Suedzucker Posts Loss In Q3, Revenue Drops
Net loss attributable to shareholders was 9 million euros ($10.6 million), as against a profit of 111 million euros in the prior year. Revenues dropped 9.4 percent to 1.75 billion euros from the prior year's 1.93 billion euros.
In the Sugar business, revenue dropped 18 percent to 838 million euros, amid falling quota sugar and non-quota sugar export sales revenues. Revenue edged up 0.5 percent to 450 million euros in the Special products Segment, while it declined for the 9-month period.
In CropEnergies, revenues climbed nearly 10 percent to 204 million euros. The fruit segment reported revenues of 260 million euros, down 6.8 percent from last year.
Looking ahead, the company's outlook for the current fiscal year remained unchanged. Consolidated group sales revenues are still projected to be around 7.0 billion euros, compared to last year's 7.5 billion euros. Operating profit is estimated to drop sharply to about 200 million euros from the prior year's 622 million euros.
However, the company noted that based on business performance to date, achieving this forecast continues to be a challenge. The stock fell 3.8 percent on Monday at 11.16 euros. (dpa)
Most read news
Other news from the department business & finance
Get the food & beverage industry in your inbox
By submitting this form you agree that LUMITOS AG will send you the newsletter(s) selected above by email. Your data will not be passed on to third parties. Your data will be stored and processed in accordance with our data protection regulations. LUMITOS may contact you by email for the purpose of advertising or market and opinion surveys. You can revoke your consent at any time without giving reasons to LUMITOS AG, Ernst-Augustin-Str. 2, 12489 Berlin, Germany or by e-mail at revoke@lumitos.com with effect for the future. In addition, each email contains a link to unsubscribe from the corresponding newsletter.