AGRANA Announces Subdued Outlook for 2024|25 Despite Solid 2023|24 EBIT; Maintains Dividend

AGRANA Beteiligungs-Aktiengesellschaft, in a recent announcement, reported a solid operating profit (EBIT) of €151.0 million for the financial year 2023|24, aligning with its projections of a substantial improvement from the previous year's EBIT of €88.3 million. The company also reported an increase in earnings per share to €1.04, compared to €0.25 in the prior year, with consolidated revenue rising to €3,786.9 million from €3,637.4 million.

Despite the positive performance in 2023|24, AGRANA has forecasted a challenging business environment for the upcoming 2024|25 fiscal year, expecting a significant drop in EBIT. This anticipated decrease is likely to start manifesting in the first quarter of 2024|25. Additionally, the company plans to maintain its dividend at €0.90 per share for the 2023|24 financial year, proposing this amount for approval at the upcoming 37th Annual General Meeting on July 5, 2024. This represents a dividend yield of 6.7% based on the closing share price as of February 29, 2024.

The full annual report for 2023|24 along with detailed financial results and further insights into the forecast for 2024|25 will be released on May 14, 2024.