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Südzucker Q1 Preliminary Operating Result Rises

Südzucker AG reported that its first-quarter preliminary operating result significantly increased to 61 million euros from last year's 47 million euros.

Significant earnings improvements have been achieved in sugar and special products segments. Significantly lower earnings have been noted in CropEnergies and fruit segments, the company said.

Quarterly revenues declined to 1.669 billion euros from 1.680 billion euros in the prior year.

Looking ahead for fiscal year 2020/21, Südzucker still expects consolidated group revenues to be between 6.9 billion euros and 7.2 billion euros. Consolidated group operating result should come in between 300 million euros to 400 million euros. Due to the ongoing corona pandemic and related high volatility in all segments, this outlook is still affected by a very high uncertainty.

The company said it will publish full report for the first quarter 2020/21 on 9 July 2020.

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