After a very strong first quarter, AGRANA forecasts a significant improvement in earnings for the 2017|18 financial year
In the first quarter of 2017|18 (1 March to 31 May 2017), AGRANA improved its earnings before interest and tax (EBIT) from € 47.0 million in Q1 2016|17 to € 69.8 million. Revenues during the three months also rose slightly, from € 665.5 million to € 684.2 million.
Both the extremely favourable development of ethanol prices in the Starch segment, in particular, as well as better operating results in the Sugar segment contributed to the rise in Group EBIT. Earnings in the Fruit segment were also up on the prior year.
Despite the challenging market environment anticipated in the Sugar segment in the second half, AGRANA has raised its guidance for EBIT in the financial year 2017|18 from a ‘moderate’ (+5 % to +10 %) to a ‘significant’ (> +10 %) increase due to the improved outlook in the Starch segment.
The publication of the report for the first quarter 2017|18, including details of the segment reporting and the outlook for 2017|18, will take place as scheduled on 13 July 2017.