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Presentation Digital Investor Conference (23-24 April 2020) Sustainable ZUCKERFRUIT management STÄRKESTARCH FRUCHTSUGAR DerThe natürliche natural upgradeMehrwert AGRANA Beteiligungs-AG Digital 12th Austrian Equity Days|France Kepler Cheuvreux 23|24 April 2020 CONTENTS 1 Introduction & Business overview 2 AGRANA share 3 Segment overview incl. financial statements Q1-3 2019|20 4 Segment Fruit, Starch and Sugar 5 Latest News and Outlook 2020|21 6 COVID-19 AGRANA | Kepler Digital Conference | 23-24 April 2020 2 (FINANCIAL) HIGHLIGHTS INTRODUCTION & BUSINESS OVERVIEW 3 STRATEGIC POSITIONING B2B WE ALL CONSUME AGRANA (PRODUCTS) At the beginning there AGRANA supplies is always agriculture… the Big Names... We all consume AGRANA refines agrarian AGRANA every day raw materials... without noticing it... confectionery, beverage, fermentation industries, food retailers; paper, textile, pharmaceutical industries; feed industry; dairy, ice-cream, bakery industries and many more AGRANA | Kepler Digital Conference | 23-24 April 2020 4 AGRANA PRODUCTS IN DAILY LIFE AT A GLANCE FRUIT STARCH SUGAR ▪ Fruit juice concentrates customers are ▪ AGRANA produces starch and special Sugar is sold fruit juice and beverage bottlers and starch products ▪ to consumers via the food trade and fillers ▪ Starch is a complex carbohydrate ▪ to manufacturers: e.g. soft drinks ▪ Fruit preparations are special which is insoluble in water. Starch is industry, confectionery industry, customized products for used in food processing e.g. as fermentation industry, other food and ▪ the dairy industry, thickener and for technical purposes beverage industries e.g. in the paper manufacturing ▪ the baked products industry, process ▪ the ice-cream industry. ▪ Bioethanol is part of our starch business AGRANA | Kepler Digital Conference | 23-24 April 2020 5 57 PRODUCTION SITES WORLDWIDE SEGMENTATION BY SEGMENT FRUIT STARCH SUGAR 27 fruit preparations plants and 5 starch plants 7 sugar beet plants 15 fruit juice concentrate plants (incl. 2 bioethanol plants) 2 raw sugar refineries (& Instantina) Czech Rep. Slovakia Austria Hungary* Romania* Bosnia- Herzegovina Bulgaria Countries with production sites Countries with production sites Countries with plants Beet sugar plants Potential growth regions Main markets Raw sugar refineries Starch plants Other markets Distribution centre Bioethanol *also with refining plants activities AGRANA | Kepler Digital Conference | 23-24 April 2020 6 GROWTH BY STRATEGY Customer- and market- Synergies oriented growth in CEE and SUGAR CENTRAL- & EASTERN EUROPE Use synergies between Southeastern Europe business segments to position the Group Organic growth, and adding STARCH optimally for the value by tailor-made products increasingly volatile EUROPE operating environment in the segments Customer- and market-oriented FRUIT global growth GLOBAL Investor and customer value from Balance of risk Exchange of know-how Cost savings through synergies Capital market A long-term asset for shareholders AGRANA | Kepler Digital Conference | 23-24 April 2020 7 2019|20 AND 2020|21 FINANCIAL CALENDAR 7 May 2020 Results for full year 2019|20 (annual results press conference) 23 June 2020 Record date for Annual General Meeting participation 3 July 2020 Annual