Suedzucker's Q2 earnings fall sharply on lower sugar prices

Suedzucker AG

10/10/2024 06:17

HAMBURG, Oct 10 (Reuters) - Europe's largest sugar
producer Suedzucker  SZUG.DE  on Thursday confirmed a 63% fall
in quarterly operating profits and a cut in full-year earnings
forecasts because of weak sugar markets.
    Suedzucker reported operating profit in the second quarter
to Aug. 31 of its 2024/25 fiscal year of 114 million euros 
($124.70 million), down from 310 million euros in the same
quarter last year. 
    Suedzucker had warned in September that its second quarter
earnings would decline because of unexpectedly sharp
deterioration in market expectations for its core sugar sector.

($1 = 0.9141 euros)

 (Reporting by Michael Hogan in Hamburg and Bartosz Dabrowski in
Gdansk, Editing by Miranda Murray)
 ((bartosz.dabrowski@thomsonreuters.com; +48 58 7696560;))