Suedzucker Ag · XETR:SZU

Suedzucker — Südzucker Group — Non-Deal Roadshow (October 2009)

74 slides from Suedzucker's roadshow presentation, October 2009

  1. Slide 1: Südzucker Group Investor Roadshow Frankfurt/Munich

    Südzucker Group Thomas Kölbl (CFO) Investor Roadshow - Frankfurt/Munich October 2009

  2. Slide 2: Agenda

    FINANCIAL TRANSPARENCY Agenda 1. Overview and strategic objectives page 3 2. Development of Segments „ Sugar page 7 „ Special Products page 16 „ CropEnergies page 24 „ Fruit page 28 3. Financial Highlights H1 2009/10 page 32 4. Outlook page 39 5. Appendix „ Annual Financial Statement 2008/09 page 43

  3. Slide 3: Südzucker Group at a glance

    FINANCIAL TRANSPARENCY Südzucker Group at a glance „ Single global food company with headquarters Group revenues 5.9 bn € * and stock quotation in Germany (MDAX, MSCI; Market Cap ~ 2.7 bn €) Sugar „ Approx. 70 % of revenues generated (56%) outside Germany Fruit „ Defensive, non-cyclical business mod

  4. Slide 4: Südzucker Group: Market Position and Strategic Objectives

    FINANCIAL TRANSPARENCY Südzucker Group: Market Position and Strategic Objectives Segment/Division Market Position Strategy / Main Drivers Taking advantage of transition period within the sugar industry via … Sugar #1 in Europe „ … further enhancement of leading market position in Europe „ … internal

  5. Slide 5: Südzucker was and is a high-growth company

    FINANCIAL TRANSPARENCY Südzucker was and is a high-growth company 2002/03 2008/09 6% 21% 14% revenue revenue 4.4 bn € 5.9 bn € 56% 24% 79% Sugar Special Products CropEnergies Fruit „ Proven track record of growth; CAGR 2002/03 – 2008/09 > 5% on group level and 18% for non- sugar activities „ Diversi

  6. Slide 6: Agenda

    FINANCIAL TRANSPARENCY Agenda 1. Overview and strategic objectives page 3 2. Development of Segments „ Sugar page 7 „ Special Products page 16 „ CropEnergies page 24 „ Fruit page 28 3. Financial Highlights H1 2009/10 page 32 4. Outlook page 39 5. Appendix „ Annual Financial Statement 2008/09 page 43

  7. Slide 7: Segment Sugar: Key Figures

    FINANCIAL TRANSPARENCY Segment Sugar: Key Figures (in mn €) 2008/09 2007/08 2006/07 Revenues 3.320 3.464 3.542 EBITDA 255 213 413 EBITDA-Margin 7,7% 6,1% 11,6% Operating profit 137 60 259 Operating Margin 4,1% 1,7% 7,3% Restructuring and special items 102 -21 -109 Goodwill impairment loss 0 0 -482 I

  8. Slide 8: Successful reform process leads to market equilibrium

    FINANCIAL TRANSPARENCY Successful reform process leads to market equilibrium* (mn t) Successful reform process Sugar quota reduction**: EU overall -28%, Südzucker -21% -2 - 1.1 - 0.7 - 3.3 - 0.1 4.0 16 17 18 17 17 14 17 13 13 SMY SMY SMY SMY SMY SMY 2006/07 2005/06 2006/07 2007/08 2008/09 2009/10e (

  9. Slide 9: Strong position within challenging EU environment

    FINANCIAL TRANSPARENCY Strong position within challenging EU environment … Successful reform of sugar market regime Nordzucker / Danisco British Sugar / (15 %) Ebro Sugar „ After 2 years of transition with slow (12 %) momentum in quota renouncements leading to high economic pressure in the whole ind

  10. Slide 10: Offers opportunities in Europe as a future import market

    FINANCIAL TRANSPARENCY … offers opportunities in Europe as a future import market Südzucker exploits new Südzucker quota share - sugar marketing year 2008/09 market opportunities … „ Systematic entry into new import markets and EU member states „ Romania and Bulgaria: Poland z Production and distrib

