Q1 update: weak performance as expected; FY guidance confirmed

  • Sectors : Foods
  • Companies : Südzucker

Ratings and price correct at time of issue.

  • Südzucker

    Closing Price: 1585c

  • RATING 10/10/17

  • PREVIOUS RATING 03/06/15



Sudzucker’s first-quarter update confirms a weak start to the year as unprofitable sugar marketing year (SMY) 2018/2019 sugar contracts weigh on group earnings. While the Sugar operating result was slightly better than anticipated, management has maintained its FY guidance for a Sugar operating loss of €200-300m. Earnings will be H2-weighted as higher EU spot prices feed into 2019/2020 contracting.

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Jul 11 2019, 09:35 IST/BST