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    SZU   DE0007297004

SÜDZUCKER AG

(SZU)
  Report
Real-time Estimate Quote. Real-time Estimate Tradegate - 09/17 09:32:42 am
14.525 EUR   +1.93%
09/16SUEDZUCKER : Goldman Sachs remains Neutral
MD
09/16SUEDZUCKER : Receives a Buy rating from Warburg Research
MD
09/15SÜDZUCKER : Suedzucker quarterly profits jump as sugar sector recovers
RE
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Südzucker : Suedzucker quarterly profits jump as sugar sector recovers

09/15/2021 | 12:51pm EDT

HAMBURG, Sept 15 (Reuters) - Suedzucker, Europe's largest sugar producer, said on Wednesday its second quarter operating profits and sales rose strongly as its core sugar business improved its performance.

In an advance earnings release, Suedzucker reported a 25% increase in group operating profits for the three months to the end of August to about 85 million euros ($100 million). Sales rose 10% to 1.84 billion euros.

The sugar business posted quarterly operating profits of about 7 million euros against a loss of 42 million euros in the same period last year.

Suedzucker had said in July it hoped its results would improve on expectations the economic impact of the pandemic would subside.

"We have achieved an improvement in the sugar sector partly because of our cost cutting and improved sugar prices,” a Suedzucker spokesman told Reuters.

“We said at the beginning of the current financial year that we hoped to achieve operating profits in our sugar sector of between zero to 100 million euros and this remains our expectation.”

“The overall sugar market outlook is still uncertain because of the pandemic. But we are hoping that more progress will be made in combating the pandemic in coming months.”

Sugar futures hit their highest in over four years in August on fears of a reduced crop in Brazil.

The company repeated its forecast for group operating profits in its 2021/22 fiscal year of between 300 and 400 million euros against 236 million in the previous year.

"Despite expected decreasing effects from the corona pandemic, there are still risks linked to the pandemic in business year 2021/22," it said. "The respective economic and financial impact and duration is still difficult to assess."

Suedzucker’s full quarterly results will be released on Oct. 14. (Reporting by Michael Hogan Editing by Mark Potter)


© Reuters 2021
All news about SÜDZUCKER AG
09/16SUEDZUCKER : Goldman Sachs remains Neutral
MD
09/16SUEDZUCKER : Receives a Buy rating from Warburg Research
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09/15SÜDZUCKER : Suedzucker quarterly profits jump as sugar sector recovers
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Analyst Recommendations on SÜDZUCKER AG
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Financials
Sales 2022 7 099 M 8 363 M 8 363 M
Net income 2022 159 M 187 M 187 M
Net Debt 2022 1 451 M 1 709 M 1 709 M
P/E ratio 2022 18,3x
Yield 2022 1,92%
Capitalization 2 909 M 3 422 M 3 427 M
EV / Sales 2022 0,61x
EV / Sales 2023 0,56x
Nbr of Employees 18 380
Free-Float 30,6%
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Technical analysis trends SÜDZUCKER AG
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 7
Last Close Price 14,25 €
Average target price 14,93 €
Spread / Average Target 4,76%
EPS Revisions
Managers and Directors
Niels Heinrich Pörksen Chairman-Management Board
Hans-Jörg Gebhard Chairman-Supervisory Board
Franz-Josef Möllenberg Vice Chairman-Supervisory Board
Erwin Hameseder Vice Chairman-Supervisory Board
Georg Koch Member-Supervisory Board
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