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Jul2017

Interim report 3 Months 2017/18

REVENUES AND NET INCOME RISE SHARPLY

In the first three months of the 2017/2018 financial year, Nordzucker generated revenues of EUR 418.3 million. This was EUR 20.3 million higher than in the same period the previous year. In comparison with the first quarter of the financial year 2016/2017, the Prices for quota sugar and non-quota sugar were somewhat higher, whereas the price development was slightly down on the last quarter of the financial year 2016/2017. Thus, a profit of EUR 41.5 million (comparative period: EUR 16.3 million) was generated.

RECOVERY FROM DELAY IN DEVELOPMENT OF BEETS

Very cold weather in April meant that the growth of sugar beet was delayed in all growing regions. However, much better conditions in May and June, including sufficient rainfall and warmth, enabled crop growth to catch up considerably. The rows closed during the month of June in almost all countries. As of today, at least an average harvest is expected.

WORLD MARKET PRICE DOWN

The world market price for sugar recently fell sharply once again. The world market price (London No. 5) was only EUR 407 per tonne in May 2017. In February, i.e. at the close of the financial year 2016/2017, the world market price was still EUR 513 per tonne.

 

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