Südzucker Sees Group Revenue Decline In First Quarter
Europe's largest sugar refiner Südzucker posted a 2.3% year-on-year decline in consolidated group revenue to €1.7 billion in the first quarter of its financial year.
The consolidated group operating result fell 49.3% to €78 million during the quarter from €153 million a year ago.
The EBITDA for the period declined by 34% to €138 million from €208 million in 2017.
Sales revenues in the sugar division dropped 10% to €695 million in the first quarter, while the CropEnergies segment saw an 18% decline in revenues to €176 million.
In the special products division, revenues rose 16% year on year during the quarter to €558 million.
In the fruit division, the revenue for the quarter grew moderately to €312 million from €311 million in 2018.
The sugar refiner expects consolidated group revenues in the range of €6.7 billion to €7 billion for this financial fiscal, in line with its forecast in March.
However, the company also said that it anticipates another operating loss of €200 million - €300 million in its sugar division.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.