DGAP-News: KTG Agrar: Record year 2010
(firmenpresse) - DGAP-News: KTG Agrar AG / Key word(s): Final Results
KTG Agrar: Record year 2010
02.05.2011 / 09:26
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- Operating result +46%
- Result from ordinary activities +54%
- Dividend +50%
- Outlook 2011: strong growth ahead
Hamburg, 2 May 2011 - KTG Agrar AG (ISIN: DE000A0DN1J4) continued to grow
strong in 2010. Total output rose by 18.5% from EUR 60 million to EUR 70.8
million. Earnings before interest and taxes increased at a clearly
disproportionate rate of 46.1% from EUR 9.2 million to EUR 13.4 million. At
the same time, the KTG Group expanded its farmland by 5,500 hectares to
roughly 32,500 hectares und expanded the biogas capacity from 11 to 16
megawatts.
'We look back on a strong fiscal year, which saw us not only grow our
operations but also set the course for a successful future,' said Siegfried
Hofreiter, CEO of KTG Agrar. 'We want to give our shareholders a share in
this successful performance and will propose to increase the dividend by
50% to EUR 0.15 per share at the Annual General Meeting in July.'
All business segments contributed to the company's growth in 2010. Both the
organic and the conventional farming segments of KTG Agrar benefited from
the much higher prices of agricultural resources. This helped to more than
offset the weather-related decline in the harvest. Revenues from the sale
of organic food crops increased by 21.4% to EUR 7.1 million, while revenues
from the sale of conventional grain, maize and rapeseed rose by 78% to EUR
21.5 million. Biogas sales also picked up markedly. The Hamburg-based
company generated approx. EUR 14.2 million from the sale of the renewable
energy generated, which represents an increase of 11.9%.
The advantages of the combination of agriculture and biogas production are
increasingly being felt on the cost side, too. Due to the increase in
farmland, the cost of materials climbed from EUR 18.7 million to EUR 24.8
million, whereas the cost of materials as a percentage of sales declined
from 51.8% to 46.9%. Ulf Hammerich, Board member in charge of KTG Agrar
AG's agricultural activities, comments: 'The fermentation residues still
contain more than 95% of the nutrients. We put them back onto the fields,
which means that we save mineral fertiliser,' The extraordinary result was
clearly marked by the company's growth financing. The capital was increased
by 10% in March 2010 and a bond was issued in September. In contrast from
International Financial Reporting Standards (IFRS), the costs incurred in
this context were recognised in profit/loss in accordance with HGB
standards. Moreover, KTG Agrar has fully derecognised business start-up
costs instead of writing them off over several years. As a result, net
income for the year amounted to EUR 2.4 million (previous year: EUR 5.6
million). Adjusted for these one-time effects, the result from ordinary
activities climbed by 53.6% from EUR 6.9 million to EUR 10.6 million.
Strong growth targeted for 2011
KTG Agrar is optimistic for the year 2011. By expanding its farmland to
33,500 hectares, with the proportion of owned land at approx. 19%, the
company has laid the foundation for a successful year. Moreover, KTG Agrar
has used the high price level for agricultural commodities and already sold
about 60% of the 2011 harvest in the past months. KTG Agrar will continue
the farmland growth and further increase the proportion of owned land.
New biogas plantswent on line at the beginning of the year, bringing KTG
Agrar's total production capacity to roughly 16 MW at the beginning of
2011. This capacity is to be increased sharply in the course of the year.
'We aim to have 25 to 30 megawatts on line by the end of the year,' said
Dr. Thomas R.G. Berger, KTG Agrar Board member in charge of the biogas
segment. So far, the target was to reach the 25 megawatts in the middle of
2012. 'Thereby, we will further optimize our concept, to produce high
quality agricultural commodities and CO2 neutral energy from one field.'
Today the company already uses 50% second crop or agricultural waste
material for the energy production.
KTG Agrar plans to increase both its total output and EBIT in 2011. The
expansion of the biogas segment, which is characterised by high EBIT
margins, and the high prices for agricultural commodities should have a
positive impact on the Group's result.
About KTG Agrar:
With cultivable land of more than 33,000 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 is the production of bio-energy. At present, KTG Agrar operates
biogas plants with a total capacity of around 16 megawatts. 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 250 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
End of Corporate News
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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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122404 02.05.2011
Datum: 02.05.2011 - 09:26 Uhr
Sprache: Deutsch
News-ID 33921
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Kategorie:
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