Südzucker reduces full year outlook

According to the company, group operating profit significantly decreased in the same period to € 139 (previous year: 282) m. In the second quarter (1 June to 31 August 2018) group revenues reached € 1.734 (previous year: 1.710) bn. Group operating profit significantly decreased in the same period to € 62 (previous year: 128) m. The earnings decrease is caused especially by the decreasing results in the sugar and CropEnergies segments.

Südzucker now expects for financial year 2018/19 group revenues of € 6.6 to 6.9 (previous forecast: 6.8 to 7.1; previous year: 7.0) bn and group operating profit to reach € 25 to 125 (previous forecast: 100 to 200; previous year: 445) m. This adjustment is caused by the further very difficult market environment for sugar, saccharification products (starch) and ethanol. The forecast for the sugar segment in the current difficult environment and in light of the drought in the large growing areas of Südzucker Group is marked by a high degree of uncertainty. The full interim report for the first half year 2018/19 will be published on 11 October.