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Südzucker: not possible to assess impact of coronavirus pandemic

April 22, 2020 at 11:37 AM , Der AUDITOR
Europe's leading sugar producer employed 19,200 people in 2019/2020. @Südzucker AG
Europe's leading sugar producer employed 19,200 people in 2019/2020. @Südzucker AG
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MANNHEIM. In the preliminary figures for the 2019/2020 financial year, which ended on 29 February, the Südzucker AG states that group revenues declined to EUR 6.7 billion. By contrast, a drastic rise in the group operating result to EUR 116 million has been observed.

Impact of coronavirus pandemic is unforeseeable

According to Südzucker’s recently issued press release, the rise is mainly attributed to the CropEnergies and special products segments. Providing that the supervisory board agrees, the executive board will propose an unaltered dividend of EUR 0.20 per share for 2019/2020 at the annual general meeting, which is to go virtual on 16 July. Europe’s sugar giant further states that the economic and financial impact of the coronavirus pandemic cannot be considered in the outlook for fiscal 2020/2021 as the effects are simply unforeseeable at present. Group revenues are currently expected to range at EUR 6.9-7.2 million and the group operating result at EUR 300-400 million, an increase which should be driven by improved results in the sugar segment. A detailed report for fiscal 2019/2020 is to be issued in 14 May.

19,200 strong workforce

The Südzucker Group is Europe’s leading supplier for sugar products. As many as 23 factories and two refineries were operating throughout Germany and Austria, Poland, and the Czech Republic, Slovakia and Romania, Hungary, Bosnia and Moldova. The special products segment comprises functional food ingredients for food and animal feed and chilled and frozen products, starch and portion packs divisions. Bioethanol activities are implemented throughout Germany, Belgium and France and the UK in the CropEnergies segment. The fruit segment operates internationally and is the global market leader for fruit preparations and most important supplier of fruit juice concentrates in Europe. Südzucker emloyed around 19,200 people 2019/2020.

Südzucker Press Release 22 April 2020

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