KTG Agrar SE continues optimisation strategy with determination
- Full concentration on conventional and organic cultivation, non-GMP food and clean energy- Business model to be optimised through sale of share in Russian agricultural corporation
- Management board of KTG Agrar SE to be reduced from five to three members
Hamburg, 9 October 2015. KTG Agrar SE (ISIN: DE000A0DN1J4) continues its optimisation strategy with determination. Going forward, the company will focus even more strongly on the cultivation of conventional and organic agricultural commodities, the production of non-GMP food and the generation of renewable energy. The agricultural company has therefore decided to sell its investment in the Russian Sojus Group, an agricultural corporation focusing on pig production in the Chernozem region.
"Following a thorough review, we have accepted the attractive offer made by our joint venture partner. Our farming activities will be refocused entirely on Germany and the EU member states. Our food, which is made in Germany from the field to the plate, gives us a strong and unique selling proposition for the international markets," says Siegfried Hofreiter. KTG Agrar's proceeds from the sale of the Sojus Group will total over EUR 20 million.
In view of the sale, the Supervisory Board and the Management Board have agreed that specific Management Board responsibility for the Eastern European market is no longer needed. Benedikt Förtig, the Management Board member in charge of this department, would like to continue working in this field. The Supervisory Board has accepted this wish and thanks Mr Förtig for his work.
The completion of the KTG Group's massive investment phase means that the contract of Bert Wigger was fulfilled as planned with effect from 30 September 2015. To implement the planned expansion, he had changed from the Supervisory Board to the Management Board of KTG Agrar in 2011. He will now work on a self-employed basis and will remain available to the company in an advisory capacity.
"We would like to thank Benedikt Förtig and Bert Wigger for their motivated work in the past years. Both have shown strong commitment in different functions and thus helped to actively shape and grow the KTG Group," said Henning von Reden, Chairman of the Supervisory Board of KTG Agrar SE. "Over the past years, a strong operational management team has been built up in the farming, energy and food segments. In optimising our structures, we will therefore rely on a lean Management Board of KTG Agrar SE in future."
KTG Agrar SE will thus be led by Siegfried Hofreiter (CEO) together with Ulf Hammerich (CAO) and Michael Schirrmacher (CHRO). In the context of the streamlining of the Management Board, it has been decided to strengthen the responsibility of the divisional heads. Says CEO Siegfried Hofreiter: "Our farming, energy and food segments are led by experienced managers. They have the expertise we need to effectively implement our optimisation strategy. The focus will be on further developing our »From field to plate« business model in line with actual market requirements."
KTG Agrar is optimistic about the future. Next week will see KTG's "biozentrale", "Frenzel Tiefkühlkost" and "Die Landwirte" brands present numerous innovative food products from own cultivation at ANUGA, the world's leading event of the food industry, and set the course for a successful year 2016.
About KTG Agrar SE
With cultivable land of over 45,000 hectares, KTG Agrar SE (ISIN: DE000A0DN1J4) is one of the leading producers of agricultural commodities in Europe. As an integrated supplier, the company produces agricultural commodities, renewable energy and food. The Hamburg-based company's core area of expertise is the organic and traditional cultivation of market products such as cereals, potatoes, soy and rapeseed. KTG Agrar is the European market leader in organic market products. The company mainly produces in Germany but since 2005 also in the EU member states of Lithuania and Rumania. KTG Agrar SE has been expanding the value chain since 2011 and added food production to its business portfolio. The brands Frenzel Tiefkühlkost, Bio-Zentrale Naturprodukte, Ölmühle Naturoel Anklam and Die Landwirte are under the umbrella of KTG Foods SE. Since 2015 the KTG Group is maintaing a sales office in Shanghai. In the year 2014, KTG Agrar SE achieved a total output of EUR 297.7 million and an EBIT of EUR 37.1 million. The company has been listed on the Frankfurt Stock Exchange since November 2007 and employed more than 1,000 staff at year end 2014. Further information can be found on the company's website at www.ktg.ag
Contact
Investor Relations / Press
Fabian Lorenz
T: +49 221 29831588
E: presse@ktg-agrar.de
