Institutional Sign In

Go

Agrana Beteiligungs

Agrana's Cash & Cash Equivalents rose 42.7% yoy to EUR 194 mil in 2014

By Helgi Library - April 2, 2020

Agrana Beteiligungs's total assets reached EUR 2,407 mil at the end of 2014, up 0.614% compared to the previous year. ...

Profit Statement 2012 2013 2014
Sales EUR mil 3,066 2,842 2,494
Gross Profit EUR mil 832 801 714
EBITDA EUR mil 299 247 202
EBIT EUR mil 218 167 122
Financing Cost EUR mil 27.7 30.2 5.24
Pre-Tax Profit EUR mil 190 137 117
Net Profit EUR mil 149 105 80.9
Dividends EUR mil 51.1 52.1 55.4
Balance Sheet 2012 2013 2014
Total Assets EUR mil 2,578 2,392 2,407
Non-Current Assets EUR mil 1,098 1,104 1,137
Current Assets EUR mil 1,480 136 194
Working Capital EUR mil 853 717 654
Shareholders' Equity EUR mil 1,212 1,191 1,194
Liabilities EUR mil 1,366 1,201 1,212
Total Debt EUR mil 735 686 701
Net Debt EUR mil 590 550 507
Ratios 2012 2013 2014
ROE % 13.1 8.75 6.78
ROCE % 8.07 5.57 4.48
Gross Margin % 27.1 28.2 28.6
EBITDA Margin % 9.76 8.68 8.09
EBIT Margin % 7.10 5.87 4.88
Net Margin % 4.87 3.70 3.24
Net Debt/EBITDA 1.97 2.23 2.51
Net Debt/Equity 0.487 0.462 0.425
Cost of Financing % 3.93 4.25 0.756
Valuation 2012 2013 2014
Market Capitalisation USD mil 1,573 1,717 1,384
Enterprise Value (EV) USD mil 2,352 2,475 1,998
Number Of Shares mil 14.2 14.2 14.2
Share Price EUR 84.0 87.7 80.5
EV/EBITDA 6.12 7.56 7.68
EV/Sales 0.598 0.656 0.622
Price/Earnings (P/E) 7.98 11.8 14.1
Price/Book Value (P/BV) 0.984 1.05 0.957
Dividend Yield % 4.29 4.18 4.85

Get all company financials in excel:

