Südzucker specifies outlook for financial year 2015/16

20-Nov-2015 - Germany

Südzucker AG specifies its outlook for financial year 2015/16 on back of the further positive development notably of bioethanol prices also beyond the 2nd quarter and expecting a 3rd quarter group operating result significantly above prior year. Südzucker now projects group revenues at EUR 6.3 to 6.5 (previous year: 6.8) billion. For the group operating result Südzucker now forecasts a range of EUR 200 to 240 (previous year: 181) million.

For the sugar segment Südzucker expects the operating result to decline significantly to a range of EUR –80 to -60 (previous year: 7) million.

For the special products segment Südzucker specifies the forecast for operating profit at around EUR 145 (previous year: 120) million following the positive development in the current financial year. Apart from higher ethanol prices Südzucker assumes the new wheat starch plant at site Zeitz to begin operation not until start of financial year 2016/17. The related operating ramp-up losses will not occur until start of financial year 2016/17.

Within the CropEnergies segment Südzucker now expects the operating result to come in between EUR 70 to 90 (previous year: -11) million following the beneficial ethanol price development to date. Any confirmation of this operating result level in financial year 2016/17 will provide a significant challenge for CropEnergies in light of actual forward prices for bioethanol.

For the fruit segment Südzucker projects to repeat the solid operating result of the prior finan-cial year which was EUR 65 million.The interim report for the 1st to 3rd quarter 2015/16 will be published on 13 January 2016.

https://www.yumda.com/en/news/1146590/suedzucker-specifies-outlook-for-financial-year-2015-16.html