Nordzucker Post 02/2021 - 28 May 2021
Annual financial statements 2020/21: Nordzucker achieves significant profit
Nordzucker returned to profit in financial year 2020/21 and was significantly profitable. The financial statements show an operating profit of 81.0 million euros, compared to minus 14.6 million euros in the previous year. Sales were increased from 1,438.5 million euros to 1,670.4 million euros.
Developments in the market, with very stable prices in the EU, underpinned the positive business performance. A slight pandemic-related decline in sales, on the other hand, had only a minor impact on earnings. The majority interest in Australia’s second largest sugar producer Mackay Sugar Ltd. (MSL) developed in line with expectations and again made a positive contribution to group earnings in 2020/21.
A dividend payment of 60 Euro cents per share will be proposed to the Annual General Meeting. This corresponds to a total payout of 29 million euros. No dividends were payed out in the two previous years.
Nordzucker has succeeded in getting back on the success track in the past two years. Based on a comprehensive transformation program, contributions of around 55 million euros were generated, which significantly improved earnings. “Our employees made this success possible by actively supporting our Act Now! transformation program with many ideas. Especially under the difficult conditions during the Corona pandemic, everyone showed personal commitment, a sense of responsibility and flexibility. That was a great achievement!”, explains Dr. Lars Gorissen, CEO.
Due to the cost reductions implemented in all parts of the company and currently largely stable sugar markets, a clearly positive result can also be expected for the current 2021/22 fiscal year. “We must consequently continue to work on our cost structure and the optimization of our processes with a view to our customers in order to remain competitive. The aim is to be an attractive partner for our beet growers in Europe and to secure dividends for our shareholders in the long term,” emphasizes Alexander Bott, CFO.The benchmark for the future is high. Overall, the sugar market is characterized by volatility, high competition and increasing political and social demands. “We are tackling the challenges and have great ambitions. For the coming years, we have launched new initiatives in all core areas of the company under the motto “Good.Better.Excellent!” to further optimize and digitalize the company comprehensively and to reduce our costs,” underlines Dr. Lars