Agrana Beteiligungs-ag · VIE:AGR
Agrana Beteiligungs-ag — Q1-3 2024|25 Earnings Presentation
33 slides from Agrana Beteiligungs-ag's earnings presentation, Jan 14, 2025
Slide 1: Results for Q1-3 2024|25
THE NATURAL UPGRADE Results for Q1-3 2024|25 AGRANA Beteiligungs-AG, 14 January 2025 Presentation for investors and analysts AGRANA Report on Q1-3 2024|25: www.agrana.com/en/ir/publications A G R A N A | R e s u l t s fo r t h e f i r s t t h r e e q u a r t e r s o f 2 0 2 4 | 2 5 | 1 4 J a n u a r
Slide 2: Overview - Highlights
Q1-3 2024|25 Overview - Highlights ▪ Nine months into the financial year, business performance remains less than satisfactory ▪ As predicted, EBIT in the third quarter of 2024|25 was very significantly below the year- earlier value, and even slightly negative ▪ Economic activity in Europe is sluggis
Slide 3: Overview – Key figures
Q1-3 2024|25 Overview – Key figures Revenue: € 2,707.8 m EBITDA 1 : € 138.1 m -8.1% -44.7% (Q1-3 2023|24: € 2,947.8 m) (Q1-3 2023|24: € 249.9 m) Operating profit 2 : € 54.3 m EBIT: € 51.1 m -67.1% -65.8% (Q1-3 2023|24: € 164.8 m) (Q1-3 2023|24: € 149.4 m) Earnings per share: € 0.18 -84.5% (Q1-3 2023
Slide 4: Strategy update
“NEXT LEVEL” corporate strategy Strategy update ▪ NEXT LEVEL strategy was unanimously decided by the Supervisory Board on 12 Nov 2024 ▪ In light of unfavourable short- to medium-term prospects, new strategy takes on even greater significance in the drive to put AGRANA’s earnings back on track ▪ Core
Slide 5: Corporate Governance (1)
“NEXT LEVEL” corporate strategy Corporate Governance (1) ▪ A fundamental step in the transformation of the Group is the conversion of the current holding structure into a more streamlined and efficient strategic holding company ▪ A change already made at Group level as of 12 November is the eliminat
Slide 6: Corporate Governance (2)
“NEXT LEVEL” corporate strategy Corporate Governance (2) New remits of the Management Board members are as follows: ▪ Stephan Büttner, CEO: Strategy & Transformation incl. Mergers & Acquisitions (new) , Finance, Commercial Excellence (new), Information Technology, Corporate Communications incl. Corp
Slide 7: Raw materials and production
THE NATURAL UPGRADE Raw materials and production Segments Fruit, Starch and Sugar A G R A N A | R e s u l t s fo r t h e f i r s t t h r e e q u a r t e r s o f 2 0 2 4 | 2 5 | 1 4 J a n u a r y 2 0 2 5 7
Slide 8: Raw materials and production – Highlights
Q1 2024|25 Raw materials and production – Highlights Fruit segment: ▪ Juice concentrates: apple harvest is significantly below that of the previous year , at around -20% ▪ Fruit preparations: AGRANAs global demand for strawberries fully contracted; average purchase prices were moderately lower than
Slide 9: Commodity prices
Wheat & Corn (Euronext, Paris) Commodity prices 1 January 2006 – 10 January 2025 FY 2024|25 Wheat | Corn (EUR per tonne) Q3 Closing / 29 Nov 2024 Wheat 209.5 EUR/t Corn 203.8 EUR/t Whea t (Pa ris) 10 J an 2025: 233.0 E UR /t Corn (Pa ris) 10 J an 2025: 213.8 E UR /t A G R A N A | R e s u l t s fo r
Slide 10: ESG update
THE NATURAL UPGRADE ESG update Q1-3 2024|25 AGRANA Sustainability: www.agrana.com/en/sustainability A G R A N A | R e s u l t s fo r t h e f i r s t t h r e e q u a r t e r s o f 2 0 2 4 | 2 5 | 1 4 J a n u a r y 2 0 2 5 10
Slide 11: AGRANA ESG update
