Südzucker expects significant earnings increase in the first quarter 2022/23

Positive initial outlook for full fiscal 2022/23 despite Ukraine war

After a very positive start to fiscal 2022/23, Südzucker AG expects EBITDA and operating result for the first quarter of fiscal 2022/23 (1 March to 31 May 2022) to be significantly higher than last year's levels (Q1 2021/22: EBITDA: EUR 121 million; operating result: EUR 49 million).

For fiscal 2022/23 as a whole, Südzucker expects group revenues of EUR 8.7 to 9.1 (2021/22: 7.6) billion. We see EBITDA in a range of EUR 660 to 760 (2021/22: 692) million and consolidated operating result in a range of EUR 300 to 400 (2021/22: 332) million.

The war in Ukraine, which has been ongoing since the beginning of the 2022/23 financial year, has further intensified the already high volatility on the sales markets and price increases on the procurement markets. The resulting economic and financial impact and the duration of this temporary exceptional situation, in addition to the Corona pandemic, are difficult to assess. In addition, the risks associated with the Corona pandemic continue to exist.

The forecast for the first quarter and the full year is based on the assumption that the Ukraine war will remain temporary and regionally limited, that the physical supply of energy and raw materials is guaranteed and that the sales and procurement markets will partially normalize during fiscal 2022/23. In this context, Südzucker's expected transfer of the significantly higher prices, especially in the raw material and energy sectors, into new customer contracts will be of decisive importance.

The annual report for fiscal 2021/22 - including detailed forecast for fiscal 2022/23 - will be published on 19 May 2022, and the quarterly report for the first quarter of fiscal 2022/23 on 7 July 2022.

Mannheim, 14 April 2022 / 14:05  CET/CEST