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Südzucker Q1 Operating Result Down; Backs FY Outlook

Südzucker AG (SUEZF.PK) reported that its operating result for the first-quarter 2019/20 decreased to 47 million euros from the previous year's 78 million euros, mainly due to the sugar segment loss incurred.

The special products and CropEnergies segments post significant results improvements while the fruit segment reports a downturn in results.

Group consolidated revenues decreased to 1.68 billion euros from 1.74 billion euros in the prior year. While the sugar segment's revenues fell sharply, the fruit segment's held steady at last year's level and the special products and CropEnergies segments' rose.

For the 2019/20 fiscal year, Südzucker continues to anticipate a consolidated group operating result ranging between break even and 100 million euros. It estimates that the sugar segment will report another operating loss between 200 million euros and 300 million euros. In contrast, the company expects a moderately improved operating result for the special products segment.

For the 2019/20 fiscal year, the company still expects consolidated group revenues of 6.7 billion euros to 7.0 billion euros. It anticipates the sugar segment's revenues to drop moderately.

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