Nordzucker Reports Highly Satisfactory First Half

The operative earnings (EBIT) were Euro 273.2 million after Euro 112 million the previous year, and are therefore also more than double. The good business performance has therefore been maintained into the second quarter of the financial year and reflects the continuing good health of the market.

16 oct 2012 --- Nordzucker generated consolidated sales in the first half of the 2012/13 financial year of Euro 1,187.9 million, which were therefore up more than 30 per cent year-on-year (previous year: Euro 900.3 million). The consolidated income before minority interests for the first six months has more than doubled to Euro 199.5 million compared to the same period last year (Euro 72.6 million in 2011/12). The operative earnings (EBIT) were Euro 273.2 million after Euro 112 million the previous year, and are therefore also more than double. The good business performance has therefore been maintained into the second quarter of the financial year and reflects the continuing good health of the market.

The Group equity rose from Euro 854.6 million at the end of the first half 2011/12 to Euro 1,157.4 million. The equity ratio therefore rose from 50.6 per cent to 59.6 per cent despite the much higher balance sheet total. “We are very satisfied with the way the 2012/13 financial year has developed so far because a glance at the balance sheet reveals: Nordzucker is in extremely good health. Nevertheless, we are increasingly concerned about the development of the European and global economies. Whilst the situation on the European sugar market can still be described as good overall, there are increasing signs that economic activity is cooling down. We will therefore continue to pursue our strategy of becoming more streamlined, faster and more efficient,” says Nordzucker AG CEO Hartwig Fuchs commenting on the Group performance.

The Nordzucker Group with its headquarters in Braunschweig/Germany is Europe’s second biggest sugar producer, and is also a producer of bioethanol and animal feed from sugar beet. 18 production sites and refineries across Europe form the efficient technical, logistical and geographical platform for continued success in future. The workforce of 3,300 across the Group is committed to delivering excellent products and services.