General Meeting in respect of 2019|20 8 July 2020 Ex-dividend date 9 July 2020 Results for first quarter of 2020|21 9 July 2020 Record date for dividend 10 July 2020 Dividend payment date 8 October 2020 Results for first half of 2020|21 14 January 2021 Results for first three quarters of 2020|21 AGRANA | Kepler Digital Conference | 23-24 April 2020 8 2019|20 OVERVIEW (PRELIM) In 2019|20 goal of a significant improvement in operating profit (EBIT) at Group level was Wo achieved. World market leader in the production of FRUIT ▪ EBIT: € 87.1 m (prior year: € 66.6 m) PREPARATIONS and largest ▪ Revenue: € 2,480.7 m (prior year: € 2,433.0 m) manufacturer of fruit juice concentrates ▪ EBIT margin: 3.5% (prior year: 2.7%) in Europe Major European manufacturer of customised STARCH PRODUCTS and 57 bioethanol Production Leading sites SUGAR ~9,300 as of 29 Feb. 2020 € ~2.5 billion SUPPLIER Employees (FTEs) Group revenue in Central, Eastern & as of 29 Feb. 2020 in 2019|20 Southeastern Europe AGRANA | Kepler Digital Conference | 23-24 April 2020 9 AGRANA SHARE 10 DIVIDEND AND EARNINGS PER SHARE € 3 300% Dividend for 2018|19: 2.63 € 1.00 per share 244% 3 250% 2.24 2 200% 1.85 1.78 2 150% 1.43 1.46 1.125 1 1.00 100% 1.00 1.00 0.90 0.90 0.90 1 69% 50% 50% 63% 56% 0.41 49% 34% 0 0% 2012|13 2013|14 2014|15 2015|16 2016|17 2017|18 2018|19 DPS* EPS* Payout ratio *EPS and DPS adjusted; after the four-for-one Dividend yield (based on the closing share stock split performed in July 2018, all EPS and DPS values are based on the new number of shares out-standing at 28 February 2019, which was price at the last balance sheet date): 5.7% 62,488,976. AGRANA | Kepler Digital Conference | 23-24 April 2020 11 CURRENT STATUS SHAREHOLDER STRUCTURE TOTAL: 62,488,976 shares ~30% Rübenproduzenten Beteiligungs-GmbH ~50% (less one share -> AZ) ZBG ~70% Raiffeisen-Holding Z & S Zucker und Stärke NÖ-Wien 78.34% Holding AG ~10% ~50% Südzucker 2.74%1 18.92% FREE FLOAT 1 directly held by Südzucker AGRANA | Kepler Digital Conference | 23-24 April 2020 12 Q1-3 2019|20 SEGMENT OVERVIEW INCLUDING FINANCIAL STATEMENTS 13 Q1-3 2019|20 VS PRIOR YEAR REVENUE BY SEGMENT €m Q1-3 2019|20 1,863.5 +0.9% 1,879.4 47.3% 20.4% 890.2 -0.1% 889.3 Fruit 32.3% Starch Sugar 566.4 606.9 Q1-3 2018|19 GROUP 21.8% 406.9 383.2 Q1-3 2018|19 Q1-3 2019|20 47.8% 30.4% AGRANA | Kepler Digital Conference | 23-24 April 2020 14 Q1-3 2019|20 VS PRIOR YEAR EBIT BY SEGMENT €m GROUP EBIT margin Fruit Starch Sugar EBIT margin Q1-3 2018|19 Q1-3 2019|20 45.9 5.2% 7.0% 62.0 57.3 9.4% 6.5% 36.9 (8.7%) (35.4) (33.4) (8.7%) Q1-3 2018|19 Q1-3 2019|20 3.4% 63.5 69.8 3.7% AGRANA | Kepler Digital Conference | 23-24 April 2020 15 MOST IMPORTANT PROJECTS IN THE GROUP INVESTMENT OVERVIEW €m 183.8 2019|20 FRUIT 56.2 149.7 • Second production line at new plant in China • New lab for product development in Mitry-Mory, France 56.5 STARCH • Expansion of the wheat starch plant in Pischelsdorf, Austria • Expansion of the corn starch derivatives plant in Aschach, 97.0 Austria • Measures taken to increase specialty corn processing in 73.6 Aschach SUGAR • Completion of the new warehouse for finished product in 30.6 19.6 Buzău, Romania • New sugar centrifuges for the optimisation of energy 2018|19 2019|20 consumption in Hrušovany, Czech Republic • Implementation of a