Südzucker third quarter earnings significantly above previous year Full-year forecast 2021/22 once again confirmed and specified

In the first nine months of current fiscal year 2021/22 (1 March to 30 November 2021), consolidated group revenues reached about EUR 5.64 (previous year: 5.09) billion. Due to the good development in the third quarter, first nine months cumulated consolidated group operating result came in significantly above previous year’s level reaching about EUR 260 (previous year: 195) million.

Against the background of an overall positive business development, we confirm again the initial group forecast dated 20 May 2021, stating a significant earnings improvement. For the group, we are specifying the forecast and now expect revenues between EUR 7.3 and 7.5 (previous forecast: 7.1 to 7.3; previous year: 6.7) billion. The consolidated group operating result is expected to improve significantly and to come in between EUR 320 and 380 (previous forecast: 300 to 400; previous year: 236) million.

Due to the unexpectedly intensified effects of the coronavirus pandemic – fourth wave in combination with the occurrence of the new Omicron variant – and the associated possible burdens, there are also risks in connection with the pandemic in the fourth quarter of the financial year 2021/22 and possibly beyond, the economic and financial effects and duration of which are still difficult to estimate. In addition, we continue to see very high volatility on the sales markets and price increases on the procurement markets across many divisions.

The full report for the first nine months 2021/22 will be published on 13 January 2022.