AGRANA anticipates need for impairment charges due to the war in Ukraine Ad-HocData: 23.03.2022
The AGRANA Group previously anticipated EBIT in the 2021|22 financial year (1 March 2021 to 28 February 2022) to amount to at least € 86.6 million (guidance: a significant increase of at least 10 % compared to the prior year). On the basis of provisional, unaudited figures, the Group would generate EBIT prior to extraordinary items associated with the Ukraine war of around € 95.5 million (EBIT 2020|21: € 78.7 million). Group revenue will amount to around € 2.9 billion (2020|21: € 2,547.0 million).
The outbreak of the war in Ukraine on 24 February 2022 represents a relevant event for AGRANA as at the balance sheet date of 28 February 2022. Based on the current status of internal impairment testing, Management currently anticipates a largely non-cash impact on EBIT related to asset and goodwill impairments in a range of € 65 million to € 85 million. The consolidated audit performed by the appointed auditors is presently ongoing at the level of AGRANA Beteiligungs-AG. It is therefore not possible at this point in time to exactly define the actual scope of the impairments necessary.
The 2021|22 annual report will be published as planned on 13 May 2022.