Nordzucker Sales Down 4%

The changes effecting the European sugar industry require a clear strategic further development of the Nordzucker Group. With the planned acquisition of Danisco Sugar A/S, Nordzucker is on course for successful and sustainable development.

02/02/09 Nordzucker has published its third quarter report for the 2008/09 financial year. There was a slight decline in sales as expected: sales revenues in the first nine months of the year dipped by around four per cent year-on-year to Euro 878 million (previous year: Euro 917 million). This decline is mainly attributable to the renouncement of quota last year in line with the reform of the Common Market Organisation for sugar.

In contrast, operative earnings (EBIT) rose from Euro 52 million over the same period last year to Euro 74 million. Comparison should take into account that the first nine months of the previous financial year were considerably affected by restructuring costs arising from the closure of the Güstrow factory.

Nordzucker looks back on a very successful 2008/09 sugar campaign. Beet and sugar yields reached record levels: the beet yield per hectare across the Group was 59 tonnes, (previous year: 56.6) and the sugar yield was around 17.9 per cent (previous year: 17.2).

The changes effecting the European sugar industry require a clear strategic further development of the Nordzucker Group. With the planned acquisition of Danisco Sugar A/S, Nordzucker is on course for successful and sustainable development. Closing the acquisition transaction still requires the consent of the German Cartel Office (Bundeskartellamt).