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Südzucker 9-month Operating Result Declines; Confirms FY Forecast - Quick Facts

Südzucker AG (SUEZF.PK) reported that in the first three quarters (1 March 2018 to 30 November 2018) of the current fiscal year 2018/19, group revenues were 5.19 billion euros compared to 5.30 billion euros, prior year. The consolidated group operating result fell significantly to 116 million euros from 384 million euros. The company said the decline was driven mainly by the sugar segment losses as of the third quarter. The CropEnergies segment's operating result also dropped substantially.

For the first three quarters of the current fiscal year, the sugar and CropEnergies segments' revenues fell clearly, whereas the special products segment's rose substantially. The fruit segment's revenues were about the same as last year.

Looking forward, Südzucker AG stated full-year 2018/19 consolidated revenues are expected between 6.6 billion euros to 6.9 billion billion euros. Consolidated group operating result is expected within a range of 25 million euros to 125 million euros. The decline in results will be largely attributable to the expected losses in the sugar segment. The CropEnergies segment's result is also expected to drop considerably.

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