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Nordzucker Post 2/2023 - 24 May 2023

Very successful fiscal year in 2022/23

Nordzucker closed the 2022/2023 fiscal year very successfully with an operating profit of 211 million Euro for the Group.

Nordzucker closed the challenging fiscal year in 2022/23 very successfully and thus laid a good foundation for further sustainable development. The Group increased revenues by 16 per cent to 2.3 billion Euro and operating profit (EBIT) by 97 million Euro to 211 million Euro. The Australian subsidiary Mackay Sugar Ltd (MSL), which produces cane sugar, contributed 22 million Euro to this result. The Group’s net profit before minority interests was 182 million Euro, compared to 84 million Euro in the previous year. The EBIT margin increased to 9 per cent from 6 per cent in the previous year.

“We are proud of this very good overall result, especially against the background of the extreme challenges of the last year. Energy crisis, inflation, interrupted supply chains, below-average crop yields and cost increases – we have successfully managed all this with great ideas and a lot of dedication from our employees and partners – from beet growers, logistics partners, suppliers to customers. The increased production costs due to price increases for energy and auxiliary materials for us and our growers were offset by a higher sugar price level,” says CEO Lars Gorissen. “We have further sharpened our strategy. In terms of sustainability, we have set ourselves ambitious targets along the entire value chain and initiated further measures.” The Executive Board and Supervisory Board will propose a dividend payout of 1.20 Euro per share to the Annual General Assembly on 6 July 2023, up from 80 cents per share in the previous year.

Good prospects for Nordzucker in the 2023/2024 fiscal year

“With our projects and initiatives, and also in the context of the current financial situation, we see ourselves well positioned to consistently continue on our path to becoming an even more sustainable company. To this end, we have launched overarching excellence initiatives that optimise our entire value chain and at the same time help to improve the result. Based on this and given the development in the sugar market, we also expect a very good business result in 2023/2024,” explains Alexander Bott, CFO. Alexander Godow, COO, underlines: “By converting our factories to the flexible use of different energy sources last year, we have strengthened our resilience and could now switch flexibly if necessary. This was an outstanding team effort and has shown once again: With us, employees can develop solutions and bring in real improvements – and this in an international exchange.”

For more information, please see our Annual Report 2022/23.

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