Straits Times Index
3,090.31 +17.32 (+0.56%) S&P 500
4,594.63 +26.83 (+0.59%) Dow
36,245.50 +294.60 (+0.82%) Nasdaq
14,305.03 +78.83 (+0.55%) Bitcoin USD
40,008.34 +629.91 (+1.60%) CMC Crypto 200
802.76 +11.20 (+1.41%)
Südzucker AG (SZU.DE)
- Reuters
Suedzucker sees Q3 operating result significantly up on year
Suedzucker said it expects operating profit in the third quarter ending Nov. 30 “to be significantly higher” than the previous year's level of 220 million euros ($239.07 million). “Suedzucker has been able to recover the higher costs we face including for energy, logistics and packing in the sugar market.” Germany's sugar production this season will rise 9.8% on the year, Germany's sugar industry association said on Wednesday.
- Reuters
Suedzucker quarterly profits jump, full-year forecast raised
HAMBURG (Reuters) -Europe's largest sugar producer Suedzucker on Thursday more than doubled its quarterly profits as high sugar prices compensated for increased energy and raw material costs, and raised its forecast for full-year earnings. Suedzucker raised its forecast for full-year 2023/24 group operating profit to between 900 million and 1 billion euros, up from its previous forecast of between 850 and 950 million euros, and against 704 million in its previous year. "The forecast for the full year has been raised partly because we expect current high sugar prices to continue," a Suedzucker spokesperson told Reuters.
- Reuters
Exclusive-Suedzucker unit drops plan to lift French sugar output, citing Ukraine imports
PARIS (Reuters) -Sugar maker Saint Louis Sucre, owned by Germany's Suedzucker, asked French farmers not to increase their beet output in 2024 to avoid a fall in prices amidst hefty competition from Ukrainian sugar, copies of a letter seen by Reuters show. European sugar prices have hit record highs, well above soaring global markets, due to a sugar deficit in the bloc, linked notably to falling output in France where farmers have been deterred by poor harvests in recent years. But the war in Ukraine has led to large imports of sugar into the bloc, raising fears of a surplus, such as in 2017 after the European Union lifted production quotas, which led to a collapse in prices.
