| 2023|24 | 2022|23 | 2021|22 | 2020|21 | 2019|20 | 2018|19 | ||
|---|---|---|---|---|---|---|---|
Financial performance1 | |||||||
| Revenue | €m | 3,786.9 | 3,637.4 | 2,901.5 | 2,547.0 | 2,480.7 | 2,443.0 |
| EBITDA2 | €m | 291.1 | 277.1 | 206.7 | 191.2 | 183.1 | 147.7 |
| Operating profit before exceptional items and results of equity-accounted joint ventures | €m | 176.7 | 158.4 | 86.5 | 73.1 | 73.1 | 51.1 |
| Share of results of equity-accounted joint ventures | €m | 1.4 | 18.7 | 8.0 | 17.5 | 16.7 | 12.2 |
| Exceptional items | €m | (27.0) | (88.8) | (69.8) | (11.9) | (22.9) | 3.3 |
| Operating profit [EBIT] | €m | 151.0 | 88.3 | 24.7 | 78.7 | 66.9 | 66.6 |
| EBIT margin | % | 4.0 | 2.4 | 0.9 | 3.1 | 2.7 | 2.7 |
| Profit before tax | €m | 97.7 | 61.7 | 8.6 | 60.2 | 49.7 | 51.2 |
| Profit/(loss) for the period | €m | 69.4 | 24.7 | (12.2) | 55.0 | 31.2 | 30.4 |
| - Attributable to shareholders of the parent | €m | 64.9 | 15.8 | (12.6) | 59.8 | 28.1 | 25.4 |
| - Attributable to non-controlling interests | €m | 4.5 | 8.9 | 0.4 | (4.9) | 3.1 | 5.0 |
| Operating cash flow before changes in working capital | €m | 316.3 | 282.3 | 207.2 | 198.8 | 187.8 | 177.5 |
| Investment3 | €m | 127.3 | 102.9 | 82.4 | 72.3 | 149.7 | 183.8 |
| Return on sales4 | % | 2.6 | 1.7 | 0.3 | 2.4 | 2.0 | 2.1 |
| Return on capital employed5 | % | 9.1 | 8.0 | 4.7 | 4.1 | 4.0 | 2.9 |
Non-financial metrics | |||||||
| Number of employees6 | 8,876 | 8,730 | 8,691 | 8,847 | 9,342 | 9,230 | |
| Injury rate7 | 1.3 | 1.6 | 1.4 | 1.6 | 1.6 | 1.8 | |
| Energy consumption (Scope 1+2) | Million GJ | 14.5 | 14.0 | 15.6 | 14.2 | 14.2 | 14.4 |
| Emissions (Scope 1+2) | Tonnes CO2 | 737,042 | 708,978 | 778,626 | 733,853 | 928,007 | 918,818 |
| Emissions (Scope 3) | Million Tonnes CO2e | 4.1 | 4.2 | 4.5 | 4.0 | 4.2 | 4.2 |
| Water consumption8 | m9 million | (1.0) | (0.4) | (0.8) | (1.3) | (0.9) | (1.5) |
Share data at last day of February | |||||||
| Closing price9 | € | 13.35 | 17.00 | 16.54 | 17.60 | 17.56 | 17.40 |
| Earnings/(loss) per share | € | 1.04 | 0.25 | (0.20) | 0.96 | 0.45 | 0.41 |
| Dividend per share | € | 0.9010 | 0.90 | 0.75 | 0.85 | 0.77 | 1.00 |
| Dividend yield11 | % | 6.710 | 5.3 | 4.5 | 4.8 | 4.4 | 5.7 |
| Dividend payout ratio | % | 86.510 | 360.0 | Neg. | 88.5 | 171.1 | 243.9 |
| Price/earnings ratio | 12.8 | 68.0 | Neg. | 18.3 | 39.0 | 42.4 | |
| Market capitalisation | €m | 834.2 | 1,062.3 | 1,033.6 | 1,099.8 | 1,097.3 | 1,087.3 |
| Number of shares | '000 | 62,489.0 | 62,489.0 | 62,489.0 | 62,489.0 | 62,489.0 | 62,489.0 |
Financial strength | |||||||
| Total assets | €m | 2,889.4 | 3,003.1 | 2,643.6 | 2,472.7 | 2,529.3 | 2,389.4 |
| Share capital | €m | 113.5 | 113.5 | 113.5 | 113.5 | 113.5 | 113.5 |
| Core non-current assets12 | €m | 997.5 | 1,018.7 | 1,117.9 | 1,207.5 | 1,285.2 | 1,229.8 |
| Equity | €m | 1,248.4 | 1,256.6 | 1,281.5 | 1,329.1 | 1,367.0 | 1,409.9 |
| Equity ratio | % | 43.2 | 41.8 | 48.5 | 53.8 | 54.0 | 59.0 |
| Net debt | €m | 636.1 | 684.9 | 532.0 | 443.5 | 464.0 | 322.2 |
| Gearing ratio13 | % | 51.0 | 54.5 | 41.5 | 33.4 | 33.9 | 22.9 |
