DGAP-Ad-hoc: Südzucker AG / Key word(s): Quarter Results/Forecast
Insider information publication according to section 17 MAR
Südzucker concretises earnings forecast following strong third quarter 2019/20
In the third quarter (1 September to 30 November 2019) of current fiscal year 2019/20, Südzucker AG reached consolidated group revenues of EUR 1,713 (previous year: 1,717) million. The consolidated group operating result significantly increased to EUR 39 (previous year: -23) million. Significant earnings improvements have been achieved in segments sugar, special products and CropEnergies, whilst segment fruit came in with a significant decrease.
In the first nine months (1 March to 30 November 2019) consolidated group revenues reached EUR 5,028 (previous year: 5,192) million. Now, consolidated group operating result achieved in the same period almost previous year's level with EUR 113 (previous year: 116) million.
Against this background Südzucker concretises the full year group forecast. Südzucker still expects for fiscal year 2019/20 consolidated group revenues between EUR 6.7 to 7.0 (previous year: 6.8) billion, but now assumes consolidated group operating result to reach between EUR 70 to 130 (previous forecast: 50 to 130; previous year: 27) million and EBITDA between EUR 430 to 490 (previous forecast: 410 to 490; previous year: 353) million.
Südzucker still expects the sugar segment to post an operating loss between EUR -200 to -260 (previous year: -239) million. Now, we expect the special products segment to show a significant earnings increase (previous forecast: moderate increase; previous year: EUR 156 million). The CropEnergies segment should reach an operating result of approximately EUR 100 (previous forecast: 70 to 90; previous year: 33) million. Main reason for the improvement are continued significantly higher sales revenues for renewable ethanol. In the fruit segment we still expect a significant earnings decline (previous year: EUR 77 million).
The report for the third quarter 2019/20 will be published on 14 January 2020.
18-Dec-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Phone:||+49 (0)621 - 421-530|
|Fax:||+49 (0)621 - 421-7530|
|ISIN:||DE0007297004, XS0606202454, DE000A1AJLE6, XS0222524372|
|WKN:||729700, A1GNRQ, A1AJLE, A0E6FU,|
|Listed:||Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Munich, Stuttgart; Regulated Unofficial Market in Hanover, Tradegate Exchange|
|EQS News ID:||939049|
|End of Announcement||DGAP News Service|
939049 18-Dec-2019 CET/CEST