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Nordzucker Post 05/2020 - 8 October 2020

Lars Gorissen: Foundation for stability is laid

Dear Readers,

Nordzucker is profitable again! This is the key message I had for our shareholders at the annual general meeting in these turbulent times. For the first time, Nordzucker held the annual general meeting in virtual form only. Special times call for special measures and health protection is a top priority.

For the current 2020/21 financial year we expect a positive result with a good profit. We have managed to reduce our costs significantly and with effect on earnings as part of the “Act Now!”-programme. This is a necessary step that lays the foundation for more stability in volatile markets.

We can also see by looking at the corona effects on the world market price that the sugar market is a volatile market. For Nordzucker, this environment requires full focus on costs and excellence in everything we do to ensure a profitable future for the company, for growing beet and for dividends for our shareholders.

While the beet campaign is underway at all our plants, we have already been able to conclude contracts for the coming year of cultivation in most of our European growing regions and, to a large extent, for 2022. This early and comprehensive securing of raw materials shows that beet cultivation for Nordzucker is attractive and that our company is a reliable and good partner. Together, Nordzucker and beet growers compete for customers, and together we are involved in the political debate, which is becoming increasingly sharp and has a growing impact on the agricultural and food industry. Let us continue our proven partnership.

I wish you an interesting and informative reading of this issue of Nordzucker Post.

With all best wishes

Yours Lars Gorissen

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