Europe's largest sugar group Südzucker sees, despite all the turbulence in the Corona-crisis on course to a strong jump in earnings. In the first quarter (by the end of may) for the business year 2020/21, the operating profit improved to 61 (previous year: 47) million euros, although sales 1.67 (1,68) stagnated billion euros as the group announced on Thursday in Mannheim. In the sugar business of Südzucker held thanks to price increases, the loss in the borders, despite the lower demand from the sugar processing industry as a result of the Store and restaurant closures to contain the risk of Contagion, the positive effects of hamster purchases quickly superimposed.
in the meantime, the largest division specialities the Corona showed crisis opposing effects, the anschoben but the bottom line is sales and operating profit. While the demand for frozen pizza and dietary fiber while the output restrictions rose sharply, broke through the sales of pre-packaged serving of articles for the gastronomy. In the case of the subsidiary CropEnergies lower demand for power fell substances more weight than the growth in Ethanol for disinfectant.
the forecast for the financial year Südzucker: sales are expected to rise to 6.9 to 7.2 (6,7) billion euros, driven firmly holds especially of the sugar division. The operating profit are expected to increase as a result of the recovery in sugar prices on 300 to 400 (116) million euros, – if, as a result of the Corona pandemic, nothing in between.
Date Of Update: 09 July 2020, 11:19
