Unchangeed outlook before Covid-19 for 2020/2021
According to preliminary figures, Agrana-Beteiligungs-AG achieved an operating result (EBIT) of € 32.0 million for the first quarter of 2020/21 (1 March to 31 May 2020), slightly above the figure for Q1 2019/20 (€ 30.9 million). Preliminary consolidated revenues amounted to € 652.6 million in the first three months (Q1 2019|20: € 638.4 million). The 3.6 percent rise in the operating result is attributable to a much improved development of earnings in the Sugar segment during the period under review. The result in the Starch segment was lower due to ethanol prices and in the Fruit segment as a consequence of the weaker development of earnings for fruit juice concentrates.
On the basis of the forecasts prepared before the incidence of COVID-19, the the Group anticipated a significant increase in consolidated EBIT for the full year 2020/21. This guidance remains subject to the currently unquantifiable commercial and financial impacts, as well as the duration, of the COVID-19 pandemic. Further details relating to the development of business in the first quarter of 2020|21 and the various segments will be published by the Group as scheduled on 9 July 2020.