Südzucker (SZU) Investor presentation summary

Strategic vision and group overview

• Celebrating 100 years, the group has evolved from a regional sugar producer to a diversified multinational with ~18,200 employees and ~90 production sites in 31 countries.

• Non-sugar activities now generate about 70% of group revenues, reflecting a strong shift toward plant-based solutions in nutrition, energy, and specialty products.

• The 2030 strategy, "Get the Power of Plants," targets leadership in plant-based solutions, emphasizing profitable growth, sustainability, and innovation.

• Five strategic directions guide development: profitable growth, plant-based solutions, markets & customers, people, and sustainability.

• Key initiatives include operational excellence, digitalization, supply chain optimization, and internationalization, with annual savings of €150 million achieved.

Financial performance and outlook

• FY 2025/26 revenues were €8.4bn, with operating EBITDA at €535m and operating result at €163m, both significantly below the prior year.

• Sugar segment saw a significant decline due to lower prices and volumes, while CropEnergies outperformed despite market challenges; fruit segment earnings increased.

• For FY 2026/27, group revenues are forecast at €8.1–8.5bn and operating EBITDA at €480–680m, with a focus on improving profitability and maintaining financial stability.

• Strong liquidity position supported by diversified financing, disciplined capital management, and a commitment to investment-grade ratings.

• Recent financing actions include new bonds, syndicated loans, and credit lines, ensuring a solid maturity profile and liquidity buffers.

Segment highlights

• Sugar: Capacity aligned to market, efficiency programs implemented, and focus on sustainable products; segment remains volatile but structurally improved.

• Special products: Growth driven by health and plant-based trends, portfolio expansion, and new market entries, especially in Asia and North America.

• CropEnergies: Expanded renewable ethanol and biobased chemicals, leveraging regulatory support for higher ethanol blends and alternative energy.

• Starch: Focus on cost efficiency, specialty products, and process optimization for higher margins and competitiveness.

• Fruit: Growth via customer-specific solutions, M&A, and global market expansion, with strong EBITDA and ROCE.