Download Sample   $19.99

summary Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
income statement                                
Sales EUR mil                   2,026 1,989 2,166 2,578 3,066    
Gross Profit EUR mil ... ... ...             650 731 664 658 832    
EBIT EUR mil                   26.4 87.7 131 231 218    
Net Profit EUR mil                   -11.6 72.2 84.9 152 149    
ROE %                   -1.32 8.34 9.08 15.0 13.1    
EBIT Margin %                   1.31 4.41 6.03 8.97 7.10    
Net Margin %                   -0.571 3.63 3.92 5.91 4.87    
Employees ... ... ... ... ... ... ...     8,244 7,927 8,243 7,982 8,449    
balance sheet                                
Total Assets EUR mil                   1,996 1,888 1,993 2,362 2,578    
Non-Current Assets EUR mil                   1,019 1,004 982 993 1,098    
Current Assets EUR mil                   977 884 1,010 1,369 1,480    
Shareholders' Equity EUR mil                   826 905 964 1,073 1,212    
Liabilities EUR mil                   1,170 983 1,029 1,289 1,366    
Non-Current Liabilities EUR mil                   346 288 350 416 519    
Current Liabilities EUR mil                   824 695 678 873 847    
Net Debt/EBITDA                   5.33 2.82 2.34 1.87 1.97    
Net Debt/Equity                   0.703 0.536 0.510 0.536 0.487    
Cost of Financing % ...                 6.23 5.14 5.10 4.00 3.93    
cash flow                                
Total Cash From Operations EUR mil ...                 115 162 75.4 43.2 205    
Total Cash From Investing EUR mil ...                 -72.1 -48.4 -51.6 -97.9 -137    
Total Cash From Financing EUR mil ...                 -54.2 -119 -23.8 82.8 -21.6    
Net Change In Cash EUR mil ...                 -11.3 -5.07 0.039 28.1 46.3    
valuation                                
Market Capitalisation USD mil ...                 1,425 967 1,349 1,458 1,573    
Number Of Shares mil ...                 14.2 14.2 14.2 14.2 14.2    
Share Price EUR ...                 72.1 47.5 71.6 79.2 84.0    
Earnings Per Share (EPS) EUR ...                 -0.815 5.08 5.98 10.7 10.5    
Book Value Per Share EUR ...                 58.2 63.7 67.9 75.6 85.3    
Dividend Per Share EUR ...                 1.95 1.95 2.40 3.60 3.60    
Price/Earnings (P/E) ...                 -88.4 9.35 12.0 7.38 7.98    
Price/Book Value (P/BV) ...                 1.24 0.746 1.05 1.05 0.984    
Dividend Yield % ...                 2.70 4.11 3.35 4.55 4.29    
Earnings Per Share Growth % ... ...               -118 -723 17.6 79.5 -1.93    
Book Value Per Share Growth % ... ...               -10.4 9.53 6.58 11.3 13.0    
income statement Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
income statement                                
Sales EUR mil                   2,026 1,989 2,166 2,578 3,066    
Cost of Goods & Services EUR mil ... ... ...             1,376 1,258 1,502 1,920 2,234    
Gross Profit EUR mil ... ... ...             650 731 664 658 832    
Staff Cost EUR mil ... ... ...             210 218 226 245 274    
Other Cost EUR mil ... ... ...             331 341 229 105 258    
EBITDA EUR mil                   109 172 210 308 299    
Depreciation EUR mil                   82.4 84.4 79.2 76.6 81.4    
EBIT EUR mil                   26.4 87.7 131 231 218    
Financing Cost EUR mil                   41.5 31.1 28.5 24.7 27.7    
Extraordinary Cost EUR mil                   17.4 -30.8 -7.64 0.186 0    
Pre-Tax Profit EUR mil                   -32.4 87.4 110 206 190    
Tax EUR mil                   -16.6 14.7 22.6 50.6 33.7    
Minorities EUR mil                   -4.28 0.540 2.17 3.31 7.06    
Net Profit EUR mil                   -11.6 72.2 84.9 152 149    
Dividends EUR mil                   27.7 27.7 34.1 51.1 51.1    
growth rates                                
Total Revenue Growth % ...                 7.08 -1.83 8.89 19.0 18.9    
Operating Cost Growth % ... ... ... ...           46.5 3.20 -18.6 -23.0 52.1    
EBITDA Growth % ...                 -43.2 58.1 21.8 46.8 -2.78    
EBIT Growth % ...                 -73.9 232 48.8 77.1 -5.78    
Pre-Tax Profit Growth % ...                 -144 -370 25.5 88.1 -7.80    
Net Profit Growth % ...                 -118 -723 17.6 79.5 -1.93    
ratios                                
ROE %                   -1.32 8.34 9.08 15.0 13.1    
ROCE % ...                 -0.688 4.73 5.55 9.18 8.07    
Gross Margin % ... ... ...             32.1 36.7 30.7 25.5 27.1    
EBITDA Margin %                   5.37 8.66 9.68 11.9 9.76    
EBIT Margin %                   1.31 4.41 6.03 8.97 7.10    
Net Margin %                   -0.571 3.63 3.92 5.91 4.87    
Payout Ratio %                   -239 38.4 40.2 33.6 34.2    
Cost of Financing % ...                 6.23 5.14 5.10 4.00 3.93    
Net Debt/EBITDA                   5.33 2.82 2.34 1.87 1.97    
balance sheet Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
balance sheet                                
Non-Current Assets EUR mil                   1,019 1,004 982 993 1,098    
Property, Plant & Equipment EUR mil                   610 598 578 596 685    
Intangible Assets EUR mil     ... ...           260 252 249 248 249    
Current Assets EUR mil                   977 884 1,010 1,369 1,480    
Inventories EUR mil                   562 469 528 769 851    
Receivables EUR mil                   207 230 275 291 315    
Cash & Cash Equivalents EUR mil                   75.5 70.4 70.4 98.5 144    
Total Assets EUR mil                   1,996 1,888 1,993 2,362 2,578    
Shareholders' Equity EUR mil                   826 905 964 1,073 1,212    
Of Which Minority Interest EUR mil                   21.8 25.4 28.6 33.5 86.1    
Liabilities EUR mil                   1,170 983 1,029 1,289 1,366    
Non-Current Liabilities EUR mil                   346 288 350 416 519    
Long-Term Debt EUR mil                   250 208 267 332 429    
Deferred Tax Liabilities EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Current Liabilities EUR mil                   824 695 678 873 847    
