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Südzucker AG Posts Consolidated Loss In FY - Quick Facts

Südzucker AG (SUEZF.PK) said, as expected, its consolidated group operating result in fiscal 2018/19 declined sharply driven mainly by the sugar segment's substantial losses in the second half of the fiscal year. The CropEnergies segment's operating result was also down sharply. Due to the reassessment of the sugar market environment, restructuring expenses as well as goodwill impairment in the sugar segment, led to a substantial group consolidated loss for the fiscal year period.

For fiscal 2018/19, consolidated loss was 805 million euros compared to profit of 318 million euros, prior year. Consolidated group operating result declined to 27 million euros from 445 million euros.

Fiscal 2018/19 consolidated group revenues fell to 6.75 billion euros from 6.98 billion euros, prior year. The sugar and CropEnergies segments' revenues fell sharply, for the fiscal year period.

Looking forward, Südzucker expects consolidated group revenues of 6.7 billion euros to 7.0 billion euros in fiscal 2019/20. Consolidated group operating result is anticipated in the range of break even to 100 million euros.

The executive board has decided to recommend a dividend of 0.20 euros per share for fiscal 2018/19.

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