| 2022|23 | 2021|22 | 2020|21 | 2019|20 | 2018|19 | 2017|18 | ||
|---|---|---|---|---|---|---|---|
Financial performance1 | |||||||
| Revenue | €m | 3,637.4 | 2,901.5 | 2,547.0 | 2,480.7 | 2,443.0 | 2,566.3 |
| EBITDA2 | €m | 277.1 | 206.7 | 191.2 | 183.1 | 147.7 | 254.2 |
| Operating profit before exceptional items and results of equity-accounted joint ventures | €m | 158.4 | 86.5 | 73.1 | 73.1 | 51.1 | 164.1 |
| Share of results of equity-accounted joint ventures | €m | 18.7 | 8.0 | 17.5 | 16.7 | 12.2 | 29.4 |
| Exceptional items | €m | (88.8) | (69.8) | (11.9) | (22.9) | 3.3 | (2.9) |
| Operating profit [EBIT] | €m | 88.3 | 24.7 | 78.7 | 66.9 | 66.6 | 190.6 |
| EBIT margin | % | 2.4 | 0.9 | 3.1 | 2.7 | 2.7 | 7.4 |
| Profit before tax | €m | 61.7 | 8.6 | 60.2 | 49.7 | 51.2 | 176.2 |
| Profit/(loss) for the period | €m | 24.7 | (12.2) | 55.0 | 31.2 | 30.4 | 142.6 |
| - Attributable to shareholders of the parent | €m | 15.8 | (12.6) | 59.8 | 28.1 | 25.4 | 140.1 |
| - Attributable to non-controlling interests | €m | 8.9 | 0.4 | (4.8) | 3.1 | 5.0 | 2.5 |
| Operating cash flow before changes in working capital | €m | 282.3 | 207.2 | 198.8 | 187.8 | 177.5 | 302.7 |
| Investment3 | €m | 102.9 | 82.4 | 72.3 | 149.7 | 183.8 | 140.9 |
| Return on sales4 | % | 1.7 | 0.3 | 2.4 | 2.0 | 2.1 | 6.9 |
| Return on capital employed5 | % | 8.0 | 4.7 | 4.1 | 4.0 | 2.9 | 9.7 |
Non-financial metrics | |||||||
| Number of employees6 | 8,730 | 8,691 | 8,847 | 9,342 | 9,230 | 8,678 | |
| Injury rate7 | 1.6 | 1.4 | 1.6 | 1.6 | 1.8 | 2.3 | |
| Energy consumption (Scope 1+2) | GJ million | 14.0 | 15.6 | 14.2 | 14.2 | 14.4 | 14.9 |
| Emissions (Scope 1+2) | Tonnes CO2 | 708,978 | 778,626 | 734,717 | 928,007 | 918,818 | 917,999 |
| Water consumption8 | m3 million | (0.4) | (1.3) | (0.9) | (1.5) | (1.8) | |
Share data at last day of February | |||||||
| Closing price9 | € | 17.00 | 16.54 | 17.60 | 17.56 | 17.40 | 24.78 |
| Earnings per share9 | € | 0.25 | (0.20) | 0.96 | 0.45 | 0.41 | 2.24 |
| Dividend per share9 | € | 0.9010 | 0.75 | 0.85 | 0.77 | 1.00 | 1.13 |
| Dividend yield11 | % | 5.310 | 4.5 | 4.8 | 4.4 | 5.7 | 4.5 |
| Dividend payout ratio | % | 360.010 | neg. | 88.5 | 171.1 | 243.9 | 50.2 |
| Price/earnings ratio | 68.0 | neg. | 18.3 | 39.0 | 42.4 | 11.0 | |
| Market capitalisation | €m | 1,062.3 | 1,033.6 | 1,099.8 | 1,097.3 | 1,087.3 | 1,548.2 |
| Number of shares | '000 | 62,489.0 | 62,489.0 | 62,489.0 | 62,489.0 | 62,489.0 | 15,622.2 |
Financial strength | |||||||
| Total assets | €m | 3,003.3 | 2,643.6 | 2,472.7 | 2,529.3 | 2,389.4 | 2,356.4 |
| Share capital | €m | 113.5 | 113.5 | 113.5 | 113.5 | 113.5 | 113.5 |
| Core non-current assets12 | €m | 1,018.7 | 1,117.9 | 1,207.5 | 1,285.2 | 1,229.8 | 1,138.5 |
| Equity | €m | 1,256.6 | 1,281.5 | 1,329.1 | 1,367.0 | 1,409.9 | 1,454.0 |
| Equity ratio | % | 41.8 | 48.5 | 53.8 | 54.0 | 59.0 | 61.7 |
| Net debt | €m | 684.9 | 532.0 | 443.5 | 464.0 | 322.2 | 232.5 |
| Gearing ratio13 | % | 54.5 | 41.5 | 33.4 | 33.9 | 22.9 | 16.0 |
1 Detailed information concerning the calculation methods of individual performance indicators can be found in the full version of the Annual Report.
