EBIT of € 31.2 million in third quarter 2021/22 higher than expected

Group EBIT target for full year unchanged

At € 31.2 million (Q3 2020|21: € 28.5 million), the consolidated EBIT of AGRANA Beteiligungs-AG in the third quarter of 2021/22 (1 September to 30 November 2021) was higher than expected. The key driver was considerably higher revenues in the Starch segment due to an all-time high of ethanol prices.

As a result, in the first three quarters of 2021/22 (1 March to 30 November 2021), AGRANA generated earnings before interest and tax (EBIT) of € 76.0 million (Q1-3 2020|21: € 84.3 million). Group revenue amounted to € 2,169.6 million (Q1-3 2020|21: € 1,965.3 million).

The guidance for the full financial year 2021/22, according to which Group EBIT will increase significantly, remains unchanged; the forecast is for earnings before interest and tax to rise by at least 10 %.

Due to the extreme volatility in terms of commodity and energy prices as well as the COVID-19 situation again intensifying – the fourth wave in combination with the appearance of the Omikron variant – the forecast for the full year is characterised by a very high degree of uncertainty.

Further details relating to the development of business in the first three quarters of 2021/22 and more information about the various segments will be published by the Group as scheduled on 13 January 2022.