Suedzucker reports rise in first-quarter operating profit, raises revenue outlook (updated)
UPDATE 1-Suedzucker reports rise in first-quarter operating profit, raises revenue outlook Recasts with operating EBITDA, adds guidance, quote, sugar price
July 9 (Reuters) - Suedzucker SZUG.DE, Europe's largest sugar producer, nudged upwards its yearly guidance for revenue on Thursday after it reported a rise in operating core earnings for the first quarter of the company's financial year, helped by lower costs.
The company's operating earnings before interest, taxes, depreciation and amortization for the first quarter rose by 41% to €135 million ($154.4 million).
Suedzucker also raised its full-year revenue guidance range, now expecting it to reach €8.1 billion to €8.5 billion from a previous range of €8.0 billion to €8.4 billion.
The company added that sugar beet sowing had progressed rapidly through the quarter and was largely successful in most regions.
"Overall, sugar beet development was good to very good across most regions through early June," Suedzucker said in a statement.
Revenue for the first quarter, however, declined 4% from a year earlier to €2.1 billion, dragged down by lower sales volumes and prices in the company's sugar segment.
European Commission data shows average EU white sugar prices fell to €502 a metric ton in April 2026, their lowest since August 2022.
($1 = 0.8744 euros)
(Reporting by Tristan Veyet in Gdansk, editing by Linda Pasquini and Jan Harvey)
((Tristan.veyet@thomsonreuters.com;))