Südzucker AG / Key word(s): Final Results/Miscellaneous
18.02.2015 08:17
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Mannheim, 18 February 2015
CropEnergies AG, Mannheim, a subsidiary of Südzucker AG, Mannheim, is
temporarily pausing production of its English subsidiary Ensus UK, Wilton.
This decision has been made due to the current difficult situation in the
European bioethanol market which the dramatic drop of oil prices in the
last few months has exacerbated. Bioethanol prices reached an all-time low
of EUR 417 per cubic meter FOB Rotterdam on 15 January 2015. The
devaluation of the euro compared to the British pound was an additional
burden. The drawn-out political process in the EU to also increase the
percentage of renewable energies in the transport sector compared to today
is not conductive either. The production facility was brought off line a
few days ago for cleaning and inspection. CropEnergies' other plants in
Germany, Belgium and France are running at high capacity utilization
despite the difficult market conditions and thus prove their leading
technological position and competitiveness.
As soon as market conditions allow, the English production plant can be
brought on line again and CropEnergies Group's full annual production
potential of 1.2 million cubic meters can be exploited. The possibility of
recommissioning will be continuously reviewed against the backdrop of
upcoming policy decisions.
CropEnergies expects the temporary shutdown to lead to one-off
restructuring costs of up to EUR 40 million in the consolidated financial
statement for financial year 2014/15, impacting also the consolidated
financial statement of Südzucker.
Südzucker AG
Central Investor Relations Department
Nikolai Baltruschat
MaximilianstraÃe 10
68165 Mannheim, Germany
Phone: +49 621 421-240
Fax: +49 621 421-449
investor.relations@suedzucker.de
About 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), chilled/frozen
products (Freiberger), portion packs (PortionPack Europe) and starch
divisions, 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 18,186 persons and generated revenues of EUR
7.5 billion.
18.02.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Südzucker AG
Maximilianstr. 10
68165 Mannheim
Germany
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: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime
Standard), Hamburg, Munich, Stuttgart; Regulated Unofficial
Market in Hanover
End of Announcement DGAP News-Service
---------------------------------------------------------------------------
DGAP-Adhoc: Südzucker AG: Südzucker subsidiary CropEnergies temporarily pausing production at Ensus: One-off costs of up to EUR 40 million expected
| Source: EQS Group AG