Nordzucker Post 3/2023 - 27 July 2023

First quarter: figures point to an extraordinary result

The Nordzucker Group closed the first quarter of the fiscal year at the end of May 2023 with an exceptionally good result. At 643 million Euro, Group revenues were once again significantly above the high level of the same period last year (475 million Euro). The operating result (EBIT) increased to 109 million Euro in the first quarter. In the same period last year, earnings were 38 million Euro.

Nordzucker was able to benefit from a positive development in the sugar market both in Europe and in Australia. The animal feed markets also developed favourably. In Australia, there were also good revenues from the sale of electricity generated from the residual material from sugar cane, bagasse.

“We see ourselves continuing on a successful course for the current fiscal year. In a very pleasing market environment, we expect an exceptionally good result for 2023/2024,” says Alexander Bott, CFO, and continues: “The currently very good earnings situation forms the basis for preparing ourselves to meet the demands of the future. In the face of further volatile markets and comprehensive requirements with regard to the sustainability of our products, our goal must be to strengthen Nordzucker for the future through necessary investments and innovations. To achieve this, we have to invest with the necessary care and further optimise our cost structure with the help of our excellence initiatives.”