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15 October 2013

Positive business performance continues

Revenues up by 3 per cent

In the first six months of the 2013/2014 financial year (1 March to 28 February), Nordzucker generated revenues of EUR 1,222.7 million (previous year: EUR 1,187.9 million). The net income achieved during the same period reached EUR 184.6 million (previous year's period: EUR 199.5 million). Four years before the end of the quota system for sugar in the EU, the company is continuing to prepare for the coming challenges.

Nordzucker was able to increase sales of quota sugar – despite decreasing prices – in the first half of the year. This enabled the company to more than offset a drop in sales of non-quota sugar.

“As a result of intense sales efforts, we were able to slightly increase the already high level of revenues and once again finish the first half of the year with solid figures,” said the CEO of Nordzucker AG, Hartwig Fuchs. Looking to the future, the CEO added: “We currently expect that we will be unable to match the record earnings of the previous year. This is because worldwide sugar production exceeds consumption, which is leading to lower prices on the global market. During the course of the current financial year, sugar prices in the EU will also fall.”

In 2017, the quota system for sugar in the EU will expire, meaning that the industry will also face large-scale changes. With regard to the end of the quota system, Fuchs commented: “We are consistently continuing to pursue our goals and will further increase our competitiveness in sugar beet cultivation, sugar production and marketing.”

You will find the full interim report of the first six month in our Download Center at www.nordzucker.de.

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Background
The Nordzucker Group, based in Braunschweig, is Europe’s second-largest sugar producer. The Group also produces bioethanol and animal feed from sugar beet. Eighteen production and refinery facilities across Europe form the technical, logistical and geographic basis for continued success. The Group’s 3,300 employees strive towards providing excellent products and services.

 

Tanja Schneider-Diehl
Fon: 0531 / 2411-314
Mail: Tanja.Schneider-Diehl{@}Nordzucker[.]de

 

 

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