Davy Research

Südzucker

Südzucker - Q1 2017/2018: Continued progress in Sugar; FY guidance reiterated
Foods
Südzucker

DAVY VIEW

Südzucker (SZU) has delivered a strong Q1 performance. Profit growth was mainly driven by the Sugar segment with contributions from Fruit and CropEnergies partially offset by declines in Special Products. Q1 group operating profits rose by 39.1% year-on-year (yoy) to €153m with margins increasing by 170bps to 8.6%. The company has reiterated its full-year group operating profit guidance of €425-500m, with sugar expected to be the largest contributor.

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  • RATINGS AND PRICE CORRECT AT TIME OF ISSUE


  • Südzucker

    Closing Price: 1845c

  • RATING 03/06/15

  • PREVIOUS RATING 17/05/13

    Neutral

Analyst(S)

COMPANY DATA

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