DGAP-Adhoc: Südzucker AG Mannheim/Ochsenfurt: Südzucker achieves 2013/14 full year targets and expects

| Source: EQS Group AG
Südzucker AG Mannheim/Ochsenfurt  / Key word(s): Final Results/Forecast

08.04.2014 08:47

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
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Mannheim, 8 April 2014

Südzucker AG Mannheim/Ochsenfurt, Mannheim, has reached for financial year
2013/14 (1 March 2013 to 28 February 2014) group revenues of EUR 7,735
(previous year: 7,879) million. Following previous year's extraordinary
performance, operating profit significantly decreased as expected to EUR
658 (previous year: 972) million. Lower earnings in segments sugar, special
products and CropEnergies were in contrast to higher earnings in fruit
segment, as expected. Income from operations (EBIT) significantly decreased
to EUR 542 (previous year: 955) million. It contains the result from
restructuring and special items of EUR minus 116 million, mainly driven by
the costs of the fine within the German anti-trust case and the refund
claim of overpaid production levies in sugar marketing years 2001/02 to

The expectation of an increasingly deteriorating economic environment in
the European sugar and bioethanol markets - disclosed via several ad-hoc
announcements in November and December 2013 as well as in February 2014 -
has been confirmed and reinforced. Against this background Südzucker
expects for financial year 2014/15 a decrease in group revenues to about
EUR 7.0 billion and a significant decrease in operating profit to about EUR
200 million. In this context first quarter operating profit of current
financial year 2014/15 will already show a significant decrease against
previous year's level.

The earnings reduction for financial year 2014/15 mainly derives from
segments sugar and CropEnergies. Achievement of this forecast will mainly
depend on further marketing results and sales volumes in an increasingly
more difficult European sugar market environment. Based on a high European
sugar market inventory level, Südzucker expects the EU not to take further
market measures as there is no necessity. In light of a higher earnings
volatility and the changes in context of the EU sugar policy from 1 October
2017, cost structure is under review, especially in the sugar segment. The
high volatility in the European bioethanol pricing aggravates the forecast,

This revenues and earnings forecast already comprises the obligatory
application of at-equity-consolidation IFRS 11 rules for joint venture
businesses, which is valid from financial year 2014/15 onwards. On
Südzucker Group level this leads to a reduction of about EUR 200 million in
revenues and about EUR 40 million in operating profit. The accounting
changes for joint venture businesses have no influence on the earnings per

Complete full year results for financial year 2013/14 as well as the
forecast for financial year 2014/15 in detail will be published on 15 May

Group figures as of 28 February 2014:

EUR million                                   2013/14   2012/13   +/- in %
Gross revenues                                  7,735     7,879         -2
Operating profit                                  658       972        -32
Operating margin                                 8.5%     12.3%
Result from restructuring and special items      -116       -17      > 100
Income from operations                            542       955        -43

Südzucker AG Mannheim/Ochsenfurt
Central Investor Relations Department
Nikolai Baltruschat
Theodor-Heuss-Anlage 12
68165 Mannheim 
Phone:  +49 621 421-240
Fax:  +49 621 421-449

The Südzucker Group

Südzucker, with its sugar, special products, CropEnergies and fruit
segments, is one of the leading companies in the food industry. In the
traditional sugar business, the group is the world market leader, with 29
sugar factories and three refineries, extending from France in the west via
Belgium, Germany and Austria, through to Poland, the Czech Republic,
Slovakia, Romania, Hungary, Bosnia and Moldova in the east. The special
products segment, consisting of the functional food (BENEO),
deep-frozen/chilled products (Freiberger), portion packs (PortionPack
Europe) and starch businesses, is an important growth driver. The
CropEnergies segment covers the bioethanol activities in Germany, Belgium,
France and the UK. In the fruit segment, the group operates
internationally, is the world market leader for fruit preparations and is a
leading supplier of fruit juice concentrates in Europe.

In 2013/14, the group employed 18,459 persons and generated revenues of
about EUR 7.7 billion.

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Language:     English
Company:      Südzucker AG Mannheim/Ochsenfurt
              Theodor-Heuss-Anlage 12
              68165 Mannheim
Phone:        +49 (0)621 - 421-530
Fax:          +49 (0)621 - 421-7530
E-mail:       investor.relations@suedzucker.de
Internet:     www.suedzucker.de
ISIN:         DE0007297004, XS0606202454   DE000A1AJLE6   XS0222524372
WKN:          729700, A1GNRQ    A1AJLE    A0E6FU, 
Indices:      MDAX
Listed:       Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
              Standard), Hamburg, München, Stuttgart; Freiverkehr in
End of Announcement                             DGAP News-Service