Q1 Quarterly Statement
First quarter 2022/23
1 March to 31 May 2022
Consolidated group revenues
€ 2,275
[1,753] million
Consolidated group operating result
€ 163
[49] million
EBITDA
€ 236
[121] million
F U L L- Y E A R F I S C A L
2 0 2 2 / 2 3 F O R E C A S T
S I G N I F I C A N T LY I N C R E A S E D O N 1 5 J U N E 2 0 2 2
Consolidated group revenues of
€ 8.9 to 9.3
[2021/22: 7.6] billion
Consolidated
operating result of
€ 400 to 500
[2021/22: 332] million
EBITDA
- 760 to 860
[2021/22: 692] million
CONTENTS | OVERVIEW | |
Overview | |
First quarter 2022/23 | |
Full-year fiscal 2022/23 forecast | |
Group figures as of 31 May 2022 | 1 |
Economic report | 2 |
Group results of operations | 2 |
Group financial position | 4 |
Group asstes | 6 |
Employees | 7 |
Sugar segment | 8 |
Special products segment | 11 |
CropEnergies segment | 12 |
Starch segment | 14 |
Fruit segment | 16 |
Outlook | 18 |
FINANCIAL CALENDAR
Annual general meeting
Fiscal 2021/22
14 July 2022
Q 2 - Half year financial report
1st half year report 2022/23
13 October 2022
Q 3 - Quarterly statement
1st to 3rd quarter 2022/23
12 January 2023
Press and analysts' conference
Fiscal 2022/23
25 May 2023
Q 1 - Quarterly statement
1st quarter 2023/24
6 July 2023
Annual general meeting
Fiscal 2022/23
13 July 2023
Q 2 - Half year financial report
1st half year 2023/24
12 October 2023
First quarter 2022/23
Revenues by segment
1st quarter | ||||||
€ million | 2022/23 | 2021/22 | + / - in % | |||
Sugar | 727 | 595 | 22.3 | |||
Special products | 515 | 421 | 22.3 | |||
CropEnergies | 377 | 195 | 93.6 | |||
Starch | 295 | 221 | 33.1 | |||
Fruit | 361 | 321 | 12.5 | |||
Group total | 2,275 | 1,753 | 29.8 | |||
TABLE 01
Operating result by segment
1st quarter | ||||||
€ million | 2022/23 | 2021/22 | + / - in % | |||
Sugar | 1 | - 25 | - | |||
Special products | 30 | 34 | - 11.4 | |||
CropEnergies | 87 | 15 | > 100 | |||
Starch | 25 | 9 | > 100 | |||
Fruit | 20 | 16 | 25.2 | |||
Group total | 163 | 49 | > 100 | |||
TABLE 02
Full-year fiscal 2022/23 forecast significantly increased
-
Consolidated group revenues expected between
€ 8.9 and 9.3 (previous forecast: between 8.7 and 9.1; - 2021/22: 7.6) billion.
Consolidated group operating result expected to range between € 400 and 500 (previous forecast: between - € 300 and 400; 2021/22: 332) million.
EBITDA expected to range between € 760 and 860 (previous forecast: between 660 and 760; 2021/22: - 692) million.
Capital employed moderately above last year's level; significant increase in ROCE (2021/22: 5.3 %) expected.
