Nordzucker Post 04/2021 - 21 July 2021

Good results in the first quarter

In the first quarter of 2021/22, from March to May 2021, the Nordzucker Group achieved a significant year-on-year increase in revenue of about 19 per cent. 

In the beet sugar business in Europe, sugar prices were slightly higher than in the same period last year; sugar sales also increased very significantly. The development of animal feed products was also positive due to consistently high prices. Group operating profit (EBIT) rose from 23 Million Euro in the same period last year to 28 Million Euro. 

Our majority shareholding in Australia Mackay Sugar Ltd. (MSL) achieved an EBIT of 3 Million Euro in the first quarter. The result of the first quarter is thus already at the level of the entire previous year. 

Tight stocks in the EU, a global deficit in 2020/21 and an overall positive mood on the commodity markets are leading to rising sugar prices in the EU and on the world market. The further development of world market prices depends heavily on the crop and harvest situation in Brazil, India and Thailand. The further development of the pandemic can also influence sugar demand worldwide.

Due to the cost reductions implemented in all areas of the company and the current positive trends on the sugar markets, a clearly positive result can be expected for the current 2021/22 financial year. “Together with our employees, we will continue to work on our cost structure and the optimisation of our processes in order to be successful in competition. We want to remain an attractive partner for our beet growers and secure good dividends,” emphasises Lars Gorissen, CEO.