AGRANA-Group: Operating profit in 2022/23 financial year significantly higher than expected

Provisional, unaudited operating profit of EUR 158 million

The preparation of the consolidated financial statements of the AGRANA Group for the period to 28 February 2023 reveals a provisional, unaudited operating profit of EUR 158 million, which is therefore significantly higher than the Company’s own guidance (“up to + 50 % compared to prior year”).

The provisional consolidated earnings before interest and tax (EBIT)^* for the 2022/23 financial year (1 March 2022 to 28 February 2023) amount to EUR 88 million (2021/22: € 24.7 million). EBIT takes into account impairment charges taken against assets and goodwill in the amount of EUR 91 million which were recognised in the half-year financial statements (prior year: net exceptional items expense of EUR 70 million). Group revenue will amount to EUR 3.6 billion (2021/22: EUR 2.9 billion).

AGRANA’s Management Board currently forecasts a very significant improvement in EBIT during the ongoing 2023/24 financial year (more than + 50 %). The assumption is that consolidated revenue will increase significantly (by more than + 10 % and up to + 50 %). Key uncertainties however remain the war in Ukraine and its consequences.

The 2022|23 annual results and the 2022/23 annual report will be published as scheduled on 17 May 2023.

^*After exceptional items and share of results of equity-accounted joint ventures