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 The value shown for the 2019|20 financial year was calculated based on comprehensive bottom-up data collection. All other values were derived by adjusting this base-year value in proportion to the change in the processing quantities of agricultural raw materials over time (except for the fruit preparations business).
9 Net water consumption is negative, as AGRANA discharges more water than it withdraws.
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 2023|24 financial year, revenue of the AGRANA Group was € 3,786.9 million, up slightly from the same period one year earlier. The increase came from adjusted prices in the Fruit and Sugar segments, with sales volumes in the whole Group slightly lower than in the year before.
Operating profit (EBIT) in 2023|24 was € 151.0 million, a very significant increase from the year-ago level of € 88.3 million. The rise in EBIT was driven not just by the improved operating performance but also by a base-year effect – the lower baseline created by a net exceptional items expense of € 88.8 million in the prior year, which was primarily for impairment losses on goodwill in the Fruit segment. Details on this are presented in the Fruit segment report and the Notes in the full version of the annual report. In the Fruit segment, the EBIT result turned to a profit of € 60.2 million (prior year: loss of € 38.5 million), lifted both by the non-recurrence of the previous year’s impairment and by a better operating performance in the fruit preparations business as well as in the fruit juice concentrate activities. Meanwhile, a markedly weaker ethanol result than in the year-earlier period was a key reason for the significant reduction in Starch segment EBIT to € 50.4 million (prior year: € 80.2 million). Operating profit in the Sugar segment decreased to € 40.4 million (prior year: € 46.6 million), due mostly to a smaller profit contribution by the AGRANA-Studen joint venture than one year earlier. 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 respective segment reports and the Notes.
In 2023|24, AGRANA invested a total of € 127.3 million, or € 24.4 million more than in the prior year. Purchases of property, plant and equipment and intangibles were thus above operating depreciation and amortisation, with the following distribution by business segment:
| Investment1 | 2023|24 | 2023|24 | Change | |
|---|---|---|---|---|
| % / pp | ||||
| Fruit segment | €000 | 50,822 | 37,679 | 34.9 % |
| Starch segment | €000 | 42,110 | 30,985 | 35.9 % |
| Sugar segment | €000 | 34,336 | 34,252 | 0.2 % |
| Group | €000 | 127,268 | 102,916 | 23.7 % |
| Operating depreciation and amortisation | €000 | 114,416 | 118,710 | -3.6 % |
| Investment coverage | % | 111.2 | 86.7 | 28.3 % |
1 Investment represents purchases of property, plant and equipment and intangible assets, excluding goodwill.
The main focus of capital expenditures in all segments was on energy efficiency projects and product quality improvement. The key projects in the individual business segments are detailed in the segment reports.