Agrana back in profit

2023-05-17 06:39:04

Write-downs on the Russia and Ukraine business had brought the agricultural group a loss of 12.2 million euros in 2021/22. “We managed the turnaround in the sugar segment, in the starch segment high ethanol prices in the first half of 2022/23 and good business with wheat gluten were the main reasons for the solid earnings development,” commented Agrana boss Markus Mühleisen on the current business figures in a broadcast on Wednesday . The fruit division is pleased that the Agrana employees in the Ukraine have so far “remained unharmed by the acts of war”.

After returning to profitability, the dividend to shareholders is to be increased. The Agrana board of directors will propose the payment of a dividend of EUR 0.90 per share at this year’s annual general meeting. The dividend for 2021/22 was EUR 0.75 per share.

For the 2023/24 financial year, the Agrana board of directors expects “a very significant increase” in operating profit (EBIT) and a “significant increase” in sales. The greatest uncertainty factor for the forecast remains the war in Ukraine and its consequences. “Because of the unforeseeable developments of the war, extraordinary cost increases and falls in demand, among other things, cannot be ruled out,” the company statement said.