.32 EUR 2.93
Purchases of property, plant
and equipment and intangibles (1) EUR 22.7 m EUR 14.2 m
Staff count 8,483 8,210
(1) Excluding goodwill

AGRANA Chief Executive Officer Johann Marihart says: "In the results
of the first quarter, we were able to continue the robust performance
of the prior financial year, thus demonstrating the sustainable
nature of our strategy. For the full year 2012|13 we nonetheless
leave our guidance unchanged and expect earnings slightly below the
exceptionally good prior-year result."

Sugar segment

Q1 2012|13 Q1 2011|12
Revenue EUR 306.8 m EUR 182.0 m
Operating profit
before exceptional items EUR 34.6 m EUR 21.6 m
Operating margin 11.3% 11.9%

Revenue in the Sugar segment was pushed up further in the first
quarter of 2012|13. Relative to the prior year's first quarter,
volume gains were achieved in almost all areas. Sales to the
sugar-using industry and to resellers were especially strong.
Contributing to the robust earnings trend were not just the sugar
prices but good co-product revenues and the increase in sugar volumes
sold.

Starch segment

Q1 2012|13 Q1 2011|12
Revenue EUR 192.4 m EUR 193.3 m
Operating profit
before exceptional items EUR 24.0 m EUR 22.5 m
Operating margin 12.5% 11.6%

Revenue in the first quarter was approximately in line with the comparative
prior-year quarter. Higher selling prices for saccharification products and
greater sales volumes of saccharification, starch and co-products were
juxtaposed with lower selling prices for bioethanol, starch and co-products and
slightly reduced bioethanol volumes. The rise in operating profit translated to
an increase in operating margin to 12.5%.

Fruit segment
Q1 2012|13 Q1 2011|12
Revenue EUR 275.4 m EUR 237.5 m
Operating profit
before exceptional items EUR 12.3 m EUR 17.6 m
Operating margin 4.5% 7.4%

Fruit segment revenue increased significantly in the first quarter.
In most fruit preparations markets except for Central and Western
Europe, the year-earlier sales quantities were matched or even
surpassed. The decrease in the segment's operating profit was
attributable primarily to temporary shifts in the fruit juice
concentrates business. The effects of these shifts should, however,
be recouped in the further course of the year.

Outlook

For the full year 2012|13, AGRANA expects Group revenue to increase
on overall slight volume growth and high prices. Given the likely
substantial volatility in raw material and selling prices in the
coming quarters, AGRANA reiterates the existing guidance for the full
year, which calls for earnings slightly below the exceptionally good
result of the prior year.

This press release is also available on AGRANA's website at
www.agrana.com.

Further inquiry note:
AGRANA Beteiligungs-AG
Mag.(FH) Hannes Haider
Investor Relations
Tel.: +43-1-211 37-12905
e-mail:hannes.haider@agrana.com

Mag.(FH) Christine Göller
Public Relations
Tel.: +43-1-211 37-12084
e-mail: christine.goeller@agrana.com

end of announcement euro adhoc
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company: AGRANA Beteiligungs-AG
Donau-City-Straße 9
A-1220 Wien
phone: +43-1-21137-0
FAX: +43-1-21137-12045
mail: info.ab@agrana.com
WWW: www.agrana.com
sector: Food
ISIN: AT0000603709
indexes: WBI, ATX Prime
stockmarkets: Präsenzhandel: Berlin, Stuttgart, Frankfurt, official market: Wien
language: English