Suedzucker trims forecast after higher EU harvest expectations

Suedzucker AG

16/09/2024 12:10

Sept 16 (Reuters) - Germany's Suedzucker  SZUG.DE  on
Monday cut its earnings forecast, pointing to the improved
harvest expectation in the European Union pushing up the amount
of sugar in the bloc's market.
    Europe's largest sugar producer now expects revenue to come
between 9.5 billion euros and 9.9 billion euros ($10.56
billion-$11.01 billion) for the 2024/25 financial year. It
previously expected the figure at between 10 to 10.5 billion
euros.
    It added its core earnings are expected to come between 550
and 650 million euros, down from a range of 900 million-1
billion euros.
($1 = 0.8992 euros)

 (Reporting by Paolo Laudani; editing by Matthias Williams)
 ((Paolo.Laudani@thomsonreuters.com;))