DGAP-News: KTG Agrar has promising start to harvest season
(firmenpresse) - KTG Agrar AG / Miscellaneous
02.08.2010 07:46
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KTG Agrar has promising start to harvest season:
Farming company benefits from high rapeseed price
Hamburg, August 2, 2010 - A few days ago, KTG Agrar AG (ISIN: DE000A0DN1J4)
completed the rapeseed harvest and hence the first phase of the 2010
harvest season. The farming company grows grain, maize and rapeseed on more
than 30,000 hectares of farmland in east Germany and Lithuania. This year,
it has harvested some 10,000 tons of rapeseed. This is still a good level,
even though it is eight to ten percent below the level of the record year
2009. 'If the season continues like this, we have every reason to be very
satisfied,' says Siegfried Hofreiter, CEO of KTG Agrar AG. 'Quantity alone
does not make a good harvest. The price must be right.' As a result of the
anticipated crop failures of 20 percent and more in South-Eastern Europe,
agricultural commodity prices have risen sharply in recent months. KTG
Agrar benefits from that. The company has already sold as much as 75
percent of its rapeseed. The price per ton amounts to more than EUR 300 per
ton and thus exceeds the prior year level by 30 percent. By selling the
remaining 25 percent of the harvest, the achieved average price will rise
further. Currently EUR 360 are paid for a ton of rapeseed. Says Siegfried
Hofreiter: 'This will more than offset the moderately lower harvest.'
KTG Agrar will continue to expand the cultivation of rapeseed in 2011.
Apart from the good margin achieved already today, the company expects a
positive price trend. One of the reasons for this optimistic expectation is
the German Biofuel Sustainability Ordinance, which will come into force in
2011. Under the new Ordinance, biodiesel producers may use only input
materials from sustainable production. Many foreign producers are unable to
provide such proof. As a result, demand for - and hence the price of -
certified locally grown rapeseed will increase. Today, it is already
possible to save a price of about EUR 350 per ton of rapeseed from the
harvest 2011 at the commodity forward exchange.
About KTG Agrar:
With cultivable land of more than 30,000 hectares, KTG Agrar AG is one of
the leading producers of agricultural commodities in Europe. 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 third
mainstay the production of bioenergy. At present, KTG Agrar operates biogas
plants with a total capacity of around eleven megawatts. In the year 2009,
KTG achieved a total output of EUR 59,7 million and EBIT of EUR 9.2
million. Since November 2007 the company is listed on the Frankfurt Stock
Exchange and currently mote than 200 employees. Further information can be
found at www.ktg.ag.
Contact:
Investor Relations / Press
Fabian Lorenz
IR.on AG
Tel: +49 221 914097 - 6
E-Mail: fabian.lorenz(at)ir-on.com
02.08.2010 07:46 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: KTG Agrar AG
Ferdinandstr. 12
20095 Hamburg
Deutschland
Phone: +49 (0)40-303 76-47
Fax: +49 (0)40-303 76-799
E-mail: info(at)ktg-agrar.de
Internet: www.ktg-agrar.de
ISIN: DE000A0DN1J4
WKN: A0DN1J
Listed: Freiverkehr in Berlin, Düsseldorf, München, Stuttgart; Open
Market (Entry Standard) in Frankfurt
End of News DGAP News-Service
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Datum: 02.08.2010 - 07:46 Uhr
Sprache: Deutsch
News-ID 31854
Anzahl Zeichen: 0
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Kategorie:
Business News
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