Südzucker Sees Double-Digit Revenue Growth In First Half, Raises Forecast

By Dayeeta Das
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Südzucker Sees Double-Digit Revenue Growth In First Half, Raises Forecast

European sugar producer Südzucker has reported 10% year-on-year growth in revenue, to €5.1 billion, in the first half of its financial year.

The German sugar-maker expects consolidated group operating profit to range between €900 million and €1 billion – up from its previous forecast of €850 million to €950 million.

Group EBITDA at Südzucker is likely to range between €1.3 billion and €1.4 billion – up from €1.2 billion to €1.4 billion.

The group lowered its consolidated revenue forecast for fiscal 2023/24 to between €10.0 billion and €10.5 billion – down from its previous projection of €10.4 billion to €10.9 billion in April of this year.

First-Half Highlights

Group EBITDA increased to €739 million in the first half, from €465 million a year ago.


Its consolidated group operating profit increased to €592 million, from €316 million in the same period last year.

Revenue in the sugar segment rose to €1.95 billion from €1.4 billion last year, despite declining sales volumes due to a poor harvest in 2022 and higher prices.

The special-product segment generated revenue worth €1.2 billion – up from €1.1 billion, year on year – driven by higher prices.


Revenue in the CropEnergies segment dropped to €565 million from €798 million in 2022, due to lower sales volumes following scheduled maintenance shutdowns and significantly lower prices.


The starch segment also reported a decline in revenue, to €562 million, from €603 million last year.

The overall increase in prices was unable to compensate for the significant decline in volumes, Südzucker noted.

The fruit segment’s revenues amounted to €791 million – up from €727 million the previous year.

Revenues increased for both fruit preparations and fruit juice concentrates, due to price factors, the company added.

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