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Fiscal year 2017/18

Fruit segment

Overview

AGRANA J&F Holding GmbH is the fruit segment's holding company. The fruit preparations are coordinated and operationally managed by a holding company, AGRANA Fruit S.A.S, based in Mitry-Mory, France. Fruit concentrates are managed by the holding company AUSTRIA JUICE GmbH, headquartered in Kröllendorf, Austria. In total, the segment had 28 production locations for fruit preparations in 21 countries as of the record date as well as 14 production plants for apple and berry juice concentrates in 7 countries.

Key figures for the fruit segment



2017/182016/17
RevenuesEUR million1,1611,155
EBITDAEUR million114110
Depreciation of fixed assets and intangible assetsEUR million-38-38
Operating resultEUR million7672
Restructuring/special itemsEUR million00
Income from companies consolidated at equityEUR million00
Result from operationsEUR million7672
EBITDA margin%9.79.5
Operating margin%6.56.2
Investments in fixed assetsEUR million4934
Investments in financial assets/acquisitionsEUR million046
Total investmentsEUR million4980
Capital employedEUR million844866
Return on capital employed%9.08.3
Employees
5,3704,924
Revenues and operating result
After declining in the first half year, the fruit segment’s revenue began rising again and at the end of fiscal 2017/18 was slightly higher than last year at € 1,161 (1,155) million. Lower volumes for fruit juice concentrates were more than offset by higher volumes for fruit preparations.
The operating result rose again in the fourth quarter, climbing to € 76 (72) million for the full year. The result continued to be driven by higher margins and volumes in the fruit preparations division, which more than offset the volume and margin declines in the fruit juice concentrates division.
Capital employed and return on capital employed (ROCE)
Capital employed fell to € 844 (866) million, driven especially by reduced working capital due to lower inventories and trade receivables. The higher operating result of € 76 (72) million caused ROCE to improve to 9.0 (8.3) %.
Investments in fixed assets
Investments totaled € 49 (34) million. The fruit preparations division invested in replacements, plant modernization and capacity expansions; for example, by starting construction of a second fruit preparation factory in Shanghai, China. The fruit juice concentrates division’s focus is on replacements and product optimization, in addition to installation of a new carrot concentrates production line in Ersekhalma, Hungary.