The segment reporting, which conforms with International Financial Reporting Standard (IFRS) 8, distinguishes between three business segments – Sugar, Starch and Fruit – and thus follows the AGRANA Group’s internal reporting structure. The Sugar Segment comprises sugar production in Austria, Hungary, the Czech Republic, Slovakia, Romania and Bosnia-Herzegovina, as well as sugar-related business areas. The Starch segment encompasses production facilities in Austria, Hungary and Romania. The Fruit segment consists of two units: Juice (producing fruit juice concentrates in Austria, Denmark, Poland, Romania, Hungary and China) and Fruit (producing fruit preparations worldwide).
1.1 SEGMENTATION BY BUSINESS ACTIVITY
| €000 | Sugar | Starch | Fruit | Consolidation | Group |
|---|---|---|---|---|---|
| SEGMENTATION BY BUSINESS ACTIVITY 2009|10 |
|||||
| Total revenue | 737,015 | 533,788 | 805,988 | (87,632) | 1,989,159 |
| Inter-segment revenue | (52,963) | (34,586) | (83) | 87,632 | 0 |
| Revenue | 684,052 | 499,202 | 805,905 | 0 | 1,989,159 |
| EBITDA | 36,883 | 67,333 | 72,030 | 0 | 176,246 |
| Depreciation, amortisation and impairment of property, plant and equipment and intangibles 1 | (21,669) | (26,278) | (36,362) | 0 | (84,309) |
| Operating profit before exceptional items | 15,214 | 41,055 | 35,668 | 0 | 91,937 |
| Exceptional items | 0 | 0 | (5,007) | 0 | (5,007) |
| Operating profit after exceptional items | 15,214 | 41,055 | 30,661 | 0 | 86,930 |
| Share of result of associates | 0 | 0 | 0 | 0 | 0 |
| Carrying amount of associates | 0 | 0 | 0 | 0 | 0 |
| Segment assets | 505,915 | 370,336 | 772,377 | 0 | 1,648,628 |
| Segment liabilities | 201,891 | 62,547 | 133,252 | 0 | 397,690 |
| Purchases of property, plant and equipment and intangibles 1 | 11,420 | 10,836 | 26,126 | 0 | 48,382 |
| Purchases of non-current financial assets | 537 | 1 | 403 | 0 | 941 |
| Total capital expenditure | 11,957 | 10,837 | 26,529 | 0 | 49,323 |
| Staff count | 2,336 | 880 | 4,711 | 0 | 7,927 |
| €000 | Sugar | Starch | Fruit | Consolidation | Group |
|---|---|---|---|---|---|
| 2008|09 | |||||
| Total revenue | 751,086 | 551,979 | 804,476 | (81,213) | 2,026,328 |
| Inter-segment revenue | (48,583) | (32,540) | (90) | 81,213 | 0 |
| Revenue | 702,503 | 519,439 | 804,386 | 0 | 2,026,328 |
| EBITDA | 37,828 | 48,854 | 32,495 | 0 | 119,177 |
| Depreciation, amortisation and impairment of property, plant and equipment and intangibles 1 | (22,018) | (21,331) | (37,996) | 0 | (81,345) |
| Operating profit/(loss) before exceptional items | 15,810 | 27,523 | (5,501) | 0 | 37,832 |
| Exceptional items | (913) | (2,277) | 0 | 0 | (3,190) |
| Operating profit/(loss) after exceptional items | 14,897 | 25,246 | (5,501) | 0 | (3,190) |
| Share of result of associates | 5 | 0 | 0 | 0 | 5 |
| Carrying amount of associates | 605 | 0 | 0 | 0 | 605 |
| Segment assets | 601,865 | 368,268 | 784,237 | 0 | 1,754,370 |
| Segment liabilities | 297,873 | 58,946 | 122,331 | 0 | 479,150 |
| Purchases of property, plant and equipment and intangibles 1 | 19,402 | 23,798 | 30,613 | 0 | 73,813 |
| Purchases of non-current financial assets | 862 | 254 | 556 | 0 | 1,672 |
| Total capital expenditure | 20,264 | 24,052 | 31,169 | 0 | 75,485 |
| Staff count | 2,464 | 853 | 4,927 | 0 | 8,244 |
1 Excluding goodwill.
The revenue and asset data represent consolidated amounts. Inter-segment charges for products and services are based on comparable market prices.
The exceptional items resulted from the costs for the relocation of the holding company from Paris to Vienna and for a goodwill write-down on a Fruit company in the Czech Republic.
Segment assets and segment liabilities are based on total segment assets and liabilities, respectively, and do not take into account financial receivables and borrowings. As well, the following items are eliminated in the segment data to the extent that they cannot be allocated: investments in outside companies, securities and loan receivables. Current and deferred tax assets/liabilities are also eliminated.
Segment assets and liabilities
| €000 | 2/28/10 | 2/28/09 |
|---|---|---|
| Total assets | 1,887,915 | 1,996,206 |
| Less non-current financial assets | (112,004) | (107,596) |
| Less securities, cash and cash equivalents | (73,903) | (81,288) |
| Less tax assets and other assets | (53,380) | (52,952) |
| Segment assets | 1,648,628 | 1,754,370 |
| Provisions and other liabilities | 983,261 | 1,170,293 |
| Less borrowings | (555,461) | (655,896) |
| Less deferred and current tax liabilities | (30,110) | (35,247) |
| Segment liabilities | 397,690 | 479,150 |
Companies are assigned to geographic segments based on the location of their registered office.
1.2. Segmentation by region
| €000 | 2009|10 | 2008|09 |
|---|---|---|
| Revenue | ||
| Austria | 923,128 | 810,530 |
| Rest of EU | 703,580 | 872,351 |
| EU-27 | 1,626,708 | 1,682,881 |
| Rest of Europe (Bosnia-Herzegovina, Russia, Serbia, Turkey, Ukraine) | 102,173 | 102,850 |
| Other foreign countries | 260,278 | 240,597 |
| Total | 1,989,159 | 2,026,328 |
The revenue generated by the Eastern European companies was € 761,820 thousand (prior year: € 811,382 thousand). The countries defined as Eastern Europe are Hungary, Slovakia, Czech Republic, Romania, Bulgaria, Poland, Russia, Ukraine, Turkey, Serbia and Bosnia-Herzegovina.
| €000 | 2009|10 | 2008|09 |
|---|---|---|
| Segment assets | ||
| Austria | 562,904 | 610,214 |
| Rest of EU | 795,552 | 858,441 |
| EU-27 | 1,358,456 | 1,468,655 |
| Rest of Europe (Bosnia-Herzegovina, Russia, Serbia, Turkey, Ukraine) | 98,532 | 92,333 |
| Other foreign countries | 191,640 | 193,382 |
| Total | 1,648,628 | 1,754,370 |
| Puchases of property, plant and equipment and intangibles 1 | ||
| Austria | 13,147 | 26,905 |
| Rest of EU | 19,748 | 29,464 |
| EU-27 | 32,895 | 56,369 |
| Rest of Europe (Bosnia-Herzegovina, Russia, Serbia, Turkey, Ukraine) | 5,455 | 5,857 |
| Other foreign countries | 10,032 | 11,587 |
| Total | 48,382 | 73,813 |
1 Excluding goodwill.