SOURCE: Agria Corporation

Agria Corporation

June 15, 2015 08:30 ET

Agria Subsidiary PGG Wrightson Expects Strong Annual Results

BEIJING, CHINA--(Marketwired - Jun 15, 2015) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria") today announced that its New Zealand-listed subsidiary, PGG Wrightson Limited (NZSE: PGW) ("PGW"), expects its full year 2015 operating EBITDA** will be in the NZ$66 to $69 million range, slightly greater than the guidance indicated in February 2015.

Mr. Alan Lai, Executive Chairman of Agria and Chairman of the PGW Board commented, "We are pleased with the upward revision to PGW's guidance off the back of excellent first half results and more challenging conditions in the second half. The results the company is delivering are a credit to the dedicated staff that PGW has across its business and represents a turnaround success since Agria's investment in 2008."

PGW's trading update and management comments can be accessed via the following link: http://pggwrightson.co.nz/our-company/news/2015-nzx-announcements

Both Agria and PGW expect to announce their full year results in mid-August 2015 with details of the announcements to be confirmed closer to the time.

*All references to PGG Wrightson Limited or the Group refer to the Company, its subsidiaries and interests in associates and jointly controlled entities.

**Disclosure Statement: Non-GAAP profit reporting measures:

PGW's standard profit measure prepared under New Zealand GAAP is "profit/(loss) for the period." PGW has used non-GAAP profit measures when discussing financial performance in this document. The directors and management believe that these measures provide useful information as they are used internally to evaluate performance of business units, to establish operational goals and to allocate resources. They also represent some of the performance measures required by PGW's debt providers. For a more comprehensive discussion on the use of non-GAAP profit measures, please refer to the policy "Non-GAAP Financial Information" available on our website (www.pggwrightson.co.nz) or refer to our previous financial statements for reconciliations to GAAP profit measures.

Non-GAAP profit measures are not prepared in accordance with NZ IFRS and are not uniformly defined, therefore the non-GAAP profit measures reported in this document may not be comparable with those that other companies report and should not be viewed in isolation or considered as a substitute for measures reported by PGW in accordance with NZ IFRS.

PGW's definition of non-GAAP profit measures used in this document:

Operating EBITDA excluding earnings of associates: Earnings before net interest and finance costs, income tax, depreciation, amortization, fair value adjustments, non-operating items and equity accounted earnings of associates.

About Agria Corporation
Agria (NYSE: GRO) is a global agricultural company with three principal business segments: Seed and Grain; Crop Protection, Nutrients and Merchandise; and Rural Services. The Seed and Grain segment is engaged in research and development, production and sale of a broad range of seed products and trading of seed and grain products globally. The Crop Protection, Nutrients and Merchandise segment operates an extensive chain of retail stores that supply farm input materials. The Rural Services segment provides livestock trading, wool trading, irrigation and pumping, real estate agency and other agriservices. For more information about Agria Corporation, please visit www.agriacorp.com.

Safe Harbor Statement:
This announcement contains forward-looking statements. These statements, including the management's commentary, are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Agria may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on Forms 20-F and 6-K, etc., in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Agria's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, those risks outlined in Agria's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this announcement unless otherwise stated and Agria does not undertake any obligation to update any forward-looking statement, except as required under applicable law.