Short-Term Debt EUR mil                   406 347 295 342 306    
Trade Payables EUR mil                   226 210 219 299 313    
Equity And Liabilities EUR mil                   1,996 1,888 1,993 2,362 2,578    
growth rates                                
Total Asset Growth % ...                 -9.43 -5.42 5.55 18.5 9.15    
Shareholders' Equity Growth % ...                 -10.4 9.53 6.58 11.3 13.0    
Net Debt Growth % ...                 -1.73 -16.4 1.31 17.1 2.56    
Total Debt Growth % ...                 -3.17 -15.3 1.15 20.0 8.99    
ratios                                
Total Debt EUR mil                   656 555 562 674 735    
Net Debt EUR mil                   580 485 491 575 590    
Working Capital EUR mil                   543 488 585 760 853    
Capital Employed EUR mil                   1,562 1,492 1,567 1,753 1,951    
Net Debt/Equity                   0.703 0.536 0.510 0.536 0.487    
Cost of Financing % ...                 6.23 5.14 5.10 4.00 3.93    
cash flow Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
cash flow                                
Net Profit EUR mil                   -11.6 72.2 84.9 152 149    
Depreciation EUR mil                   82.4 84.4 79.2 76.6 81.4    
Non-Cash Items EUR mil ...                 -137 -49.0 7.84 -10.8 67.1    
Change in Working Capital EUR mil ...                 182 54.5 -96.5 -175 -93.2    
Total Cash From Operations EUR mil ...                 115 162 75.4 43.2 205    
Capital Expenditures EUR mil ...                 -205 -73.2 -48.2 -55.9 -149    
Other Investments EUR mil ...                 133 24.8 -3.43 -42.0 12.1    
Total Cash From Investing EUR mil ...                 -72.1 -48.4 -51.6 -97.9 -137    
Dividends Paid EUR mil                   -27.7 -27.7 -34.1 -51.1 -51.1    
Issuance Of Debt EUR mil ...                 -21.5 -100 6.41 112 60.6    
Total Cash From Financing EUR mil ...                 -54.2 -119 -23.8 82.8 -21.6    
Net Change In Cash EUR mil ...                 -11.3 -5.07 0.039 28.1 46.3    
ratios                                
Days Sales Outstanding days                   37.2 42.2 46.4 41.2 37.5    
Days Sales Of Inventory days ... ... ...             149 136 128 146 139    
Days Payable Outstanding days ... ... ...             59.9 60.9 53.2 56.9 51.2    
Cash Conversion Cycle days ... ... ...             126 117 122 130 125    
Cash Earnings EUR mil                   70.8 157 164 229 231    
Cash Earnings Per Share EUR ...                 4.99 11.0 11.6 16.1 16.3    
Price/Cash Earnings (P/CE) ...                 14.5 4.31 6.19 4.91 5.17    
Free Cash Flow EUR mil ...                 42.9 114 23.8 -54.7 67.9    
Free Cash Flow Yield % ...                 4.41 16.4 2.34 -5.21 5.54    
other data Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
other data                                
ROA %                   -0.551 3.72 4.38 7.00 6.05    
Gross Margin % ... ... ...             32.1 36.7 30.7 25.5 27.1    
Employees ... ... ... ... ... ... ...     8,244 7,927 8,243 7,982 8,449    
Cost Per Employee USD per month ... ... ... ... ... ... ...     3,111 3,184 3,020 3,559 3,474    
Cost Per Employee (Local Currency) EUR per month ... ... ... ... ... ... ...     2,126 2,290 2,283 2,560 2,706    
Staff Cost (As % Of Total Cost) % ... ... ...             10.5 11.5 11.1 10.4 9.63    
Effective Tax Rate %                   51.1 16.8 20.6 24.5 17.7    
Enterprise Value (EV) USD mil ...                 2,233 1,662 2,001 2,204 2,352    
EV/EBITDA ...                 14.0 6.94 7.21 5.15 6.12    
EV/Capital Employed ...                 1.03 0.777 0.962 0.970 0.914    
EV/Sales ...                 0.753 0.601 0.698 0.615 0.598    
EV/EBIT ...                 57.7 13.6 11.6 6.86 8.41    
Domestic Sales EUR mil ... ... ... ...           811 923 1,044 1,307 1,524    
Capital Expenditures (As % of Sales) % ...                 10.1 3.68 2.22 2.17 4.86    
Revenues From Abroad EUR mil ... ... ... ...           1,215 1,066 1,122 1,271 1,542    
Revenues From Abroad (As % Of Total) % ... ... ... ...           60.0 53.6 51.8 49.3 50.3    
Sales of Sugar Segment EUR mil ... ... ... ...           703 684 713 884 1,122    
Sales of Starch Segment EUR mil ... ... ... ... ... ... ...     519 499 583 764 804    
Sales of Fruit Segment EUR mil ... ... ... ... ... ... ...     804 806 870 929 1,140    
EBITDA of Sugar Segment EUR mil ... ... ... ... ... ... ...     38.0 37.0 51.0 129 139    
EBITDA of Starch Segment EUR mil ... ... ... ... ... ... ...     49.0 67.0 74.0 106 96.0    
EBITDA of Fruit Segment EUR mil ... ... ... ... ... ... ...     32.0 72.0 82.0 74.0 83.0    
EBIT of Sugar Segment EUR mil ... ... ... ... ... ... ...     16.0 15.0 33.0 112 119    
EBIT of Starch Segment EUR mil ... ... ... ... ... ... ...     28.0 41.0 48.0 82.0 73.0    
EBIT of Fruit Segment EUR mil ... ... ... ... ... ... ...     -6.00 36.0 47.0 38.0 45.0    
Employees - Sugar Segment ... ... ... ...           2,464 2,336 2,245 2,249 2,315    
Employees - Starch Segment ... ... ... ... ... ... ...     853 880 880 911 950    
Employees - Fruit Segment ... ... ... ... ... ... ...     4,927 4,711 5,118 4,822 5,184    
Sales in Austria EUR mil ... ... ... ...           811 923 1,044 1,307 1,524    
Sales in Hungary EUR mil ... ... ... ... ... ... ... ... ... ... 202 217 274 307    
Sales in Romania EUR mil ... ... ... ... ... ... ... ... ... ... 146 148 183 229    
Sales in the Rest Of EU EUR mil ... ... ... ...           872 356 330 367 454    
Sales in the Rest Of Europe EUR mil ... ... ... ...           103 102 136 136 168    
Sales in Other Countries EUR mil ... ... ... ... ...         241 260 291 311 384    
EBIT Margin - Sugar Segment % ... ... ... ... ... ... ...     2.28 2.19 4.63 12.7 10.6    
EBIT Margin - Starch Segment % ... ... ... ... ... ... ...     5.39 8.22 8.23 10.7 9.08    
EBIT Margin - Fruit Segment % ... ... ... ... ... ... ...     -0.746 4.47 5.40 4.09 3.95    

