Suedzucker warns of lower Q3 results (updated)

Suedzucker AG

15/10/2024 10:33

(Adds company comment in paragraph 3, context in paragraph 4,
5)
       Oct 15 (Reuters) - Europe's largest sugar producer
Suedzucker  SZUG.DE  flagged lower third quarter earnings on
Tuesday, blaming the war in Ukraine for exacerbating the high
volatility of the market.
    The firm said it expected a significant year-on-year decline
in core earnings and operating result, but confirmed its group
forecast for the 2024/25 financial year.
        The impact of the war in the Middle East as well as the
European Union's extended duty-free access for agricultural
imports from Ukraine are difficult to assess, Suedzucker said.
        The company in September 
    slashed
     its forecast for the 2024/25 financial year, pointing to
the improved harvest expectation in the European Union pushing
up the amount of sugar in the bloc's market.
  
        Suedzucker's third quarter results are to be published
on Jan. 14, 2025.
  
        
  

 (Reporting by Tristan Veyet in Gdansk
Editing by Madeline Chambers and Miranda Murray)
 ((Tristan.Chabba@thomsonreuters.com;))