2 EBITDA represents operating profit before exceptional items, results of equity-accounted joint ventures, and operating depreciation and amortisation.
3 Investment represents purchases of property, plant and equipment and intangible assets, excluding goodwill.
4 Profit before tax, divided by revenue.
5 Operating profit before exceptional items and results of equity-accounted joint ventures, divided by capital employed.
6 Average number of full-time equivalents in the reporting period.
7 See definition in chapter AGRANA's people.
8 Net water consumption is negative, as AGRANA discharges more water than it withdraws.
9 Values in the business years 2017|18 adjusted (reflecting the four-for-one stock split performed in July 2018).
10 Based on the dividend proposal to the Annual General Meeting.
11 Based on the closing share price at the balance sheet date.
12 Non-current assets excluding deferred tax assets and the item “other assets”.
13 Ratio of net debt to total equity.
Compare your desired key figures in recent years.
In the 2022|23 financial year, revenue of the AGRANA Group was € 3,637.4 million, up significantly from one year earlier, with the growth coming from a combination of adjusted prices in all segments and stable sales volumes in the Fruit and Sugar segments.
Operating profit (EBIT) in 2022|23 was € 88.3 million, a very significant increase from the year-ago level of € 24.7 million. The earnings growth was driven by a greatly improved pre-exceptionals operating profit and an increase in results of equity-accounted joint ventures. As in the prior year, the Group recognised impairment charges resulting from the war in Ukraine. These led to a net exceptional items expense of € 88.8 million (prior year: net expense of € 69.8 million). Details are presented in the Fruit segment report (Fruit). In the Fruit segment, impairment of goodwill and assets as a result of increased cost of capital due to the war in Ukraine led to negative EBIT of € 38.5 million (prior year: EBIT loss of € 15.8 million). The segment’s operating performance before exceptional items was stable thanks to an extraordinarily good showing in the fruit juice concentrate business. High ethanol prices in the first half of 2022|23 and a flourishing wheat gluten business were the main reasons for an improvement in the Starch segment’s EBIT to € 80.2 million. The Sugar segment returned to profit thanks to higher sales prices and margins, delivering EBIT operating profit of € 46.6 million (prior year: EBIT loss of € 31.1 million). Details on the share of results of equity-accounted joint ventures, which play a role in Starch and Sugar EBIT, can be found in the segment reports and the Notes.
In 2022|23, AGRANA invested a total of € 102.9 million, or € 20.5 million more than in the prior year. Purchases of property, plant and equipment and intangibles were thus below operating depreciation and amortisation, with the following distribution by business segment:
| Investment1 | 2022|23 | 2021|22 | Change | |
|---|---|---|---|---|
| % / pp | ||||
| Fruit segment | €000 | 37,679 | 37,382 | 08.% |
| Starch segment | €000 | 30,985 | 24,283 | 27.6% |
| Sugar segment | €000 | 34,252 | 20,702 | 62.5% |
| Group | €000 | 102,916 | 82,367 | 24.9% |
| Operating depreciation and amortisation | €000 | 118,710 | 120,171 | -1.2% |
| Investment coverage | % | 86,7 | 68.5 | 26.5% |
1 Investment represents purchases of property, plant and equipment and intangible assets, excluding goodwill.
Investment in all segments focused on energy efficiency and plant modernisation, and the Fruit and Starch segments also invested in capacity expansion. The key projects in the individual business segments are detailed in the segment reports.
To counter the uncertainty regarding a guaranteed natural gas supply in Europe, both in terms of volume and price, AGRANA decided at the beginning of the 2022|23 financial year to implement the use of extra light heating oil (ELHO) as an alternative fuel. A total of slightly more than € 8 million was invested in heating-oil burners and storage tanks at all Austrian sites of the Sugar and Starch segments. The required volumes of ELHO were contracted for. In combination with the purchased amounts of natural gas, the use of ELHO ensures the security of the energy supply, especially during the campaign, and also provides price stabilisation.