Südzucker pays EUR 0.50 dividend and confirms guidance
On 17 July 2014, shareholders at the annual general meeting of Südzucker AG Mann-heim/Ochsenfurt voted in favor of the supervisory and executive boards' recommendation to pay a dividend of EUR 0.50 per share (previous year: 0.90). The decision reflects both last fiscal year's weaker earnings and the upcoming development of the company. Based on 204.2 (previous year: 204.2) million shares, the total dividend distribution will be EUR 102.1 (previous year: 183.8) million.
Südzucker continues to forecast that consolidated group revenues for the current fiscal 2014/15 year overall will decline to about EUR 7.0 (previous year: 7.5) billion and that operating profit will drop sharply, to about EUR 200 (previous year: 622) million. This guidance confirms the company's previously published expectations of increasing deterioration of the business environment in the European sugar and bioethanol markets. The forecast is driven by sharply lower profits in the sugar and CropEnergies segments. The special product segment's operating profits are also expected to be lower, while the fruit segment's earnings should be in the same range as last year.