Nordzucker closes 2021/22 with strong results

In FY2021/22, Nordzucker significantly increased Group revenues and operating profit. At €1.9bn, revenues increased by €273mn compared to the previous year. At €114mn, the operating profit (EBIT) was €33mn higher than in 2020/21. The company closed FY2021/22 with a net profit of €84mn (previous year: €66mn). A higher price level for sugar compared to the previous year and a significant increase in sugar sales contributed to the good result. The majority interest in the cane sugar producer Mackay Sugar Ltd. in Australia contributed €15mn to the Group’s operating profit. Nordzucker CEO Lars Gorissen said: “With our optimisation program launched three years ago, we were able to generate a profit contribution of about €70mn in addition to the effects of the good market development. In view of significantly increased costs in the 2021/22 campaign, this contribution has been essential for the steadiness of the company.” The Executive Board and Supervisory Board will propose a dividend payout of €0.80 per share at the Annual General Meeting on July 20, 2022, up from €0.60 per share in the previous year. Nordzucker expects a positive earnings situation for the current 2022/23 financial year, provided that sufficient energy is available for sugar production in the factories. “Due to the pandemic and the Ukraine war, costs have risen considerably, especially for energy. However, we are confident that we will be able to offset the increased costs with higher sales revenues. This is shown by the current price trend for sugar in Europe,” noted Alexander Bott, CFO.