AGRANA’s bioethanol and sugar business is better than last year | 01/14/21

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The listed fruit, starch and sugar group AGRANA does better business with bioethanol and sugar than in the previous year.

After the first three quarters of the 2020/21 financial year, this increased consolidated profit by a quarter (24.8 percent) to EUR 53.8 million. Sales increased by 4.6 percent to 1.97 billion euros. For the full year, AGRANA expects an operating profit (EBIT) at least at the previous year’s level and sales slightly above the previous year.

Even if there were higher sales and volumes in the sugar segment, there was a loss due to underutilized sugar factories, especially in Austria. Although fruit preparation produced better results than in the previous year, the fruit juice concentrate business was significantly weaker due to the poor apple harvest, so that EBIT in the fruit segment fell by ten percent overall, said CEO Johann Marihart.

After the price slump in the first lockdown, the starch segment benefited from a soaring price for ethanol in autumn with a peak in September; EBIT in the starch segment was slightly above the previous year’s figure at EUR 58.5 million over nine months. In the sugar division, the loss halved to EUR 15.5 million in the first three quarters.

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https://www.finanzen.at/nachrichten/aktien/agrana-geschaeft-mit-bioethanol-und-zucker-laeuft-besser-als-im-vorjahr-1029967134

AGRANAs bioethanol sugar business year

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