BERLIN (dpa-AFX) - German sugar producer Suedzucker AG (SUEZF.PK) reported that its consolidated operating result for the second quarter declined to 62 million euros from the previous year's 128 million euros. The decline was mainly attributable to lower results in the sugar and CropEnergies segments.
But, quarterly consolidated group revenues were 1.734 billion euros up from 1.710 billion euros in the prior year.
On 20 September 2018 Südzucker published a revised forecast for the 2018/19 fiscal year. Consolidated group revenues are expected to reach 6.6 billion euros to 6.9 billion euros compared to the previous forecast of 6.8 billion euros to 7.1 billion euros.
The company projects group operating result of 25 million euros to 125 million euros, compared to the previous forecast of 100 million euros to 200 million euros.
The company noted that the main driver here continues to be the difficult market environment for sugar, sweeteners (starches) and ethanol. The outlook in the sugar segment is very uncertain in the difficult current market environment and as a result of the drought in Südzucker's main cultivation regions.
Copyright RTT News/dpa-AFX