Dear readers,<\/p>\n\n\n\n
it was an important signal: at the Annual General Meeting in early July, our shareholders confirmed the Nordzucker Group\u2019s strategic direction and gave the Executive Board and Supervisory Board a vote of approval by a very large majority. On behalf of the Executive Board, I would like to express my gratitude for this vote of confidence. It demonstrates once again that partnership carries Nordzucker through even in difficult times. In an exceptionally challenging market environment, we stand reliably side by side.<\/p>\n\n\n\n
Right now, this spirit of cooperation is crucial if we are to consistently continue along the path we have chosen and return to profitability under our own power. A look at the current market situation makes it clear that a substantial recovery is not yet in sight. Low sugar prices and high stocks, both within the EU and on the global market, continue to impact our results in the first quarter. Our cost-cutting measures are already beginning to bear fruit, with reduced logistics and administrative costs. At the same time, better-than-expected prices and increased sales of ethanol and beet pulp pellets are making a positive contribution to our results.<\/p>\n\n\n\n
For the current crop year, the area under cultivation has been reduced once again. It remains to be seen whether, and to what extent, this measure will affect sugar prices. At present, the beets are developing well in most regions of Europe. However, harvest volumes and sugar yields will be significantly influenced by weather conditions and the occurrence of plant diseases and pests over the coming weeks.<\/p>\n\n\n\n
It is up to us to strengthen our core beet business, further optimise our cost structures and adapt our production network to changing conditions. Adjusting the beet pricing model to meet market challenges is also a key foundation for future collaboration and strengthens the competitiveness of beet cultivation.<\/p>\n\n\n\n
With our Fields for Growth strategy, we have set a clear course. Nordzucker aims to grow and broaden its base. Essentially, this involves reducing our dependence on the European sugar market whilst simultaneously strengthening our market position in Europe. Resilience and independence in the face of extreme market fluctuations are vital. We are also confronted with political conditions such as the sugar tax planned for 2027, the details and consequences of this are not yet foreseeable. We see growth potential in the expansion of the cane sugar business, as well as in the areas of alternative proteins and functional food ingredients (Smart Ingredients).<\/p>\n\n\n\n
Step by step, we are continuing our course \u2013 with a clear focus on growth, excellence and sustainability. In this way, we are creating the conditions to successfully shape our future together.<\/p>\n\n\n\n
With kind regards,
Lars Gorissen, CEO<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
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