Editorial from Dr. Lars Gorissen
our business result after nine months as of November 30, 2019, still remains negative and will remain so at the end of the financial year. However, it is significantly better than in the previous year. We have slowed the downward trend. Our cost-cutting measures in administration and production are taking effect. There are signs of a slight price recovery in the new sugar marketing year as a result of two low harvests in Europe.
With our "Smart beet" initiative, we are investing in the development of innovative systems for beet cultivation. We are convinced that this will make beet an important and economically attractive member of crop rotation system in the new decade. Together with our beet growers, we will be competitive and successful in our core markets in the EU. More about this at the winter assemblies.
We continue to fight against distortions of competition in the EU and worldwide. #WirSindZucker is the joint initiative of all sugar industry associations in Germany and is based on our arguments. Join in! You can also find out more about this at the winter assemblies.
The campaign has ended in almost all plants. Our plant in Sweden will continue to run until mid-February after the modification and because of the very good harvest. Overall, the Group's yields are a good average. Around the Baltic Sea there was more precipitation and better yields than in the "continental" climate zones.
In Australia, the first campaign with our participation was successfully completed. Unlike in previous years, we succeeded in processing all the attached cane in our factories. Incidentally, the devastating fires in South Australia did not affect the region around Mackay. Recently there was good precipitation there, which fortunately also reached the fire regions over 2000 km away.
Speaking of climate: sustainability and CO2 neutrality are core issues for Nordzucker. We have already achieved a great deal in these areas for decades. The investments still required to achieve CO2 neutrality will be substantial. To achieve this, the political and economic conditions must improve. We communicate this to our politicians at all levels in numerous discussions and rely on our constructive dialogue with the "Fridays for Future" movement.
I wish you interesting reading. We look forward to receiving comments and suggestions on Nordzucker Post and, of course, to interesting discussions on all topics at the winter assemblies.
Yours, Lars Gorissen