AGRANA (AGR) Q3 24/25 earnings summary

Executive summary

• Revenue for Q1–Q3 2024/25 declined 8.1% year-over-year to €2,707.8 million, with EBIT down 65.8% to €51.1 million and profit for the period falling 81.4% to €14.5 million.

• Business performance remained weak, with EBIT slightly negative in Q3 amid a challenging European economic environment, including recession in Austria and Germany, and high volatility in commodity and energy markets.

• The Fruit segment delivered solid results despite the difficult macroeconomic backdrop, while the Sugar segment faced the most significant challenges and posted a significant loss.

• The "NEXT LEVEL" strategy was approved to restructure the group into two main business areas, streamline management, and target €80–100 million in annual savings by FY 2027/28.

Financial highlights

• Revenue for the first three quarters was €2,707.8 million, down 8.1% year-over-year.

• EBIT fell 65.8% to €51.1 million; EBITDA dropped 44.7% to €138.1 million.

• Earnings per share were €0.18; profit for the period was €14.5 million.

• Free cash flow improved to €87.8 million; equity ratio stable at 43.2%; net debt slightly down to €612.2 million; gearing ratio at 50.5%.

Outlook and guidance

• Full-year EBIT is expected between €55 million and €75 million, confirming previous guidance.

• Group revenue is projected to decrease moderately year-over-year.

• By segment: Fruit is expected to see a slight revenue increase and significant EBIT growth; Starch to see moderate revenue and significant EBIT reduction; Sugar to face significant declines in both revenue and EBIT.