BERLIN (dpa-AFX) - German sugar producer Suedzucker AG (SUEZF.PK) Thursday reported that its first-quarter consolidated group operating result fell to 49 million euros from previous year's 61 million euros.
Group EBITDA was 121 million euros, lower than last year's 134 million euros.
Südzucker's consolidated revenues increased moderately to 1.75 billion euros from previous year's 1.67 billion euros.
The special products segment's revenues declined moderately, but revenues grew moderately in the sugar and fruit segments and rose significantly in the CropEnergies and starch segments.
Südzucker will report on five segments for the first time at the beginning of fiscal 2021/22. The newly created starch segment will be reported separately for the first time.
Looking ahead, for fiscal 2022, the company continues to expect consolidated group operating result between 300 million euros and 400 million euros, compared to previous year's 236 million euros. The sugar segment's operating result is forecast to range between 0 and 100 million euros.
Consolidated group revenues is still expected to be 7 billion euros to 7.2 billion euros, higher than last year's 6.7 billion euros. A significant increase in revenues is anticipated in the sugar segment.
Copyright RTT News/dpa-AFX