BERLIN (dpa-AFX) - Südzucker AG (SUEZF.PK), a German sugar producer, on Wednesday reported a surge in operating result for the first-half that reflects an increase operating earnings from CropEnergies, Sugar, and Starch segments.
In addition, for the fiscal 2022-23, the Group has reaffirmed its operating result, EBITDA forecast, and it also revised up revenue outlook.
For the six-month period, Mannheim-headquartered firm's consolidated operating result more than doubled to 316 million euros, compared with 134 million euros of last year.
The Group's EBITDA also moved up significantly to 465 million euros from 278 million euros, reported for the same period of last fiscal.
Südzucker generated revenues of 4.624 billion euros, higher than last year's 3.596 billion euros, reported for the first-half of 2021-22.
The operating result from the sugar segment was at 16 million euros as against a loss of 18 million euros, reported for two-quarter period of previous fiscal.
The higher volume and sales revenues drove the operating result of CropEnergies segment to 180 million euros as against last year's 38 million euros.
The higher volume and sales revenues also pushed operating result of Starch segment to 50 million euros from 22 million euros, during the corresponding period of the previous year.
Looking ahead, for the full-year, the company still expects to report its consolidated operating result to be in the range of 450 million euros to 550 million euros.
Last year, the firm had registered an operating result of 332 million euros.
Südzucker continues to project its Group EBITDA of 810 million euros to 910 million euros against EBITDA of 692 million euros reported for the previous financial year.
For the fiscal 2022-23, the sugar producer now expects its consolidated revenues to be in the range of 9.4 billion euros to 9.8 billion euros against its previous forecast of 8.9 billion euros to 9.3 billion euros.
Last year, the Group had generated its consolidated revenues of 7.6 billion euros.
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