Südzucker expects significant year-on-year earnings growth also in the second quarter

Following a continued positive development, Südzucker AG expects group EBITDA and group operating result in the second quarter of fiscal 2022/23 (1 June to 31 August 2022) to be significantly higher than the previous year's level (Q2 2021/22: EBITDA: EUR 157 million; operating result: EUR 85 million). The improvement in group EBITDA and group operating result is largely driven by the CropEnergies segment.

The forecast for the full 2022/23 financial year is confirmed. Südzucker expects group revenues of EUR 8.9 to 9.3 (2021/22: 7.6) billion. Group EBITDA is expected to be in a range between EUR 760 and 860 (2021/22: 692) million and group operating result in a range between EUR 400 and 500 (2021/22: 332) million.

The war in Ukraine, which has been ongoing since the beginning of fiscal year 2022/23, has further intensified the already high volatility on the sales markets and price increases on the procurement markets. The resulting economic and financial impact and the duration of this temporary exceptional situation remain difficult to assess. Risks also continue to exist in connection with the Corona pandemic.

The forecast continues to be based on the assumptions that the Ukraine war will remain temporary and regionally limited, that despite current developments the physical supply of energy and raw materials will be guaranteed, and that sales and procurement markets will return to normal to some extent in fiscal 2022/23. We also assume that the declaration of the emergency gas plan in Germany will not have any significant negative impact on prices. We expect the significant price increases, particularly in the raw materials and energy sectors, to be passed on in new customer contracts.

The quarterly report for the second quarter of fiscal year 2022/23 will be published on 13 October 2022.

Mannheim, 13 July 2022 / 13:10 CET/CEST