digitalisation project for data capture Sugar Starch Fruit and process control in all plants in various forms GROUP AGRANA | Kepler Digital Conference | 23-24 April 2020 16 MAIN PROJECT IN 2019|20 WHEAT STARCH CAPACITY INCREASE ▪ 2nd wheat starch plant in Pischelsdorf, Austria, was completed on schedule ▪ The plant successfully began operation at the end of November 2019 and will already contribute significant product quantities to the Starch segment’s sales volumes in the fourth quarter of 2019|20 ▪ Total investment: € 102 million ▪ 45 new jobs ▪ Further expansion of AGRANA's market position in the starch market Processed raw ~ 3,300 tonnes Pischelsdorf site materials (to) Investment processing capacity per TOTAL: 1,190,000 € ~300 million (2005 -2019) day AGRANA | Kepler Digital Conference | 23-24 April 2020 17 FINANCIAL RESULTS FOR Q1-3 2019|20 FRUIT SEGMENT REVENUE REVENUE stable at € 889.3 million €m 890.2 -0.1% 889.3 ▪ Fruit preparations: revenue rose slightly, with a small increase in sales volume ▪ Fruit juice concentrates: revenue was down, volume was up significantly Q1-3 2018|19 Q1-3 2019|20 EBIT lower than in prior year EBIT ▪ Reasons for deterioration mainly in the FP business: €m ▪ General cost increases could not be fully offset by higher sales volumes ▪ One-time impacts related to raw materials in Mexico (strawberry and mango) 62.0 45.9 ▪ Exceptional staff cost effects ▪ EBIT in the fruit juice concentrate business at a solid level (high delivery volumes from the 2018 harvest and Q1-3 2018|19 Q1-3 2019|20 good contribution margins), although it eased yoy -> idle-capacity costs (smaller 2019 apple harvest) AGRANA | Kepler Digital Conference | 23-24 April 2020 18 FINANCIAL RESULTS FOR Q1-3 2019|20 STARCH SEGMENT REVENUE REVENUE at € 606.9 million above prior year €m 606.9 ▪ Key reason was considerable increase in ethanol 566.4 revenue ▪ Saccharification products: despite declining prices, revenue was raised slightly through bigger volumes ▪ Native and modified starches saw revenue growth (thanks largely to volume increases) ▪ Revenue from animal feedstuffs was stable Q1-3 2018|19 Q1-3 2019|20 EBIT EBIT significantly up to € 57.3 million €m ▪ EBIT growth primarily due to significant price increases of ethanol and due to volume gains in all other product 57.3 segments 36.9 ▪ Equity-accounted HUNGRANA contribution declined from € 13.4 million to € 11.2 million -> strongly affected by price declines for isoglucose Q1-3 2018|19 Q1-3 2019|20 AGRANA | Kepler Digital Conference | 23-24 April 2020 19 FINANCIAL RESULTS FOR Q1-3 2019|20 SUGAR SEGMENT REVENUE REVENUE down to € 383.2 million €m ▪ Lower sugar sales volumes 406.9 383.2 ▪ Selling prices higher than in the year-earlier period Q1-3 2018|19 Q1-3 2019|20 EBIT EBIT still negative, but improved moderately €m ▪ 2019 campaign, like last year’s, is associated with crop-related idle-capacity costs ▪ Higher sugar sales prices than in the prior year had (35.4) (33.4) a positive effect on EBIT Q1-3 2018|19 Q1-3 2019|20 AGRANA | Kepler Digital Conference | 23-24 April 2020 20 CONSOLIDATED INCOME STATEMENT Q1-3 Q1-3 Q3 Q3 €m (condensed) 2019|20 2018|19 2019|20 2018|19 Revenue 1,879.4 1,863.5 629.4 601.9 EBITDA1 139.5 124.1 48.7 27.8 Operating profit before except.
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