Plus   Neg

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The University of Phoenix has agreed to pay a record $191 million to settle Federal Trade Commission charges alleging that the university used deceptive advertisements. According to the FTC, the university used deceptive advertisements that falsely touted their relationships and job opportunities... General Motors introduced new versions of its Chevrolet Tahoe and Suburban full-size SUVs that are bigger than previous models, offer more interior space and feature more advanced technology. The new vehicles join the new Silverado and Silverado HD as part of a complete redesign of Chevrolet's full-size truck and SUV lineup within 24 months. They will go on sale in mid-2020 in North America. Apple unveiled a new feature for the Apple Card, enabling cardholders to buy a new iPhone in 24 monthly installments without paying interest. In October, during Apple's earnings call, CEO Tim Cook had announced the tech giant's plans to introduce this feature. The Apple Card, Apple's first credit card, was introduced by the tech giant in March in partnership with Goldman Sachs and Mastercard.
Follow RTT