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MarketScreener Homepage  >  Equities  >  WIENER BOERSE AG  >  AGRANA Beteiligungs- AG    AGRV   AT000AGRANA3

AGRANA BETEILIGUNGS- AG

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AGRANA Beteiligungs : and Amal­ga­mated form joint ven­ture for the man­u­fac­ture of crys­talline be­taine

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12/14/2018 | 04:15am EDT

The fruit, starch and sugar group AGRANA signed a joint venture agreement with US-based sugar producer Amalgamated (The Amalgamated Sugar Company) relating to the construction of a betaine crystallisation plant at its sugar mill in Tulln, Lower Austria. The conclusion of the contract is subject to approval by the anti-trust authorities.

Betaine is manufactured from sugar beet molasses and has numerous practical applications. Betaine is used not only in the livestock sector as a constituent of animal feedstuffs but also in food supplements and sports drinks. Due to its osmoregulatory properties, betaine is also used in cosmetic products.

Work on the new betaine crystallisation plant is intended to start in early 2019. The financing required for the new facility of the joint venture amounts to around € 40 million. The construction work will take approximately a year.

AGRANA has been processing the sugar beet molasses obtained during the production of sugar to make liquid betaine since 2015. As a result of the new plant, Tulln will become the world's third production site at which natural, high-quality, crystalline betaine is manufactured. 'Amalgamated is one of the world's leading providers of the technology which extracts top-quality crystalline betaine from sugar beet molasses. We look forward to a successful partnership', highlighted Johann Marihart, CEO of AGRANA Beteiligungs-AG. 'Our investment in additional capacity and more value added increases our competitiveness during what is presently a difficult situation in the sugar market in terms of prices', Marihart added.

About AGRANA
AGRANA converts agricultural raw materials into high-quality foods and numerous industrial intermediate products. About 8,700 employees at 59 production sites worldwide generate annual Group revenue of approximately € 2.6 billion. Established in 1988, the company is the world market leader in fruit preparations and the leading producer of fruit juice concentrates in Europe. As well, its Starch segment is a major manufacturer of custom starch products and bioethanol. AGRANA today is also the leading sugar producer in Central and Eastern Europe.

About Amalgamated
Amalgamated is the second-largest sugar beet producer in the USA, with a cooperative-based sugar beet acreage of around 73,000 hectares in Idaho, Oregon and Washington. Besides the production of around one million tonnes of sugar, Amalgamated also sells beet cossettes, molasses and animal feed.

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Disclaimer

AGRANA Beteiligungs AG published this content on 14 December 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 14 December 2018 09:14:04 UTC

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Financials (EUR)
Sales 2020 2 504 M
EBIT 2020 85,4 M
Net income 2020 56,3 M
Debt 2020 354 M
Yield 2020 5,81%
P/E ratio 2020 19,1x
P/E ratio 2021 12,7x
EV / Sales2020 0,58x
EV / Sales2021 0,57x
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Technical analysis trends AGRANA BETEILIGUNGS- AG
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Mean consensus OUTPERFORM
Number of Analysts 2
Average target price 20,75  €
Last Close Price 17,22  €
Spread / Highest target 27,8%
Spread / Average Target 20,5%
Spread / Lowest Target 13,2%
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Managers
NameTitle
Johann Marihart Chief Executive Officer
Erwin Hameseder Chairman-Supervisory Board
Stephan Büttner Chief Financial Officer
Thomas Kirchberg Member-Supervisory Board
Ernst Karpfinger Member-Supervisory Board
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