  11. Slide 11: Cooperation with Mauritius strengthens distribution power

    FINANCIAL TRANSPARENCY Cooperation with Mauritius strengthens distribution power „ Exclusive distributor of ~ 400,000 tonnes p.a. sugar contingent from Mauritius into the EU from 2009 to 2015 „ Imported sugar volume… z …leverages European distribution platform z …supports core production regions z …

  12. Slide 12: Segment Sugar: Quota renouncements

    FINANCIAL TRANSPARENCY Segment Sugar: Quota renouncements Südzucker- Restructuring Accounting Quota aid Special items Cashflow kt mn € Financial year Quota before renouncement 4.091 1st wave (until 31.01.2008) 615 305 2007/08 2009/10 2nd wave (until 31.03.2008) 256 141 2008/09 2009/10 Total 871 446

  13. Slide 13: Segment Sugar: Restructuring 2006/07 - 2008/09

    FINANCIAL TRANSPARENCY Segment Sugar: Restructuring 2006/07 - 2008/09 in light of quota renouncement of 21% (~871,000 t) (in mn €) 446 20 12 Depreciation 141 fixed assets Disposal (2nd 38 sugar wave) quotas 57 24% 45% 403 305 ~142 181 (1st wave) 305 (p.a.) 31% 88 (by~09/10) 76 96 (by 08/09) 47 (by 0

  14. Slide 14: Segment Sugar: Outlook 2009/10

    FINANCIAL TRANSPARENCY Segment Sugar: Outlook 2009/10 „ Quota renouncement in spring 2008 and subsequent lower Revenues quota sugar production in campaign autumn 2008 lead to lower sugar sales „ Cooperation with Mauritius will start running mid of business year, increasing the European distribution

  15. Slide 15: Agenda

    FINANCIAL TRANSPARENCY Agenda 1. Overview and strategic objectives page 3 2. Development of Segments „ Sugar page 7 „ Special Products page 16 „ CropEnergies page 24 „ Fruit page 28 3. Financial Highlights H1 2009/10 page 32 4. Outlook page 39 5. Appendix „ Annual Financial Statement 2008/09 page 43

  16. Slide 16: Segment Special Products: Key Figures

    FINANCIAL TRANSPARENCY Segment Special Products: Key Figures* (in mn €) 2008/09 2007/08 2006/07 Revenues 1.427 1.283 1.161 EBITDA 172 164 152 EBITDA-Margin 12,1% 12,8% 13,1% Operating profit 108 107 94 Operating Margin 7,6% 8,3% 8,1% Restructuring and special items -4 -14 141 Goodwill impairment los

  17. Slide 17: Segment Special Products – strong positions in all divisions

    FINANCIAL TRANSPARENCY Segment Special Products – strong positions in all divisions „ BENEO: World market leader with Revenues (mn €) Premium food ingredients like Isomalt, CAGR: ~9 % Inulin, Oligofructose or rice starch ~1.500 „ Freiberger: Private-label deep frozen 1.427 convenience food (Pizza, P

  18. Slide 18: Segment Special Products: Division BENEO

    FINANCIAL TRANSPARENCY Segment Special Products: Division BENEO „ BENEO Group bundles Functional Food-operations „ Worldwide unchanging growing demand for Functional Food ingredients in view of increasing competition „ Increase in awareness for healthy food and growing per- capita income (emerging m

  19. Slide 19: Segment Special Products: Division Starch

    FINANCIAL TRANSPARENCY Segment Special Products: Division Starch* „ Well established player as manufacturer of specialty starches for the paper, textile, cosmetics, pharmaceutical and construction industries „ Principal focus on organic and GM-free starches for the food industry „ Niche strategy all

  20. Slide 20: Segment Special Products: Division Freiberger

    FINANCIAL TRANSPARENCY Segment Special Products: Division Freiberger „ Freiberger produces and markets chilled and frozen pizzas as well as frozen pasta and baguettes „ Solutions are specifically geared toward the strategies of its business partners: retail industry, caterers and food service operat

