Südzucker with first outlook for financial year 2018/19
Südzucker AG announces preliminary figures. In financial year 2017/18 (1 March 2017 to 28 February 2018) group revenues reached about EUR 7.0 (previous year: 6.5) billion. Group operating result increased in the same period to about EUR 440 (previous year: 426) million. The increase is caused as expected especially by segment sugar.
Conditional to a respective resolution by the supervisory board (expected 16 May 2018), an unchanged dividend of 0.45 Euro per share shall be recommended for financial year 2017/18 to the annual general meeting, taking place 19 July 2018.
Südzucker expects group revenues of EUR 6.8 to 7.1 billion for financial year 2018/19 and group operating result to decrease significantly to EUR 100 to 200 million. In this connection we expect an operating loss of EUR 100 to 200 million in sugar segment. This temporary development is mainly driven by the expected burden in light of changes in the EU sugar market as well as by the ongoing very weak world market environment reflecting a global production surplus. On the other hand we expect earnings improvements in special products and fruit segments. CropEnergies segment is expected to reach an operating result range of EUR 30 to 70 million.
Despite the current difficult framework for sugar, we expect an EBITDA level of EUR 420 to 520 million.
The full report for financial year 2017/18 will be published on 17 May 2018.