21st Austria weekly - Agrana, Strabag (11/11/2024)

Agrana: Sugar, starch and fruit group Agrana reduced its guidance and now expects a very significant EBIT decline (before: significant decline)  in 2024|25 financial year. Due to higher sugar inventories and sharply falling sugar prices (in the EU and globally), Agranas sugar segment in particular would continue to face very challenging times in the coming months. Since the full-blown start of the sugar beet processing campaign in October 2024, it has also become evident that the campaign costs of the new 2024|25 sugar marketing year will be higher than expected. In the meantime, the evaluation of September’s flooding damages (primarily in Austria) has also been largely completed. The negative impact on earnings in the current financial year has been higher than originally forecast, mainly due to the production stoppage at the plant in Pischelsdorf, Austria, in the Starch segment. These developments are primarily responsible for the forecast now that the 2024|25 financial year will be characterised by a very significant decline in EBIT* of more than 50% at the Group level. The operating profit before exceptional items and results of equity-accounted joint ventures is expected to be in the range of € 55 million to € 75 million.
Agrana: weekly performance: -7.39%

Strabag: In a bidding process, the construction group Strabag was able to secure the contract from WBV-GPA for a mixed-use project in Muthgasse in Vienna Döbling (19th district) with a usable area of ​​​​approx. 40,000 m2. 238 of the 309 residential units are subsidized rental apartments. In addition to affordable housing, a student dormitory with a total of 258 residential units, a kindergarten for six children's groups and a sports hall are planned. The property also contains office and commercial space covering approx. 5,500 m². 270 parking spaces are divided between an above-ground and an underground car park. The project is scheduled to be completed in early 2027.
Strabag: weekly performance: 4.13%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (11/11/2024)

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