Get all company financials in excel:

Download Sample   $19.99

Mar 2014
Statistical Dossier

Agrana Beteiligungs AG is an Austria-based producer of fruit preparations for the dairy industry. The Company's products include fruit preparation, fruit base, sugar and starch products. The products of the Sugar Segment are marketed both directly to consumers through food retailers, and to the sugar-using industry. In the Starch segment, the Company processes and refines mainly corn (maize) and potatoes into starch products. The Fruit segment designs and produces fruit preparations (fruit ingredients) and fruit juice concentrates. The Company operates over 50 production sites on six continents. The Company also manufactures animal feed and fertilizers. Agrana has been listed on the Vienna Stock Exchange since 1991.

Finance

Agrana Beteiligungs has been growing its sales by a year on average in the last 5 years. EBITDA has grown on average by 3.22% a year during that time to total of EUR 202 mil in 2014, or 8.09% of sales. That’s compared to 9.63% average margin seen in last five years.

The company netted EUR 80.9 mil in 2014 implying ROE of 6.78% and ROCE of 4.48%. Again, the average figures were 10.5% and 6.57%, respectively when looking at the previous 5 years.

Agrana Beteiligungs’s net debt amounted to EUR 507 mil at the end of 2014, or 0.425 of equity. When compared to EBITDA, net debt was 2.51x, up when compared to average of 2.19x seen in the last 5 years.

Valuation

Agrana Beteiligungs stock traded at EUR 80.5 per share at the end of 2014 resulting in a market capitalization of USD 1,384 mil. Over the previous five years, stock price grew by 69.5% or 11.1% a year on average. The closing price put stock at a 12-month trailing EV/EBITDA of 7.68x and price to earnings (PE) of 14.1x as of 2014.