Suedzucker posts third-quarter loss on weak sugar market

Suedzucker AG

14/01/2025 06:15

HAMBURG, Jan 14 (Reuters) - Europe's largest sugar
producer Suedzucker  SZUG.DE  on Tuesday posted a quarterly
operating loss with its core sugar sector in the red because of
weak markets and turbulence caused by the war in Ukraine.
    Suedzucker reported a group operating loss in the third
quarter to end November 2024 of its 2024/25 fiscal year of 33
million euros ($33.81 million), down from a profit of 268
million euros in the same year-ago quarter. 
    Suedzucker warned in October its third-quarter earnings
would decline, partly because the EU is permitting extra sugar
imports from Ukraine as part of its support for the country
after the Russian invasion, generating competition for EU
producers.
    It also on Tuesday confirmed its previous warning that group
operating profit in its full 2024/25 year will fall to between
175 and 275 million euros from 947 million in the previous
fiscal year.
    Sugar futures hit 3-1/2 month lows in January as increased
sugar production in China could help to curb imports while
prospects for Brazil's sugar production were boosted by welcome
rain. 

($1 = 0.9761 euros)

 (Reporting by Michael Hogan, editing by Rachel More)
 ((michael.j.hogan@thomsonreuters.com; +49 172 671 36 54;
Reuters Messaging:
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