Südzucker with significant increase in operating EBITDA in Q1 2026/27

Südzucker AG’s group consolidated revenues fell moderately to EUR 2,058 (previous year: 2,153) million in the first three months of fiscal 2026/27 (1 March to 31 May 2026). Revenues declined significantly in the sugar segment, dropped moderately in the CropEnergies and starch segments and remained stable in the special products and fruit segments.

Group operating EBITDA rose significantly to EUR 135 (previous year: 96) million. The 
CropEnergies and starch segments improved significantly, the special products segment recorded a slight increase, while the fruit segment remained slightly below the prior-year level. The sugar segment saw a substantial reduction in its negative operating EBITDA.

Sugar segment with significant increase in operating EBITDA due to reduced costs

The sugar segment's revenues dropped significantly to EUR 629 (previous year: 704) million. This reduction was due to both lower sales volumes and further declining sugar prices. The negative operating EBITDA was able to be reduced to EUR –21 (previous year: –34) million. This significant improvement in results was achieved despite lower revenues, driven by a further reduction in production costs during the 2025 campaign.

Beet campaign 2026: Successful sowing 

Despite cool weather conditions, sowing progressed rapidly and was largely successful in most regions. Overall, sugar beet development was good to very good across most regions through early June. The yields, however, are largely determined by the future weather patterns and the effects of diseases.

Special products segment with slight increase in operating EBITDA 

Revenues in the special products segment remained stable at EUR 558 (previous year: 554) million. The impact of predominantly lower prices was offset by an overall increase in sales volumes. The operating EBITDA improved slightly to EUR 68 (previous year: 66) million. This was mainly driven by higher overall sales volumes and, to some extent, lower costs, which compensated for the predominantly lower prices.

CropEnergies segment with significant increase in operating EBITDA

Revenues in the CropEnergies segment declined moderately to EUR 195 (previous year: 206) million due to significantly lower sales volumes resulting from scheduled maintenance, despite higher prices for renewable ethanol. The operating EBITDA was significantly above the previous year at EUR 24 (previous year: 4) million; during the reporting period, significantly lower net raw material costs and significantly higher prices for renewable ethanol had a positive effect.

Starch segment with significant increase in operating EBITDA

The starch segment recorded a moderate decline in revenues to EUR 228 (previous year: 245) million. The deconsolidation of the revenues of the Romanian subsidiary AGFD TANDAREI SRL as of 1 June 2025 and its subsequent accounting using the equity method had a reducing effect on revenue growth. Higher prices for renewable ethanol were offset by price decreases for starch and sugar products as well as byproducts. At EUR 20 (previous year: 15) million, operating EBITDA was significantly higher than last year. This was driven by improved margins resulting from lower material costs and higher ethanol prices.

Fruit segment with stable revenues

The fruit segment's revenues of EUR 448 (previous year: 444) million remained stable compared with the previous year. Despite stable margins the operating EBITDA, however, slightly declined to EUR 44 (previous year: 45) million. 

Group forecast 2026/27 for operating EBITDA confirmed 

Consolidated group revenues in fiscal 2026/27 are now expected to be between EUR 8.1 and 8.5 (previous forecast: 8.0 to 8.4; 2025/26: 8.4) billion. Operating group EBITDA for fiscal year 2026/27 is still expected to be within a range of EUR 480 and 680 (2025/26: 535) million. With capital employed expected to remain stable, a significant increase in ROCE is forecast (2025/26: 2.7 percent).

Overall, it remains difficult to assess the economic and financial impact of the current geopolitical and global economic situation on the future business performance of the Südzucker Group.