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Jan2019

Third quarter: significant decline in sales and earnings

Nordzucker generated revenues of EUR 1,056 million at the end of the first nine months of the current financial year, 18 percent lower compared to the same period last year (EUR 1,284 million). Profit for the period also fell sharply from EUR 143.5 million in the previous year to EUR 17.1 million.

Low sugar prices and slightly lower sales volumes are the main reasons for the earnings trend. The fall in prices for sugar on the world market, which is at its lowest level for about ten years, is attributable to substantial overproduction, particularly in India and Thailand.

The market situation within the EU has also been characterised by overproduction since the end of the quota system for sugar. As a result, prices for sugar have also fallen dramatically here and are currently around 35 per cent lower than in the previous year. Due to the drought in the 2018/2019 crop year, production in the EU declined slightly.

 

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Bianca Deppe-Leickel

Bianca Deppe-Leickel

Investor Relations & Projects
Nordzucker Group

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