Nordzucker Post 01/2021 - 28 January 2021
After three quarters: Nordzucker back in profit
After two years of losses in the wake of the liberalization of the sugar market in 2017, Nordzucker is posting a clearly positive operating profit of 81 Million Euro after three quarters in the 2020/21 fiscal year, compared to minus 9 Million in the same period of the previous year.
Pronounced price stability in the EU, a realigned sales strategy and a comprehensive and consistently implemented cost reduction program have brought Nordzucker back into the black in the first three quarters of fiscal 2020/21. Revenue increased from 1.120 million euros to 1.256 Million Euro compared to the same period of the previous year.
“We are very pleased with the development on the market and with the fact that our measures have taken effect so quickly and effectively. Now we have to look ahead. The market will continue to be characterized by volatility. Programs to reduce costs and optimize our processes and customer relationships will continue to accompany us,” explains Dr. Lars Gorissen, CEO.
The Nordzucker Group, including the majority stake in Australia, continues to stand without debt. Net assets at the end of the third quarter amounted to 84 Million Euro.
“For the full year 2020/21, we expect a clearly positive result. The first three quarters indicate this quite strongly. Our business in Australia continues to be positive and contributes to the Group result,” adds Alexander Bott, CFO.