OVERVIEW
Group figures as of 31 May 2022
Revenues and earnings
Revenues | € million |
EBITDA | € million |
EBITDA margin | % |
Depreciation | € million |
Operating result | € million |
Operating margin | % |
Net earnings | € million |
Cash flow and investments | |
Cash flow | € million |
Investments in fixed assets 1 | € million |
Investments in financial assets / acquisitions | € million |
Total investments | € million |
Performance | |
Fixed assets 1 | € million |
Goodwill | € million |
Working capital | € million |
Capital employed | € million |
Capital structure | |
Total assets | € million |
Shareholders' equity | € million |
Net financial debt | € million |
Equity ratio | % |
Net financial debt as % of equity (gearing) | % |
Shares | |
Market capitalization on 31 May | € million |
Closing price on 31 May | € |
Earnings per share on 31 May | € |
Average trading volume / day | thousands of shares |
Performance Südzucker share 1 March to 31 May | % |
Performance SDAX® 1 March to 31 May | % |
Employees | |
1 Including intangible assets.
1st quarter | ||||
2022/23 | 2021/22 | + / - in % | ||
2,275 | 1,753 | 29.8 | |||
236 | 121 | 95.1 | |||
10.4 | 6.9 | ||||
- 73 | - 72 | 1.0 | |||
163 | 49 | > 100 | |||
7.2 | 2.8 | ||||
132 | 28 | > 100 | |||
183 | 96 | 91.2 | |||
65 | 55 | 17.5 | |||
49 | 5 | > 100 | |||
114 | 60 | 89.0 | |||
3,237 | 3,196 | 1.3 | |||
756 | 720 | 5.0 | |||
2,343 | 2,148 | 9.1 | |||
6,423 | 6,177 | 4.0 | |||
8,511 | 7,827 | 8.7 | |||
4,068 | 3,578 | 13.7 | |||
1,358 | 1,425 | - 4.7 | |||
47.8 | 45.7 | ||||
33.4 | 39.8 | ||||
2,531 | 2,799 | - 9.6 | |||
12.40 | 13.71 | - 9.6 | |||
0.43 | 0.07 | > 100 | |||
604 | 654 | - 7.6 | |||
1.6 | 5.2 | ||||
- 4.7 | 7.9 | ||||
18,819 | 18,380 | 2.4 | |||
TABLE 03
SÜDZUCKER AGQUARTERLY STATEMENT Q1 2022/23
2 Economic report
ECONOMIC REPORT
Group results of operations
Revenues, EBITDA and operating result
Consolidated revenues were up by around 30 % to € 2,275 (1,753) million. All segments contributed to this increase.
Result from companies consolidated at equity
The result from companies consolidated at equity was generated almost exclusively by the sugar and starch segments and amounted to € 17 (- 2) million.
Group EBITDA rose by € 115 million to € 236 (121) million.
The consolidated group operating result also improved significantly, reaching € 163 (49) million. The special products segment's operating result fell sharply, but all other segments contributed to the significant increase.
Financial result
The financial result for the first three months of € - 12(- 10) million includes net interest result of € - 8(- 8) million as well as a result from other financing activities of € - 4(- 2) million.
Taxes on income
Earnings before taxes were reported at € 170 (37) million and taxes on income totaled € - 38(- 9) million.
Result from operations
Result from operations of € 182 (47) million comprises an operating result of € 163 (49) million, the result from restructuring and special items of € 2 (0) million and the earnings contribution from companies consolidated at equity of € 17 (- 2) million.
Business performance - Group
1st quarter | |||||||
2022/23 | 2021/22 | + / - in % | |||||
Revenues | € million | 2,275 | 1,753 | 29.8 | |||
EBITDA | € million | 236 | 121 | 95.1 | |||
Depreciation on fixed assets and intangible assets | € million | - 73 | - 72 | 1.0 | |||
Operating result | € million | 163 | 49 | > 100 | |||
Result from restructuring / special items | € million | 2 | 0 | > 100 | |||
Result from companies consolidated at equity | € million | 17 | - 2 | - | |||
Result from operations | € million | 182 | 47 | > 100 | |||
EBITDA margin | % | 10.4 | 6.9 | ||||
Operating margin | % | 7.2 | 2.8 | ||||
Investments in fixed assets 1 | € million | 65 | 55 | 17.5 | |||
Investments in financial assets / acquisitions | € million | 49 | 5 | > 100 | |||
Total investments | € million | 114 | 60 | 89.0 | |||
Shares in companies consolidated at equity | € million | 79 | 136 | - 41.6 | |||
Capital employed | € million | 6,423 | 6,177 | 4.0 | |||
Employees | 18,819 | 18,380 | 2.4 | ||||
1 Including intangible assets.
TABLE 04
SÜDZUCKER AGQUARTERLY STATEMENT Q1 2022/23
Economic report | 3 | |
Consolidated net earnings | Earnings per share |
Of the consolidated net earnings of € 132 (28) million, € 87
- million were allocated to Südzucker AG shareholders, € 3 (3) million to hybrid equity and € 42 (10) million to other non-controlling interests, mainly the co-owners of AGRANA Group and CropEnergies Group.
Earnings per share came in at € 0.43 (0.07). The calculation was based on the time-weighted average of 204.1 (204.2) million shares outstanding.
Income statement
1st quarter | ||||||
€ million | 2022/23 | 2021/22 | + / - in % | |||
Revenues | 2,275 | 1,753 | 29.8 | |||
Operating result | 163 | 49 | > 100 | |||
Result from restructuring / special items | 2 | 0 | > 100 | |||
Result from companies consolidated at equity | 17 | - 2 | - | |||
Result from operations | 182 | 47 | > 100 | |||
Financial result | - 12 | - 10 | 20.0 | |||
Earnings before income taxes | 170 | 37 | > 100 | |||
Taxes on income | - 38 | - 9 | > 100 | |||
Net earnings | 132 | 28 | > 100 | |||
of which attributable to Südzucker AG shareholders | 87 | 15 | > 100 | |||
of which attributable to hybrid capital | 3 | 3 | 3.3 | |||
of which attributable to other non-controlling interests | 42 | 10 | > 100 | |||
Earnings per share (€) | 0.43 | 0.07 | > 100 | |||
TABLE 05
SÜDZUCKER AGQUARTERLY STATEMENT Q1 2022/23
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Südzucker AG published this content on 07 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 July 2022 05:43:03 UTC.