Südzucker expects significant year-on-year earnings growth also in the second quarter

Following a continued positive development, Südzucker AG expects group EBITDA and group operating result in the second quarter of fiscal 2023/24 (1 June to 31 August 2023) to be significantly higher than the previous year's level (Q2 2022/23: EBITDA: EUR 230 million; operating result: EUR 153 million). The improvement in group EBITDA and group operating result is largely driven by the sugar segment.

The forecast for the full 2023/24 financial year is confirmed. Südzucker expects group revenues of EUR 10.4 to 10.9 (2022/23: 9.5) billion. Group EBITDA is expected to be in a range between EUR 1.2 and 1.4 (2022/23: 1.1) billion and group operating result in a range between EUR 850 and 950 (2022/23: 704) million.

The Ukraine war, which has continued from the start of fiscal year 2022/23 to the present day, has generally intensified the already existing high volatility in the target markets and price in-creases in the procurement markets, particularly in the raw materials and energy sectors. De-spite currently lower volatility, the economic and financial ramifications, the security of supply and the duration of this temporary exceptional situation - with a view to the full 2023/24 fiscal year - remain difficult to assess.

The figures for the second quarter will be published with the half-year financial report 2023/24 on 12 October 2023.

Mannheim, 12 July 2023, 18:00 CEST/CET