Substantial decline in EBIT in the first quarter of 2018|19 Ad-HocDate: 19.06.2018
Group guidance for the full year confirmed
In the first quarter of 2018|19 (1 March to 31 May 2018), AGRANA’s operating profit (EBIT) amounted to € 37.0 million (Q1 2017|18: € 69.8 million). The significant decline was due to lower selling prices for sugar and isoglucose as well as lower ethanol prices, thereby resulting in a decline in revenues to € 630.3 million (Q1 2017|18: € 684.2 million).
The guidance for the full 2018|19 financial year, indicating a significant decline in consolidated EBIT, is confirmed. Due to falling selling prices for bioethanol and starch-based saccharification products, a significant (rather than a moderate) decline in earnings is now anticipated in the Starch segment.
Further details on the course of business in the first quarter of 2018|19, along with more detailed information on the individual segments, will be published by the Group as planned on 12 July 2018.