EANS-News: AGRANA results for first three quarters of 2012|13 (ended 30 November 2012) - Revenue growth continues, with earnings expectations confirmed for full year

--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
--------------------------------------------------------------------------------

quarterly report/9-month report

Wien (euro adhoc) - In the first nine months of the financial year,
AGRANA delivered significant revenue growth (of 22.4% to EUR 2,389.3
million) and a slight increase in pre-exceptionals operating profit
(up 2.8% to EUR 204.3 million). The revenue expansion was driven
above all by positive market developments and growing sales volumes
in the Sugar and Fruit segments. These two businesses also accounted
for the profit growth in the first three quarters. The Starch segment
operated in market conditions that were good in the first half of the
year and later cooled as expected, leading to an earnings decline for
the segment in the third quarter. The Sugar segment posted earnings
growth over the nine-month reporting period as a whole, but the
market setting became more challenging in the past few months, with
the result that segment earnings in the third quarter were lower than
in the year-earlier period. In the Fruit segment, profit rose
modestly compared to the first nine months of the prior year.

After a net financial items expense of EUR 21.1 million and a tax
expense of EUR 43.1 million (at a tax rate of 23.7%), the Group
recorded profit for the period of EUR 138.6 million (Q1-Q3 2011|12:
EUR 129.7 million). At 30 November 2012, net debt amounted to EUR
498.8 million (29 February 2012: EUR 469.2 million). The gearing
ratio of net debt to total equity was 41.1%, representing a downtick
from the level of 43.7% at the end of the prior year. The main
reasons for the increase in net debt were higher investment and the
financing of the seasonally higher working capital.

AGRANA results (1 March to 30 November 2012) _______________________
___________________________________________________ |
| Q1-Q3| Q1-Q3| Q3| Q3| |
| 2012|13| 2011|12| 2012|13| 2011|12| |_____________
________|_____________|_____________|____________|___________|

|Revenue |EUR 2,389.3 m|EUR 1,952.2 m|EUR 786.2 m |EUR 667.6 m|
|Operating profit | | | | |
|before exceptional | | | | |
|items |EUR 204.3 m|EUR 198.7 m|EUR 61.7 m|EUR 80.5 m|
|Operating margin | 8.6% | 10.2% | 7.8% | 12.1% |
|Exceptional items |EUR -1.4 m|EUR -1.4 m|EUR -0.4 m|EUR 0.0 m|
|Profit before tax |EUR 181.8 m|EUR 166.7 m|EUR 53.3 m|EUR 67.8 m|
|Profit for the period|EUR 138.6 m|EUR 129.7 m|EUR 39.1 m|EUR 52.0 m|
|Earnings per share |EUR 9.44 |EUR 8.90 |EUR 2.58 |EUR 3.55 |
|Purchases of property| | | | |
|,plant, equipment & | | | | |
|intangibles (1) |EUR 98.7 m|EUR 62.7 m|EUR 39.1 m|EUR 27.2 m|
|Average staff count | 8,555| 8,109| | |
|_____________________|_____________|_____________|____________|___________|
(1) Excluding goodwill

AGRANA Chief Executive Officer Johann Marihart comments: "As expected, the
market setting in the third quarter was challenging, characterised by higher raw
material costs and by price pressure. For the full year, we reiterate our
guidance despite a continuing difficult environment."

Sugar segment
____________________________________________________________________________
| |Q1-Q3 2012|13|Q1-Q3 2011|12| Q3 2012|13| Q3 2011|12|
|________________________|_____________|_____________|__________ |___________|
|Revenue |EUR 926.6 m|EUR 691.4 m|EUR 292.6 m|EUR 255.5 m|
|Operating profit | | | | |
|before exceptional items|EUR 105.3 m|EUR 94.3 m|EUR 34.1 m|EUR 43.7 m|
|Operating margin | 11.4% | 13.6% | 11.7% | 17.1% |
|________________________|_____________|_____________|___________|___________|

Sales volumes rose year-on-year in all business areas. Sales of non-quota sugar
into the sugar-using industry showed an especially positive trend. The increase
in raw material costs prevented a repetition of the year-ago-quarter's record
result, but the profit margin achieved was satisfactory.

Starch segment
____________________________________________________________________________
| |Q1-Q3 2012|13|Q1-Q3 2011|12| Q3 2012|13| Q3 2011|12|
|________________________|_____________|_____________|___________|___________|
|Revenue |EUR 603.7 m|EUR 587.5 m|EUR 208.0 m|EUR 199.8 m|
|Operating profit | | | | |
|before exceptional items|EUR 60.8 m|EUR 68.2 m|EUR 14.3 m|EUR 32.0 m|
|Operating margin | 10.1% | 11.6% | 6.9% | 16.0% |
|________________________|_____________|_____________|___________|___________|

The revenue growth arose primarily from generally higher sales
quantities and from better selling prices on some products. While
profitability in the first half of 2012|13 was still clearly above
that of a year earlier, the increase in raw material costs led to a
significant decline in Starch segment operating profit in the third
quarter.

Fruit segment ______________________________________________________
_____________________ | |Q1-Q3 2012|13|Q1-Q3
2011|12| Q3 2012|13| Q3 2011|12| |________________________|__________
___|_____________|___________|___________|

|Revenue |EUR 859.1 m|EUR 673.4 m|EUR 285.7 m|EUR 212.3 m|
|Operating profit | | | | |
|before exceptional items|EUR 38.2 m|EUR 36.2 m|EUR 13.4 m|EUR 4.8 m|
|Operating margin | 4.4% | 5.4% | 4.7% | 2.3% |

|________________________|_____________|_____________|___________|___
________|

The strong revenue growth in the Fruit segment was fuelled largely by
volume gains relative to the prior year. In the fruit preparations
division, all regions outside the EU registered growth in sales
quantities, with a particularly gratifying trend witnessed in the
USA. The Fruit segment's profit increase was contributed mainly by
the fruit juice concentrates division, which posted a strong Q3
result. After the merger with Ybbstaler Fruit Austria GmbH, the first
six months of the company's consolidation in the Group's accounts
already saw a small positive earnings effect. Going forward,
additional synergies are expected to accrue from the merging of
processes and structures in the new organisation.

Outlook

For the full year 2012|13, AGRANA's unchanged expectation is that
Group revenue will increase to more than EUR 3 billion (2011|12: EUR
2.6 billion) on overall slight volume growth and continuing high
price levels. For the year as a whole, AGRANA should be able to reach
a pre-exceptionals operating profit approximately in line with that
of last year.

In the 2012|13 financial year, total investment in all three segments
will expand to about EUR 145 million and thus provide sound support
for the Group's long-term growth trajectory and earnings.

This press release is also available on the AGRANA 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
--------------------------------------------------------------------------------

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