  21. Slide 21: Segment Special Products: Division PortionPack Europe

    FINANCIAL TRANSPARENCY Segment Special Products: Division PortionPack Europe „ European market leader in individually packaged portions for the food and non-food sectors in Central Europe „ In addition to conventional sugar packets, product range includes a wide spectrum of other food portion packs

  22. Slide 22: Segment Special Products: Outlook 2009/10

    FINANCIAL TRANSPARENCY Segment Special Products: Outlook 2009/10 „ Continued sales increase within segment Revenues „ Starch with reduction in revenues due to price decrease as a result of decline in raw material prices Î Overall moderate increase expected „ High charges associated with commissionin

  23. Slide 23: Agenda

    FINANCIAL TRANSPARENCY Agenda 1. Overview and strategic objectives page 3 2. Development of Segments „ Sugar page 7 „ Special Products page 16 „ CropEnergies page 24 „ Fruit page 28 3. Financial Highlights H1 2009/10 page 32 4. Outlook page 39 5. Appendix „ Annual Financial Statement 2008/09 page 43

  24. Slide 24: Segment CropEnergies: Key Figures

    FINANCIAL TRANSPARENCY Segment CropEnergies: Key Figures (in mn €) 2008/09 2007/08 2006/07 Revenues 319 180 147 EBITDA 29 31 29 EBITDA-Margin 9.0% 17.2% 19.7% Operating profit 18 22 21 Operating Margin 5.7% 12.2% 14.3% Restructuring and special items -11 -5 -2 Income from operations (EBIT) 7 17 19 I

  25. Slide 25: Segment CropEnergies: Overview

    FINANCIAL TRANSPARENCY Segment CropEnergies: Overview „ One of the leading European biofuel producers Capacity upgrading (nominal) (in k m3) z Focussed on bioethanol only z Biggest European plant (360,000 m3 /year) (+300) „ Expansion program (+100) Installation z Increase of production capacities fr

  26. Slide 26: Segment CropEnergies: Outlook 2009/10

    FINANCIAL TRANSPARENCY Segment CropEnergies: Outlook 2009/10 „ Utilization of extended capacity: significant increase in production Revenues „ Positive impulse through market entry France and increase of European bioethanol demand Î Significant increase in revenues Operating „ Despite start-up costs

  27. Slide 27: Agenda

    FINANCIAL TRANSPARENCY Agenda 1. Overview and strategic objectives page 3 2. Development of Segments „ Sugar page 7 „ Special Products page 16 „ CropEnergies page 24 „ Fruit page 28 3. Financial Highlights H1 2009/10 page 32 4. Outlook page 39 5. Appendix „ Annual Financial Statement 2008/09 page 43

  28. Slide 28: Segment Fruit: Key Figures

    FINANCIAL TRANSPARENCY Segment Fruit: Key Figures (in mn €) 2008/09 2007/08 2006/07 *) Revenues 805 853 915 EBITDA 33 81 89 EBITDA-Margin 4,0% 9,5% 9,7% Operating profit -5 44 46 Operating Margin neg. 5,1% 5,0% Restructuring and special items 0 -5 0 Income from operations (EBIT) -5 39 46 Investments

  29. Slide 29: Segment Fruit – with leading positions in both divisions

    FINANCIAL TRANSPARENCY Segment Fruit – with leading positions in both divisions „ Overview Revenues (mn €) z Division Fruit preparations: World market leader Customers: dairy, baking and ice cream industry 915 z Division Fruit juice concentrates: Leading European producer 12 months (market leader in

  30. Slide 30: Segment Fruit: Outlook 2009/10

    FINANCIAL TRANSPARENCY Segment Fruit: Outlook 2009/10 „ Division fruit preparations: Stable sales despite economic crisis Revenues „ Division fruit juice concentrates: Increase in production and sales due to improvement in availability of raw material, but further pricing pressure Î Moderate increas

  31. Slide 31: Agenda

    FINANCIAL TRANSPARENCY Agenda 1. Overview and strategic objectives page 3 2. Development of Segments „ Sugar page 7 „ Special Products page 16 „ CropEnergies page 24 „ Fruit page 28 3. Financial Highlights H1 2009/10 page 32 4. Outlook page 39 5. Appendix „ Annual Financial Statement 2008/09 page 43

