Europe's largest sugar producer Südzucker has earned more thanks to higher prices.

In the first nine months of the 2023/24 financial year, revenue rose by ten percent to EUR 7.78 billion and operating profit (EBITDA) jumped by almost 40 percent to EUR 1.12 billion, as the Mannheim-based group announced on Thursday. Revenues grew in the sugar, special products and fruit segments, while the starch segment declined slightly. Business at the bioethanol subsidiary CropEnergies declined significantly due to falling prices for biofuel.

Südzucker is sticking to its forecast for the full year. The Group expects revenues of EUR 10.0 to 10.5 billion in 2023/24 and thus an increase compared to the previous year's figure of EUR 9.5 billion. EBITDA is expected to remain between around EUR 1.3 and 1.4 (previous year: 1.1) billion.

(Report by Philipp Krach, edited by Ralf Banser. If you have any questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)