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29 May 2013

Still on course for success: Nordzucker AG ends its best financial year ever

Significant increases in revenues and profit

2012/2013 was again an excellent year for Nordzucker: The Group generated net income of EUR 360 million compared with EUR 208 million in the previous year. This renewed success is primarily due to the positive market situation and the long-term measures to improve efficiency.

Nordzucker generated consolidated revenues of EUR 2.443 billion in the 2012/2013 financial year (reporting date: 28 February) (previous year: EUR 2.018 billion). The operating result (EBIT) came to EUR 507 million (previous year: EUR 315 million). Consolidated net income once again rose significantly, reaching EUR 360 million compared with EUR 208 million in the previous year. "This is the best result in the history of our company," emphasised CEO Hartwig Fuchs.

The excellent result is attributable in particular to higher prices for quota sugar and greater sales volumes for non-quota sugar. Furthermore, the 'Profitability plus' programme, which has been running for three years, has enabled considerable savings to be made in production and administration. "We have resolutely continued on our course and made the most of market opportunities without neglecting the continuous evolution of the company. This course is paying dividends," adds Hartwig Fuchs.

Equity ratio of 55 per cent
The positive development of revenues and earnings goes hand-in-hand with an increase in equity by a third to EUR 1.316 billion (previous year: EUR 999 million). The equity ratio has risen to 55 per cent. At the same time, net debt declined further to EUR 59 million in the 2012/2013 financial year (previous year: EUR 249 million).
Nordzucker generates an increasing amount of its revenues outside Germany. 44 per cent (previous year: 47 per cent) is attributable to the Central Europe region, 40 per cent (previous year: 40 per cent) to the Northern Europe region and 16 per cent (previous year: 13 per cent) to the Eastern Europe region. "Revenue trends in the three regions very clearly demonstrate that we are established as a European company in strong, regional markets," says Hartwig Fuchs.

In view of the positive earnings situation, the Annual General Meeting on 11 July 2013 will be asked to vote on a dividend payment of EUR 1.80 per share. In the previous financial year the payment was EUR 1.00.

Sustainable commitment for 175 years
This year, Nordzucker will celebrate a very special anniversary: 175 years ago, the first sugar factory in Nordzucker's current region was established in Klein Wanzleben. In the course of the year, Nordzucker will celebrate the anniversary with a number of events in every country where the Group operates, under the motto 'Sustainable. Dedicated. Together' and with a particular focus on the issue of sustainability.

Outlook
As stock levels continue to rise due to global sugar production exceeding overall consumption, Nordzucker expects sugar prices on the world market to stay at their currently lower level. This may also have an effect on prices in the EU, meaning that Nordzucker cannot rule out a decline in revenues and earnings for the current 2013/2014 financial year.

"Our comprehensive range of measures to boost growth and improve efficiency will ensure that Nordzucker continues to sharpen its competitive edge and stay on course for success," concludes Hartwig Fuchs.

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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[.]deTanja.Schndier-Diehl{@}Nordzucker[.]de

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