DGAP-News: KTG Agrar AG: Positive outlook on 2012 farming season
(firmenpresse) - DGAP-News: KTG Agrar AG / Key word(s): Miscellaneous
KTG Agrar AG: Positive outlook on 2012 farming season
29.03.2012 / 07:55
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KTG Agrar AG: Positive outlook on 2012 farming season
- Crop cultures have survived the winter well
- Spring sowing is in full swing
- Stable outlook for crop prices
Hamburg, 29 March 2012 - KTG Agrar AG, one of Europe's leading agricultural
companies, looks to the 2012 season with optimism. The company grows market
crops such as grain, maize and rapeseed on some 35,000 hectares of farmland
in eastern Germany and Lithuania. 'Our cultures have come through the
winter in good condition,' says Siegfried Hofreiter, the CEO of KTG Agrar.
'We are now in the midst of spring sowing.'
While the low temperatures in winter caused major frost damages in parts of
Germany such as in the state of Lower Saxony, overall damages remained on
an average level in eastern Germany where KTG Agrar's German farmland is
located. Above-normal frost damages were recorded only in the eastern part
of Brandenburg. In contrast, frost damages in Lithuania were below their
long-term average. This means that the 2011/2012 winter once again
demonstrated the benefits of KTG Agrar's regionally diversified footprint.
The company's farms and fields are geographically well diversified; while
the southernmost location is near Erfurt in Thuringia, the
north-easternmost farm is close to the Lithuanian city of Mazeikiai.
Last week the U.S. Department of Agriculture reported major crop failures
expected in several regions of the world. The severe draught in South
America was cited as one of the causes, aggravated by considerable frost
damages in eastern Europe, particularly in Ukraine and Bulgaria. The
current condition of KTG Agrar's cultures suggests that nothing stands in
the way of a good 2012 farming season. Says Siegfried Hofreiter: 'Given
that no record harvest is anticipated worldwide, we expect to be able to
market our 2012 harvest at solid prices.'
About KTG Agrar:
With cultivable land of around 35,000 hectares, KTG Agrar AG (ISIN:
DE000A0DN1J4) is one of the leading producers of agricultural commodities
in Europe. As an integrated supplier, the company produces agricultural
commodities and renewable energy and food. The Hamburg-based company's core
area of expertise is the organic and traditional cultivation of market
products such as cereals, maize and rapeseed. For organic market products
KTG Agrar is the European market leader. The company mainly produces in
Germany but has also operated production in the EU full member state of
Lithuania since 2005. The company's third mainstay is the production of
bio-energy. At present, KTG Agrar operates biogas plants with a total
capacity of around 27 megawatts. As a result of the takeover of Frenzel
Tiefkühlkost in 2011, KTG has expanded the value chain by the production of
food. In the year 2010, KTG achieved a total output of EUR 70.8 million and
EBIT of EUR 13.4 million. Since November 2007 the company is listed on the
Frankfurt Stock Exchange and has currently about 600 employees. Further
information can be found at www.ktg.ag.
Contact:
Investor Relations / Press
Fabian Lorenz
IR.on AG
Phone: +49 221 914097 - 6
E-mail: fabian.lorenz(at)ir-on.com
End of Corporate News
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29.03.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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The issuer is solely responsible for the content of this announcement.
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Language: English
Company: KTG Agrar AG
Ferdinandstr. 12
20095 Hamburg
Germany
Phone: +49 (0)40-303 76-47
Fax: +49 (0)40-303 76-799
E-mail: presse(at)ktg-agrar.de
Internet: www.ktg-agrar.de
ISIN: DE000A0DN1J4
WKN: A0DN1J
Indices: HASPAX
Listed: Freiverkehr in Berlin, Düsseldorf, München, Stuttgart;
Open Market (Entry Standard) in Frankfurt
End of News DGAP News-Service
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162842 29.03.2012
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