Südzucker : Annual Report 2020/21

Annual Report

2020/21

Südzucker AG

Contents

04 TO OUR SHAREHOLDERS

1. Letter from the executive board

1. Executive board

1. Supervisory board
2. Report of the supervisory Board

1. Südzucker shares and capital market

1. CONSOLIDATED MANAGEMENT REPORT
2. About the Group

22 Group structure

1. Group management
2. Business model
3. Group strategy

1. Sustainability

1. Environment

1. Employees

1. Society

1. Research and development

1. Business report

57 Overall summary of business development

57 Overall economic situation and framework

59 Group consolidated earnings

1. Group financial position
2. Group assets

64 Value added, capital structure and dividend

66 Sugar segment

73 Special products segment

77 CropEnergies segment

80 Fruit segment

1. Actual and forecast business performance

1. Outlook

1. Risk and opportunity report

1. Risk management
2. Summary of the risk and opportunity situation
3. Summary of short-term opportunities and risks

93 Summary of medium to long-term opportunities and risks

95 Internal control and risk management system as it applies to accounting systems

97 Corporate governance and responsibility

97 Supervisory board and executive board operating procedures

100 Corporate governance report

1. Compliance
2. Disclosures on takeovers

105 Non-financial statement

1. CONSOLIDATED FINANCIAL STATEMENTS
2. Statement of comprehensive income

1. Cash flow statement

1. Balance sheet

1. Statement of changes in shareholders' equity

1. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

1. Segment report

1. General explanatory notes

122 (01) Principles of preparation of the consolidated financial statements

1. (02) Companies included in consolidation
2. (03) Consolidation methods
3. (04) Foreign currency translation

129 (05) Accounting policies

1. Notes to the statement of comprehensive income

1. (06) Revenues
2. (07) Change in work in progress and finished

goods inventories and internal costs capitalized

1. (08) Other operating income
2. (09) Cost of materials

1. (10) Personnel expenses
2. (11) Depreciation
3. (12) Other operating expenses

1. (13) Result from companies consolidated at equity
2. (14) Result from operations

1. (15) Financial income and expense
2. (16) Taxes on income

1. (17) Research and development costs

1. (18) Earnings per share

1. (19) Other comprehensive income
2. Notes to the cash flow statement

1. (20) Cash flow statement

1. Notes to the balance sheet

1. (21) Intangible assets

1. (22) Property, plant and equipment (including leasing)

1. (23) Shares in companies consolidated at equity, other investments

1. (24) Inventories
2. (25) Trade receivables and other assets
3. (26) Shareholders' equity

1. (27) Provisions for pensions and similar obligations

1. (28) Other provisions

1. (29) Trade payables and other liabilities

170 (30) Financial liabilities, securities and cash and cash equivalents (net financial debt)

174 Other explanatory notes

1. (31) Risk management within Südzucker Group

1. (32) Additional disclosures on financial instruments

1. (33) Contingent liabilities and other financial commitments

1. (34) Fees for services by the group's external auditors
2. (35) Declarations of compliance per section 161 AktG

1. (36) Related parties

1. (37) Supervisory board and executive board

192 (38) List of shareholdings in accordance with section 313 (2) HGB

1. (39) Proposed appropriation of earnings

1. (40) Events after the balance sheet date
2. RESPONSIBILITY STATEMENT
3. INDEPENDENT AUDITOR'S REPORT

1. ADDITIONAL INFORMATION
2. Global Reporting Initiative

1. Assurance about the non-financial statement

1. Contacts

	Annual Report 2020/21
	1 March 2020 - 28 February 2021
CONTENTS	published on 20 May 2021

On this report

The annual report is also available in German. This translation is provided for convenience only and should not be relied upon exclusively. The German version of the annual report is definitive and takes precedence over this translation. The annual report (in German and English) and the Südzucker AG financial statements can be downloaded as a PDF file from Südzucker's web- site at www.suedzucker.de.

Südzucker AG's fiscal year is not aligned with the calendar year. It covers the period from 1 March to 28/29 February. The numbers in parentheses in the report represent the corresponding prior year's figures or item. Numbers and percentages stated are subject to differences due to rounding.

