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Südzucker Sees Group Revenues, Profits Decline In Full-Year 2018/19

Published on Mar 28 2019 12:20 PM in A-Brands tagged: Trending Posts / Sugar / Ethanol / Südzucker

Südzucker Sees Group Revenues, Profits Decline In Full-Year 2018/19

Südzucker has posted a 3.2% decline in revenues in full-year 2018/19, with the business posting revenue of €6.75 billon for the period.

The sugar business saw a significant decline in operating profit for the period, however, to €25 million, down from €445 million the previous year.

The group said that the performance was impacted by the 'highly volatile' sugar and ethanol markets.

The group announced a restructuring plan in February, due to a change in outlook for the global and EU sugar market.

'High Degree Of Uncertainty'

It said that guidance for full year 2019/20 is 'marked by a high degree of uncertainty', with the business anticipating revenues of between €6.7 billion and €7.0 billion for the year.

'Against this background of an ongoing difficult market environment, Südzucker expects another operating loss in the sugar segment of €200 to €300 million,' the business said.

'Südzucker estimates a significant revenue sales driven earnings improvement from October 2019, the beginning of the new sugar marketing year.'

© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.

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