DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5

Südzucker Sees Business Impvements In Third Quarter

By Steve Wynne-Jones
Share this article
Südzucker Sees Business Impvements In Third Quarter

Südzucker has posted consolidated group revenue of €1.71 billion in the third quarter of its financial year, to 30 November, roughly in line with the same period the previous year.

Consolidated group operating profits increased to €39 million for the period, however – up from a €23 million loss for the same period in 2019 – with 'significant earnings improvements' seen in the group's sugar, 'special products' and CropEnergies segments.

For the first nine months of the year, meanwhile, consolidated group revenues stood at €5.03 billion, down from €5.19 billion for the same period last year, while group operating profit was €113 million (down from €116 million).

Full-Year Outlook

Looking ahead to the full year, Südzucker said that it is expecting consolidated group revenues of between €6.7 billion and €7.0 billion (2018: €6.8 billion), with group operating profit set to be a lot higher than the previous year; between €70 million and €130 million.

It said that its core sugar segment is likely to continue to post an operating loss of between €200 million and €260 million (2018: €239 million).

ADVERTISEMENT

However its special products segment, which includes both food and non-food applications, is likely to see a 'significant increase', while its CropEnergies segment is expected to see operating profits of around €100 million, up from €33 million last year.

The main reasons for this gain 'are continued significantly higher sales revenues for renewable ethanol', Südzucker said.

In its fruit segment, it expects to see a 'significant' earnings decline for the full year, it added.

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

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.