14/12/2020 | Industry

Südzucker shows significant earnings improvement after nine months

According to preliminary figures, in the third quarter (1 September to 30 November 2020) of current business year 2020/21, Südzucker AG reached group revenues of € 1.740 bn (previous year: € 1.713 bn). The operating group result significantly increased – as expected – to € 66 m (previous year: € 39 m). According to the company, thereby negative effects from the anewed pan-European lockdown have already been observed since mid of October. The earnings improvement is mainly supported by sugar segment, whilst CropEnergies, special products and fruit segments in total come up to the high previous year’s level. In the first three quarters (1 March to 30 November 2020) group revenues came in at € 5.089 bn (previous year: 5.028 bn). The operating group result significantly increased to € 195 m (previous year: € 113 m).

In the overall view as well as against the background of the increasingly intensifying lockdown in Europe and the seasonal weak fourth quarter, now, for business year 2020/21, Südzucker expects group revenues of € 6.6 to 6.8 bn (previous year: € 6.7 bn). The operating group result, following € 116 m in previous year, is expected to improve significantly and to be now in a range of € 190 to 240 m.