1Yr
@Kai2000
Südzucker - Volatile prices Südzucker started the 2023/24 financial year better than expected. In Q1 (as of May 31), the sugar producer was able to increase revenues by about 11% to EUR 2.5 billion, while EBIT even rose by 73% to EUR 282 million. CEO Niels Poerksen also raised the forecast for the financial year and now expects EBIT of EUR 850 to 950 million (previously: 725 to 875 million). Group revenue is expected to remain unchanged at 10.4 to 10.9 billion euros (FY 2022/23: 9.5 billion). The sugar segment in particular is sweetening the business: here, Q1 sales rose by 27% to 924 million euros, while EBIT landed at 169 million euros (Q1 2022: 1 million). The SDAX-listed group defied declining volumes caused by the poor 2022 harvest and drastically increased raw material and energy costs. The positive effects of higher prices had a much stronger impact. The trend in the special products and fruit segments is also friendly, while CropEnergies and the starch segment are struggling with high raw material costs. The sugar market is traditionally volatile, and the current high price level is unlikely to last.
Südzucker - Volatile prices Südzucker started the 2023/24 financial year better than expected. In Q1 (as of May 31), the sugar producer was able to increase revenues by about 11% to EUR 2.5 billion, while EBIT even rose by 73% to EUR 282 million. CEO Niels Poerksen also raised the forecast for the financial year and now expects EBIT of EUR 850 to 950 million (previously: 725 to 875 million). Group revenue is expected to remain unchanged at 10.4 to 10.9 billion euros (FY 2022/23: 9.5 billion). The sugar segment in particular is sweetening the business: here, Q1 sales rose by 27% to 924 million euros, while EBIT landed at 169 million euros (Q1 2022: 1 million). The SDAX-listed group defied declining volumes caused by the poor 2022 harvest and drastically increased raw material and energy costs. The positive effects of higher prices had a much stronger impact. The trend in the special products and fruit segments is also friendly, while CropEnergies and the starch segment are struggling with high raw material costs. The sugar market is traditionally volatile, and the current high price level is unlikely to last.
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@Smudeo have never dealt with the sugar business before, but would have thought that higher margins could be achieved there.
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