German Sugar Maker Nordzucker Returns To Profit

By Dayeeta Das
Share this article
German Sugar Maker Nordzucker Returns To Profit

Germany's second largest sugar refiner Nordzucker has returned to profit this financial year, helped by cost cutting and stable European sugar markets, it said on Thursday.

The unlisted company said it expected only 'a relatively small decline' in sales volumes in its 2020/21 financial year, which started in March, as a result of the COVID-19 pandemic.

“We will in all likelihood close the current fiscal year with a good profit,” said CEO Lars Gorissen in a statement after the company’s shareholders meeting.

“We are profitable again. And this is due not only to the general conditions, but also to our decisive cost reduction measures throughout the Nordzucker group.”

Cost-Cutting And Efficiency Programmes

Nordzucker posted in May a €15 million ($18 million) net loss for its 2019/20 financial year against a loss of €36 million in the previous year, following benefits from cost-cutting and efficiency programmes.


Germany’s Südzucker, Europe's largest sugar refiner, posted on Thursday a 142% surge in second-quarter earnings and reaffirmed its estimate of a stronger annual profit with its sugar and biofuels sectors performing well.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: 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.