Südzucker reports significant drop in results during the first half of the year

In the second quarter (1 June to 31 August) consolidated group revenues reached € 1.734 (previous year: 1.710) bn and the group’s consolidated operating result declined considerably to € 62 (previous year: 128) m.

The decline is mainly attributable to lower results in the sugar and CropEnergies segments. The sugar segment’s revenues fell to € 1.389 (previous year: 1.516) bn in the first half of fiscal 2018/19, despite substantially higher sales volumes in exports and in the EU, driven by significantly lower sales revenues.

Last year sales revenues rose in the first half of the fiscal year, but they have been on a steep downward trend since October 2017. This caused operating result in the first half of fiscal 2018/19 to drop to € 3 (previous year: 111) m; a loss of € 6 (previous year: 47) m was recorded in the second quarter.

On 20 September 2018 Südzucker published a revised forecast for the 2018/19 fiscal year. Now consolidated group revenues are expected to reach € 6.6 to 6.9 (previous forecast: 6.8 to 7.1; previous year: 7.0) bn with group operating result of € 25 to 125 (previous forecast: 100 to 200; previous year: 445) m.