Favoriten-Aktie AGT: Leicht verbessertes Ergebnis im ersten Quartal
Der kanadische Hülsenfrüchte-Hersteller AGT Food and Ingredients hat Quartalszahlen vorgelegt. Demnach stieg das bereinigte Ergebnis vor Zinsen, Steuern und Abschreibungen (EBITDA) leicht gegenüber dem Vorjahr an. Allerdings ist das Ergebnis je Aktie rückläufig. Wir veröffentlichen dazu unten die Mitteilung des Unternehmens in englischer Sprache.
AGT Food and Ingredients Inc: ISIN CA0012641001 / WKN A12C4P
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AGT Food and Ingredients Inc. Announces First Quarter 2018 Results
REGINA - AGT Food and Ingredients Inc. (TSX:AGT) ("AGT" or the "Company") has announced its financial results for the three months ended March 31, 2018.
Highlights for the first quarter include:
- Adjusted EBITDA* was $16.1 million for the three months ended March 31, 2018 compared to $15.6 million for the three months ended December 31, 2017 and compared to $20.1 million for the three months ended March 31, 2017.
- Food ingredients and packaged foods contributed 63.2% of Adjusted EBITDA* for the three months ended March 31, 2018 compared to 43.1% for the three months ended December 31, 2017 and compared to 41.2% for the three months ended March 31, 2017.
- Food ingredients and packaged foods Adjusted Gross Profit* per metric tonne ("mt") improved to $197.55 per mt for the three months ended March 31, 2018 compared to $187.29 per mt for the three months ended December 31, 2017 and compared to $180.20 per mt for the three months ended March 31, 2017.
- Adjusted Gross Profit* per mt improved to $64.37 per mt for the three months ended March 31, 2018 compared to $46.02 per mt for the three months ended December 31, 2017.
- Adjusted Net Earnings* per share were $0.18 ($0.18 fully diluted) for the three months ended March 31, 2018 compared to Adjusted Net Earnings* per share of $0.28 ($0.28 fully diluted) for the three months ended March 31, 2017 and compared to an Adjusted Net Loss* per share of $0.17 (Adjusted Net Loss* per share of $0.17 fully diluted) for the three months ended December 31, 2017.
- Net Debt* decreased to $507.2 million March 31, 2018 when compared to $562.1 million March 31, 2017 and remained relatively stable, with an increase of approximately 7% from December 31, 2017.
- Dividend of $0.15 per share for the quarter ($0.60 per share on an annualized basis).
"The results for this quarter are positive for AGT's business and demonstrate the strength and diversity our segments have in providing earnings balance in times where markets are challenged. Our Food Ingredients and Packaged Foods segment performed particularly well - performance that we believe is consistent with our investments and focus in this area. By providing over 60% of our Adjusted EBITDA* for the quarter, this segment balances our underperforming pulses and grains and trading segments. However, we continue to believe that the demand fundamentals for pulse and staple foods remains unchanged, and that the market conditions impacting import volumes, such as the oversupply of pulses and the duty and non-tariff barriers to the key Indian market, are temporary. While markets for pulses normalize and we see volume increases to our traditional markets, we continue to focus on strengthening our balance sheet, as well as continued diversification of our business to be in the best position as these cycles resolve. Seeding intentions for Canadian farmers are becoming clearer, and we believe market conditions may have reached bottom, providing signals that gradual recovery is beginning to emerge for the market," said Mr. Murad Al-Katib, President and CEO of AGT.
"The type of cyclicality we are seeing in the market today is not uncommon for commodity markets. As a company, we continue to believe in the fundamental earnings power of our strategically located assets on five continents, our strong origination platform, the critical market intelligence and access to markets we possess, and the experienced management group we have guiding the direction of AGT as we navigate these market conditions. We believe our business remains strong when considering AGT's diverse business segments and competitive position that allows AGT the ability to be among the first to respond when the market calls for more staple foods, grains and pulses, capturing value and growth for our shareholders," said Mr. Hüseyin Arslan, Executive Chairman of the Board of Directors of AGT.
The financial statements and notes thereto for the three months ended March 31, 2018, as well as the related management's discussion and analysis, have been filed under AGT's profile on www.sedar.com and have been posted on AGT's website at www.agtfoods.com. All amounts are reported in Canadian dollars.
A conference call to discuss First Quarter 2018 results is scheduled for Monday, May 14, 2018 at 8:30 a.m. Eastern time. To join the conference, please dial 1-800-319-4610 (toll free from Canada & the U.S.) or +1-604-638-5340 (from outside Canada & the U.S.).
A recording of the call will be available at www.agtfoods.com on Monday, May 14, 2018. A telephone replay will also be available until midnight Eastern time, Monday, June 11, 2018. To access the replay, please call 1-800-319-6413 (toll free from Canada & the U.S.) or +1-604-638-9010 (from outside Canada & the U.S.). When prompted, enter the code 2249, followed by the number sign (#).
AGT Food and Ingredients Inc. Profile
AGT Food and Ingredients Inc. is a processor of value-added pulses, staple foods and ingredients for export and domestic markets as well as a supplier of retail packaged and canned foods to retail and food service sectors. Through its offices and processing facilities located in some of the best agricultural growing regions in Canada, the U.S., Turkey, China, Australia and South Africa, merchandising and sales offices in the U.K., the Netherlands, Spain, Switzerland and India and origination offices in Russia, AGT produces a full range of pulses and specialty crops including lentils, peas, chickpeas, beans and canary seed as well as food ingredients such as pulse flours, proteins, starches and fibres. Through its subsidiaries in Turkey, the Arbel Group, AGT also produces staple foods such as Arbella Pasta, rice, and milled wheat products, including bulgur and semolina.