AGRANA Beteiligungs-Aktiengesellschaft announced earnings results for the third quarter and nine months of 2019. For the nine months, the company's revenue was EUR 1,863.5 million compared to EUR 2,010.6 million for the same period a year ago. EBIT was EUR 63.5 million compared to EUR 171.6 million for the same period a year ago. Profit for the period was EUR 37.0 million compared to EUR 127.6 million for the same period a year ago.

The quarterly EBIT, 3 months -- September, October, November, was the lowest yet in this financial year-to-date. EBIT in the third quarter was only EUR 1.2 million, this was mainly influenced by the devaluation of stocks in the Sugar segment with an amount of approximately EUR 12 million, and idle costs of EUR 10.4 million also in the Sugar segment amounting in a total of EUR 22 million that it had to post in the third quarter in the Sugar segment.

Forecast for full 2018/19 financial year confirmed, with significant EBIT decrease and slight reduction in revenue year-on-year.