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News 835 views last update:6 Aug 2012

German Agravis aims for €6 billion turnover

Agravis Raiffeisen AG, the second largest German agro-dealer continues to grow and wants to realize sales of about €6 billion in the current fiscal year.

In the current fiscal year, the first steps have already been accomplished in this direction according to CEO Dr. Clemens Grosse Frie, who sketched a positive trend: "With around €2 billion in sales in the first four months we are exactly on budget and I am confident of achieving a good result above the €6 billion mark."
 
Despite the uncertainties in terms of the coming harvest, the business of Agravis marches well with the German farmers.
 
Because of clear frosts at the beginning of the year, which had far-reaching consequences for the crop development, and drought in some regions, agricultural experts had to adjust their crop estimates for 2012 in a downward direction.
 
Also with earnings before taxes of about €36 million, the company intends to continue the positive trend from last year.
 
Grosse Frie formulated a few long-term goals: "We have every intention of increasing turnover in 2015 to ½ billion and to €8 billion in 2020. At the same time we want to achieve a return on equity of at least 10% permanently. "

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