Südzucker sugar segment returned to profitability thanks to a significant improvement in results

Südzucker AG
Thursday, January 12, 2023
Sugar segment's revenues rose significantly to EUR 2,366 (previous year: 1,969) million during the reporting period. Global increases in agricultural commodity prices also impact the EU sugar price level since the start of the new 2022/23 sugar marketing year (1 October 2022 to 30 September 2023). With a slight decline in volumes, overall sales revenues were significantly higher than the previous year. Operating result improved substantially to EUR 132 (previous year: -10) million. However, the significant increase in revenues was also offset by a clear rise in raw material, energy and packaging costs. These costs will again increase significantly for the sugar segment from the 2022 campaign. The performance in the third quarter of 2022/23 was favored in part by the sale of sugar inventories from the 2021 campaign at the beginning of the new sugar marketing year.
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