Edition:
India

Suedzucker Cuts Outlook On "Very Difficult Market", Shares Fall


Thursday, 20 Sep 2018 

Sept 20 (Reuters) - Suedzucker AG ::DGAP-ADHOC: SÜDZUCKER AG: SÜDZUCKER REDUCES FULL YEAR OUTLOOK IN FURTHER VERY DIFFICULT MARKET ENVIRONMENT.SÜDZUCKER REDUCES FULL YEAR OUTLOOK IN FURTHER VERY DIFFICULT MARKET.NOW EXPECTS FOR FINANCIAL YEAR 2018/19 GROUP REVENUES OF EUR 6.6 TO 6.9 (PREVIOUS FORECAST: 6.8 TO 7.1; PREVIOUS YEAR: 7.0) BILLION.NOW SEES FY GROUP OPERATING PROFIT TO REACH EUR 25 TO 125 (PREVIOUS FORECAST: 100 TO 200; PREVIOUS YEAR: 445) MILLION.SÜDZUCKER AG GROUP REVENUES IN FIRST HALF YEAR (1 MARCH 2018 TO 31 AUGUST 2018) OF CURRENT FINANCIAL YEAR 2018/19 REACHED EUR 3,475 (PREVIOUS YEAR: 3,493) MILLION.GROUP OPERATING PROFIT SIGNIFICANTLY DECREASED IN SAME PERIOD TO EUR 139 (PREVIOUS YEAR: 282) MILLION.ADJUSTMENT IS CAUSED BY FURTHER VERY DIFFICULT MARKET ENVIRONMENT FOR SUGAR, SACCHARIFICATION PRODUCTS (STARCH) AND ETHANOL.IN Q2 (1 JUNE 2018 TO 31 AUGUST 2018) GROUP REVENUES REACHED EUR 1,734 (PREVIOUS YEAR: 1,710) MILLION.GROUP OPERATING PROFIT SIGNIFICANTLY DECREASED IN SAME PERIOD TO EUR 62 (PREVIOUS YEAR: 128) MILLION.FORECAST FOR SUGAR SEGMENT IN CURRENT DIFFICULT ENVIRONMENT AND IN LIGHT OF DROUGHT IN LARGE GROWING AREAS IS MARKED BY A HIGH DEGREE OF UNCERTAINTY.EARNINGS DECREASE IS CAUSED ESPECIALLY BY DECREASING RESULTS IN SUGAR AND CROPENERGIES SEGMENTS.DROP 6.6 PERCENT AFTER PROFIT WARNING.