DGAP-News: KTG Agrar AG plans conversion into European Company (Societas Europaea, SE)
(firmenpresse) - DGAP-News: KTG Agrar AG / Key word(s): Miscellaneous
KTG Agrar AG plans conversion into European Company (Societas
Europaea, SE)
11.07.2013 / 10:00
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Next logical step in the growth strategy of KTG in Europe
Hamburg, 11 July 2013. To support its international positioning and its
strategic development, KTG Agrar AG (ISIN: DE000A0DN1J4) intends to adopt
the status of a European Company (Societas Europaea, SE) under the name of
'KTG Agrar SE'. The Management Board of KTG Agrar AG has decided to submit
a proposal for approval of the change of the legal status to the Annual
General Meeting on 23 August 2013. KTG Agrar SE will retain the familiar
two-tier administration structure of KTG Agrar AG, with the Management
Board serving as managing body and the Supervisory Board serving as
supervising body. 'We are farmers operating in Germany, Lithuania, Romania
and Russia, and KTG food products are available in 22 countries,' says
Siegfried Hofreiter, CEO of KTG Agrar AG. 'For an international player,
this is the next logical step and will support our growth strategy in
Europe.'
KTG Agrar is pursuing a 'from field to plate' strategy of sustainable
growth. In fiscal 2012, the company expanded its farmland in Germany and
Lithuania from 35,900 hectares to 39,100 hectares - of which 9,600 hectares
are owned by the company. Total output increased by 50% to EUR 168.2
million, while sales revenues climbed 42% to EUR 110.2 million. The
operating result soared by 96% to EUR 29.5 million and net income for the
year rose from EUR 1.2 million to EUR 8.4 million. This is why not only the
change of the legal status but also a proposed dividend increase by approx.
12% to EUR 0.20 per share will be on the agenda of the next Annual General
Meeting.
KTG Agrar will continue its growth in the coming years and boost its sales
revenues to EUR 250 million in two to three years. Says Siegfried
Hofreiter: 'Most of the necessary investments have been made. We are now
reaping the fruits.'
About KTG Agrar
With cultivable land of more than 39,000 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 member state of
Lithuania since 2005. As a result of the takeover of Frenzel Tiefkühlkost
in 2012, KTG has expanded the value chain by the production of food. In the
year 2012, KTG achieved a total output of EUR 168 million and EBIT of EUR
29.5 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-agrar.de.
Contact
Investor Relations / Presse
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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11.07.2013 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, DE000A1H3VN9, DE000A1ELQU9,
WKN: A0DN1J , A1H3VN, A1ELQU
Indices: HASPAX
Listed: Freiverkehr in Berlin, Düsseldorf, Hamburg, München
(m:access), Stuttgart; Frankfurt in Open Market (Entry
Standard)
End of News DGAP News-Service
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220699 11.07.2013
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Datum: 11.07.2013 - 10:00 Uhr
Sprache: Deutsch
News-ID 277406
Anzahl Zeichen: 6806
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Kategorie:
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