Q1-3 2024|25 AGRANA ESG update ▪ Important milestone in sustainability reporting in this financial year by implementing the European Sustainability Reporting Standards ( ESRS) ▪ Aim is not only to produce an ESRS-compliant sustainability report, but also to intensify the integration of sustainabilit
Slide 12: Investment
THE NATURAL UPGRADE Investment Q1-3 2024|25 A G R A N A | R e s u l t s fo r t h e f i r s t t h r e e q u a r t e r s o f 2 0 2 4 | 2 5 | 1 4 J a n u a r y 2 0 2 5 12
Slide 13: Investment overview
Most important projects in the group Investment overview Q1-3 2024|25 Group €m Fruit segment: 70.5 72.4 • Capacity expansion in Jacona, Mexico • Expansion of the food service area in Centerville, Tennessee, USA 25.7 28.8 • Expansion of solar power supply in China, France and South Africa Starch segm
Slide 14: Investment plan
Outlook for 2024|2025 Investment plan • Total investment across the three business Investment split 2024|25 segments in the 2024|25 financial year, at (total ~ € 120 million) approximately € 120 million • Is expected to be moderately below the 2023|24 25% value and only in line with the budgeted dep
Slide 15: Results by segment and market environment
THE NATURAL UPGRADE Results by segment and market environment Fruit, Starch and Sugar A G R A N A | R e s u l t s fo r t h e f i r s t t h r e e q u a r t e r s o f 2 0 2 4 | 2 5 | 1 4 J a n u a r y 2 0 2 5 15
Slide 16: EU vs sugar world market prices
Sugar price reporting EU vs sugar world market prices € Source: Sugar Market situation; European Commission, published on 19 December 2024 A G R A N A | R e s u l t s fo r t h e f i r s t t h r e e q u a r t e r s o f 2 0 2 4 | 2 5 | 1 4 J a n u a r y 2 0 2 5 16
Slide 17: Revenue by segment
Q1-3 2024|25 vs Q1-3 prior year Revenue by segment Fruit segment: Group ▪ Fruit preparations revenue rose for volume €m reasons; increase in fruit juice concentrate 2,947.8 revenue driven both by volume and prices 2,707.8 Starch segment: 1,178.9 ▪ Owing to the decline in raw material and energy 1,22
Slide 18: EBIT by segment
Q1-3 2024|25 vs Q1-3 prior year Fruit segment: EBIT by segment ▪ Fruit preparations: EBIT was very significantly above the year-ago level; improvement was attributable partly to a positive business performance and partly to a base effect, as €m Fruit Starch Sugar EBIT in Q3 p/y had been negatively i
Slide 19: Financials
THE NATURAL UPGRADE Financials Q1-3 2024|25 AGRANA Key Figures: www.agrana.com/en/ir/key- figures-agrana-group/key-figures A G R A N A | R e s u l t s fo r t h e f i r s t t h r e e q u a r t e r s o f 2 0 2 4 | 2 5 | 1 4 J a n u a r y 2 0 2 5 19
Slide 20: Consolidated income statement (condensed)
Consolidated income statement (condensed) Q1-3 Q1-3 Q3 Q3 €m 2024|25 2023|24 2024|25 2023|24 Revenue 2,707.8 2,947.8 846.1 988.3 EBITDA 1 138.1 249.9 30.5 86.2 Operating profit/(loss) before exceptional items and results of equity-accounted JV 54.3 164.8 (1.0) 52.1 Share of results of equity-account
Slide 21: Energy costs and mix
Energy costs and mix Energy mix of the group Group energy costs in FY 2023|24 €m 216.6 39.3 166.1 33.8 104.5 83.1 72.8 49.2 Q1-3 2023|24 Q1-3 2024|25 Fruit Starch Sugar A G R A N A | R e s u l t s fo r t h e f i r s t t h r e e q u a r t e r s o f 2 0 2 4 | 2 5 | 1 4 J a n u a r y 2 0 2 5 21
Slide 22: Net financial items | Tax Rate
Net financial items | Tax Rate Q1-3 Q1-3 €m 2024|25 2023|24 Change Net interest expense (21.9) (21.7) -0.9% Currency translation differences (2.7) (13.7) +80.3% Other financial items 0.3 (2.3) +113.0% Total (24.3) (37.7) +35.5% Q1-3 Q1-3 €m Change 2024|25 2023|24 Profit before tax 26.8 111.7 -76.0%
