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  14/01/2020 | Industry

Südzucker reports strong third quarter in fiscal 2019/20

In the first three quarters (1 March to 30 November 2019) of the current 2019/20 fiscal year, Südzucker AG posted group consolidated revenues of € 5.028 (previous year: 5.192) bn. 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. Group EBITDA rose from € 373 (previous year: 345) m due to the first-time application of IFRS 16 on 1 March 2019 and the associated recognition and depreciation of leases already recognized in other operating expenses for accounting purposes.

After nine months group operating result was comparable to last year’s level at € 113 (previous year: 116) m. Although the sugar segment reported losses as expected, the third quarter was significantly better than the same period during the previous year. While the decline in results continued in the fruit segment, the increase in results was again stronger in the special products and CropEnergies segments.