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  10/01/2019 | Industry

Südzucker confirms full-year forecast

In the first three quarters (1 March to 30 November 2018) of the current fiscal year 2018/19, Südzucker AG reported slightly lower consolidated group revenues of € 5.192 (previous year: 5.302) bn. According to the company, 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.

As expected, the consolidated group operating result fell significantly to € 116 (previous year: 384) m. The decline was driven mainly by the sugar segment losses as of the third quarter. The CropEnergies segment’s operating result also dropped substantially, but in the third quarter at a slower pace than in the previous quarters. The special products and fruit segments’ operating results were slightly higher than last year.

Group consolidated revenues are expected between € 6.6 to 6.9 (previous year: 7.0) bn for total fiscal 2018/19. In the sugar segment, a sharp decline in revenues is anticipated. Revenues in the CropEnergies segment are expected to range between € 690 and 720 m. The special products segment’s revenues are expected to rise substantially and those in the fruit segment to increase moderately. Consolidated group operating result is expected within a range of € 25 to 125 (previous year: 445) m. 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. Results in the special products segment are expected to be at last year's level. In the fruit segment, a slight increase in operating results is anticipated.