This was announced by the mdax company when it presented detailed figures on thursday. In addition, the division suffered from high raw material costs. The segment’s operating profit fell by 36 percent to 143 million euros. "This hurts us quite a bit," said a sudzucker spokesman.
When the EU sugar market regulation expires in its current form at the end of 2017, increasing fluctuations are to be expected in the sugar segment. Without a sugar quota and a minimum price for rubies, a piece of stability would be lost, said the spokesman. "There is a lack of a reliable basis for planning." The market order regulates the import of the cheaper cane sugar. Although the loss of sudzucker is causing mixed feelings, the spokesman stressed that the group is well positioned.
Group sales fell by just under one percent to 2.02 billion euros. Operating profit fell by 35 percent to 194 million euros. At 115 million euros, sudzucker’s bottom line was 34 percent lower than a year ago. "Compared to last year, it’s a step down," said the spokesman. "But we have one of the best half-year results in the company’s history."Last year was an exceptional year due to good export opportunities and low reuben prices. "We were aware that we would not get this again."
The number of employees rose by 2.8 percent to 18,331 across the group in the previous year. The company had already presented its key figures for the second quarter in september. The group continues to expect an increase in sales to 8 (previous year: 7.9) billion euros. Operating profit expected to decline by 15 percent to 825 million euros.