Slide 23: Consolidated cashflow statement (condensed)
Consolidated cashflow statement (condensed) Q1-3 Q1-3 €m 2024|25 2023|24 Change Operating cash flow before changes in working capital 165.8 275.9 -39.9% Changes in working capital 27.6 (137.1) +120.1% Total in interest paid/received and tax paid (42.1) (34.0) -23.9% Net cash from operating activitie
Slide 24: Consolidated balance sheet (condensed)
Consolidated balance sheet (condensed) €m 30 Nov 2024 29 Feb 2024 Change Non-current assets 1,025.9 1,031.2 -0.5% Current assets 1,782.3 1,858.2 -4.1% Total assets 2,808.2 2,889.4 -2.8% Total equity and liabilities 1,213.1 1,248.4 -2.8% Non-current liabilities 578.2 628.7 -8.0% Current liabilities 1
Slide 25: Financial outlook
THE NATURAL UPGRADE Financial outlook 2024|25
Slide 26: Outlook for 2024|25
AGRANA Group Outlook for 2024|25 EBIT 2024|25 Revenue 2024|25 ▪ At Group level for the full 2024|25 financial year, AGRANA expects a very significant reduction in EBIT ▪ Operating profit before exceptional items and results of equity -accounted joint ventures is expected to be in the range of
Slide 27: Outlook for 2024|25 – segments
AGRANA Segments Outlook for 2024|25 FRUIT STARCH Revenue Slight increase* Revenue Moderate reduction* EBIT Significant increase* EBIT Significant reduction* SUGAR Revenue Significant reduction* EBIT Very significant reduction* * The se qua ntita ti ve te rms a s used in this Outlook
Slide 28: Financial calendar
FY 2024|25 and FY 2025|26 Financial calendar 16-17 January 2025 10 July 2025 Capital Markets Day Record date for dividend 9 May 2025 14 July 2025 Results for full year 2024|25 (annual results press conference) Dividend payment date 24 June 2025 9 October 2025 Record date for participation in Annual
Slide 29: Appendix
THE NATURAL UPGRADE Appendix Results Q1-3 2024|25 A G R A N A | R e s u l t s fo r t h e f i r s t t h r e e q u a r t e r s o f 2 0 2 4 | 2 5 | 1 4 J a n u a r y 2 0 2 5 29
Slide 30: Ethanol and petrol prices
Ethanol and petrol prices FY 2024|25 1 January 2008 – 10 January 2025 Ethanol (Platts T2 spec.) | Fuel (PU-10PP-ARA) (EUR per m 3 ) Q1-3 2023|24 Q1-3 2024|25 Close Nov 2024 Ethanol avg. price: ~783 EUR/m3 ~682 EUR/m3 659.8 EUR/m3 A G R A N A | R e s u l t s fo r t h e f i r s t t h r e e q u a r t e
Slide 31: Sugar quotations
World market: white sugar & raw sugar Sugar quotations FY 2024|25 1 January 2006 – 10 January 2025 White sugar | Raw sugar (USD per tonne) W h i t e su ga r ( L o n do n # 5 ) 10 J an 2025: 503.5 USD/t = 488.6 E UR /t R a w su ga r (ICE/NY #11) 10 J an 2025: 423.7 USD/t = 411.1 E UR /t A G R A N A |
Slide 32: Disclaimer
Disclaimer This presenta tion is be ing provide d to you solely for your informa tion a nd ma y not be reproduced or further distributed to a n y other person or published, in whole or in pa rt, for a ny purpose. This presenta tio n comprises the written ma teria ls/slides for a presenta tion concer
Slide 33: Contacts
Contacts Investor Relations Mr. Hannes Haider Phone: +43-1-211 37-12905 Email: investor.relations@agrana.com AGRANA Beteiligungs-AG Friedrich-Wilhelm-Raiffeisen-Platz 1 1020 Vienna, Austria www.agrana.com/en AGRANA Investor Relations: www.agrana.com/en/ir A G R A N A | R e s u l t s fo r t h e f i r
AGRANA Beteiligungs-AG — Q1-3 2024|25 Earnings Presentation on 6ix