euro adhoc: AGRANA Beteiligungs-AG / quarterly or semiannual financial statement / AGRANA - Revenue up 3% - operating profit of EUR 87.4 million in the first three quarters of 2007|08 Third-quarter operating profit (after exceptionals) at last year's level (E)

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15.01.2008

In the first three quarters of 2007|08 AGRANA, the sugar, starch and fruit
group, raised its revenue by about 3% to EUR 1,418.7 million (Q1-Q3 2006|07:
EUR 1,380.4 million). While the Starch and Fruit segments generated
significant revenue growth of 25% and 10% respectively, Sugar revenue declined
by 9% amid the difficult conditions in the European sugar market. Operating
profit before exceptional items for the first nine months was EUR 87.4 million,
down 2.6% from EUR 89.7 million in the first three quarters 2006|07. In
the third quarter, operating profit after exceptional items (restructuring),
at EUR 30.6 million, was held steady compared to the prior-year level of EUR
30.5 million.

"The reform-driven decrease in sugar revenue was successfully offset in the
first nine months by AGRANA's other two revenue streams," says AGRANA Chief
Executive Officer Johann Marihart in commenting on the business performance.
"However, the 2007 calendar year brought price increases in raw material
markets on a scale that poses a considerable challenge to all segments of our
business. In this environment, the steady third-quarter operating profit after
exceptional items is in our view quite a satisfactory result," adds Marihart.

Third quarter of 2007|08
AGRANA IFRS results (quarter ended November 30, 2007)
Third quarter Third quarter
2007|08 2006|07
Revenue EURm 485.3 457.3
Operating profit EURm 33.0 30.5
Bioethanol exceptional EURm (2.4) -
items
Operating profit after EURm 30.6 30.5
exceptional items
Profit before tax EURm 17.7 28.9
Profit for the period EURm 13.1 22.7
Earnings per share EUR 0.94 1.53

The third quarter was positive across the board with revenue growth of 6% to
EUR 485.3 million (Q3 2006|07: EUR 457.3 million). Operating profit after
exceptional items (restructuring) was EUR 30.6 million, holding the prior-year
level of EUR 30.5 million. However, owing to weaker Eastern European
currencies, the Group's profit of the third quarter decreased to EUR 13.1
million (Q3 2006|07: EUR 22.7 million).

First nine months of 2007|08
Group revenue in the first three quarters of 2007|08 was EUR 1,418.7 million
(Q1-Q3 2006|07: EUR 1,380.4 million). Net financial items were EUR -15.7 million
(Q1-Q3 2006|07: EUR -11.9 million) as a result of increased financing costs
for the extensive capital investment and the higher interest rates. The
resulting profit before tax in the first three quarters was E 67.7
million (Q1-Q3 2006|07: EUR 77.8 million). After taxation at an effective rate
of 26.6% (Q1-Q3 2006|07: 28.0%), profit for the period was EUR 49.7 million
(Q1-Q3 2006|07: EUR 56.0 million).

AGRANA recorded capital expenditure of EUR 157.2 million during the first
nine months of 2007|08 (Q1-Q3 2006|07: EUR 86.2 million). The main areas of
investment were the starch and bioethanol activities. Capital expenditure in
the Sugar segment related primarily to the new raw sugar refinery in Brcko,
Serbia.

AGRANA IFRS results (three quarters ended November 30, 2007)
First three quarters First three quarters
of 2007|08 of 2006|07
Revenue EURm 1,418.7 1,380.4
Operating profit EURm 87.4 89.7
Bioethanol exceptional EURm (4.0) -
items
Operating profit after EURm 83.4 89.7
exceptional items
Profit before tax EURm 67.7 77.8
Profit for the period EURm 49.7 56.0
Earnings per share EUR 3.49 3.76
Investment: purchases 157.2 86.2
of property, plant and EURm
equipment and
intangible assets[1]
Staff count 8,595 8,383

Revenue by segment
in EURm First three quarters First three quarters
of 2007|08 of 2006|07
Sugar segment 595.3 652.8
Starch segment 231.9 186.1
Fruit segment 644.5 583.6
Inter-segment
eliminations (53.1) (42.0)
AGRANA Group revenue 1,418.7 1,380.4

Sugar segment
The absence of C-sugar exports and the lower quota sugar sales due to the
preventive quota withdrawal were responsible for the revenue decrease of 9% in
the Sugar segment during the first three quarters to EUR 595.3 million
(Q1-Q3 2006|07: EUR 652.8 million). As a result of the lower sales quantities
and the payments into the EU restructuring fund, the segment reported an
operating profit of EUR 28.9 million (Q1-Q3 2006|07: EUR 38.2 million)

Starch segment
Revenue in the Starch segment was EUR 231.9 million in the first three
quarters, 25% higher than the prior-year comparative level of EUR 186.1
million. This growth was driven by an increase in sales of saccharification
products and bioethanol as well as higher market prices. Segment operating
profit was EUR 27.9 million compared to EUR 22.4 million in the first three
quarters of 2006|07. The profit expansion resulted from the volume growth
and a higher component of value added.

Net exceptional items in the starch segment - an expense of EUR 4.0 million
- represented the non-capitalisable costs of the construction of the
bioethanol plant in Pischelsdorf, Austria.

Fruit segment
Revenue of EUR 644.5 million was posted in the Fruit segment in the first
three quarters (Q1-Q3 2006|07: EUR 583.6 million). Operating profit was EUR
30.6 million (Q1-Q3 2006|07: EUR 29.1 million). Weather-induced crop failures
in Europe led to a pronounced undersupply of raw materials and to volatility
in the market. However, thanks to expanded global procurement, AGRANA was
able to cover its raw material requirements. The price increases required
to absorb the sharp rise in raw material costs are being gradually
implemented.

Outlook
Raw-material-driven price increases for products in the Starch and Fruit
segment will contrast with revenue reductions in Sugar. The restructuring
measures made necessary by the new EU sugar regime continue in the fourth
quarter. Group revenue for the financial year 2007|08 is therefore expected to
be just under EUR 1,900 million (2006|07: EUR 1,915.8 million based on 14 months
of Fruit results).

For the 2007|08 financial year AGRANA plans to approach last year's operating
profit before exceptional items. Expenses for the bioethanol operations and
closure costs for the Hungarian sugar factory in Petöhaza and the Czech fruit
processing facility in Kaplice will, however, cause operating profit after
exceptional items (restructuring) to ease slightly from the prior year.

This press release and the report on the first three quarters of 2007|08 are
available in German and English on the Internet at www.agrana.com.

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1 Excluding any goodwill

Further inquiry note:
AGRANA Beteiligungs-AG
Mag. Maria Fally
Investor Relations
Tel.: +43-1-211 37-12905
e-mail:[email protected]

Mag. Ulrike Pichler
Public Relations
Tel.: +43-1-211 37-12084
e-mail:[email protected]

end of announcement euro adhoc
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emitter: AGRANA Beteiligungs-AG
Donau-City-Straße 9
A-1220 Wien
phone: +43-1-21137-0
FAX: +43-1-21137-12045
mail: [email protected]
WWW: www.agrana.com
sector: Food
ISIN: AT0000603709
indexes: WBI, ATX Prime
stockmarkets: Präsenzhandel: Börse Berlin, Börse Frankfurt, Börse Stuttgart,
official market: Wiener Börse AG
language: English

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