Financial calendar

Q1 - Quarterly statement 1st quarter 2021/22 Annual general meeting Fiscal 2020/21

Q2 - Half year financial report 1st half year 2021/22 Q3 - Quarterly statement 1st to 3rd quarter 2021/22 Press and analysts' conference Fiscal 2021/22

Q1 - Quarterly statement 1st quarter 2022/23 Annual general meeting Fiscal 2021/22

8 July 2021

15 July 2021

14 October 2021

13 January 2022

19 May 2022

7 July 2022

14 July 2022

Published by: Südzucker AG Maximilianstraße 10 68165 Mannheim, Germany Phone: [phone]

O V E R V I E W 2 0 2 0 / 2 1

Südzucker Group

P. 59

€ 6,679 [6.671] million	€ 285 [335] million
C O N S O L I D A T E D	I N V E S T M E N T S I N F I X E D
G R O U P R E V E N U E S	A S S E T S

Sugar segment

P. 66

€ 2,252 [2,258] million

R E V E N U E S

€ - 121 [- 236] million

€ 236 [116] million

G R O U P C O N S O L I D A T E D O P E R A T I N G R E S U L T

• 475 [372] million
  C A S H F L O W
• 300 [348] million

I N V E S T M E N T S , thereof

O U T L O O K 2 0 2 1 / 2 2

3.8 [1.8] %

R O C E

€ 6.2 [6.4] Mrd.

C A P I T A L E M P L O Y E D

1,511 [1,570] million

N E T F I N A N C I A L D E B T

17,876 [19,188]

E M P L O Y E E S

O P E R A T I N G

R E S U L T

• 2,685 [2,815] million
  C A P I T A L E M P L O Y E D

• 4.5 [-8.4] %
  R O C E

E U R O P E A N

M A R K E T L E A D E R

24.1 million tonnes

€ 7.0 to 7.2 billion	CAPITAL EMPLOYED at previous
year´s level and significant increase
C O N S O L I D A T E D G R O U P	of R O C E expected.
R E V E N U E S expected
€ 300 to 400 million
G R O U P C O N S O L I D A T E D
O P E R A T I N G R E S U L T expected

L O C A T I O N S

over 100

P R O D U C T I O N L O C A T I O N S

in 32 countries

B E E T S P R O C E S S E D

3.7 million tonnes

S U G A R P R O D U C E D

(incl. raw sugar refining)

23

S U G A R

F A C T O R I E S

7	Germany	2	Austria
2 Belgium	1 Romania
2	France	1	Slovakia
4	Poland	2	Czech Republic
1 Moldova	1 Hungary

2

R E F I N E R I E S

• Bosnia-Herzegovina
• Romania

Südzucker Group worldwide

O V E R V I E W 2 0 2 0 / 2 1

Special products segment		CropEnergies segment		Fruit segment
		P. 73				P. 77				P. 80

€	2,487 [2,409] million	€	774 [819] million	€	1,166 [1,185] million
R E V E N U E S	R E V E N U E S	R E V E N U E S
€	197 [190] million	€	107 [104] million	€	53 [58] million

O P E R A T I N G R E S U L T

O P E R A T I N G R E S U L T

O P E R A T I N G R E S U L T

€ 2,242 [2,267] million		€ 465 [450] million	€ 829 [855] million
C A P I T A L E M P L O Y E D		C A P I T A L E M P L O Y E D	C A P I T A L E M P L O Y E D
8.8 [8.4] %	23.0 [23.1] %	6.4 [6,8] %
R O C E		R O C E	R O C E

Functional ingredients for food, animal feed, non-food and pharmaceuticals

Frozen and chilled pizza as well as frozen pasta dishes and snacks

Starch for food and non-food ­sectors as well as ethanol

Portion packs

Leading European manufacturer of sustainably produced ethanol, predominantly for the fuel sector

A N N U A L P R O D U C T I O N

C A P A C I T Y :

1.2 million m³

E T H A N O L

Factory for production of food carbon dioxide

World market leader in fruit preparations for international food companies

(e. g. dairy, ice cream and baked goods industries) and leading producer of fruit juice concentrates in Europe

29

P R O D U C T I O N­ L O C A T I O N S

1. Germany

1. Belgium

1. Italy
2. Netherlands

1. Austria

1. Romania

1. Spain

1 South Afrika

1 Czech Republic

1. Hungary

1. UK

1. Chile

1. USA

4

P R O D U C T I O N­ L O C A T I O N S

1. Germany

1. Belgium

1. France

1. UK

41

P R O D U C T I O N

L O C A T I O N S

2	Austria	1 Algeria
2	Germany	1 Argentina
2	France	1	Australia
1	Brazil
7	Poland
3	China
1 Romania
1	India
1	Russia
1 Morocco
1	Turkey
1	Mexico
3	Ukraine
1	South Africa
5 Hungary
1	South Korea
1	Egypt
4	United States