  32. Slide 32: Group income statement

    FINANCIAL TRANSPARENCY Group income statement 2nd quarter 1st half year (in mn. €) 2009/10 2008/09 Δ 2009/10 2008/09 Δ Revenues 1.524,2 1.527,6 -0,2% 2.934,8 2.997,5 -2,1% EBITDA 132,3 59,1 > 100,0% 261,1 162,3 60,9% EBITDA margin 8,7% 3,9% 8,9% 5,4% Depreciation -41,6 -40,8 2,0% -82,2 -80,8 1,7% Op

  33. Slide 33: Financial Highlights – 1st half year 2009/10

    FINANCIAL TRANSPARENCY Financial Highlights – 1st half year 2009/10 „ Group revenues down by 2 % to 2,935 (2,998) million € „ Operating profit more than doubled to 179 (82) million € „ Cashflow strongly up by 118 million € to 243 million € adjusted for prior year‘s Q1 special item „ Earnings per sha

  34. Slide 34: Segment Sugar: Development 1st half year 2009/10

    FINANCIAL TRANSPARENCY Segment Sugar: Development 1st half year 2009/10 2nd quarter 1st half year (in mn €) 2009/10 2008/09 Δ 2009/10 2008/09 Δ Revenues 887,0 880,8 0,7% 1.655,4 1.730,9 -4,4% EBITDA 62,8 34,3 83,1% 129,0 73,9 74,6% EBITDA margin 7,1% 3,9% 7,8% 4,3% Depreciation -11,4 -12,5 -8,9% -22

  35. Slide 35: Segment Special Products: Development 1st half year 2009/10

    FINANCIAL TRANSPARENCY Segment Special Products: Development 1st half year 2009/10 2nd quarter 1st half year (in mn €) 2009/10 2008/09 Δ 2009/10 2008/09 Δ Revenues 338,5 360,2 -6,0% 688,2 717,2 -4,0% EBITDA 48,8 36,7 33,0% 97,0 75,0 29,3% EBITDA margin 14,4% 10,2% 14,1% 10,5% Depreciation -17,4 -16,

  36. Slide 36: Segment CropEnergies: Development 1st half year 2009/10

    FINANCIAL TRANSPARENCY Segment CropEnergies: Development 1st half year 2009/10 2nd quarter 1st half year (in mn €) 2009/10 2008/09 Δ 2009/10 2008/09 Δ Revenues 92,9 88,0 5,5% 180,2 141,0 27,8% EBITDA 6,8 8,1 -16,4% 7,5 15,8 -52,7% EBITDA margin 7,3% 9,2% 4,1% 11,2% Depreciation -4,4 -2,5 76,0% -8,3

  37. Slide 37: Segment Fruit: Development 1st half year 2009/10

    FINANCIAL TRANSPARENCY Segment Fruit: Development 1st half year 2009/10 2nd quarter 1st half year (in mn €) 2009/10 2008/09 Δ 2009/10 2008/09 Δ Revenues 205,8 198,6 3,6% 411,0 408,4 0,6% EBITDA 13,9 -20,0 - 27,6 -2,4 - EBITDA margin 6,8% - 6,7% - Depreciation -8,4 -9,5 -11,4% -17,1 -18,8 -9,0% Opera

  38. Slide 38: Agenda

    FINANCIAL TRANSPARENCY Agenda 1. Overview and strategic objectives page 3 2. Development of Segments „ Sugar page 7 „ Special Products page 16 „ CropEnergies page 24 „ Fruit page 28 3. Financial Highlights H1 2009/10 page 32 4. Outlook page 39 5. Appendix „ Annual Financial Statement 2008/09 page 43

  39. Slide 39: Normalisation of seasonal NFD pattern from 2009/10

    FINANCIAL TRANSPARENCY Normalisation of seasonal NFD pattern from 2009/10 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 -2.300 FY 2005/06 FY 2006/07 FY 2007/08 FY 2008/09 FY 2009/10p -2.100 -1.854 -1.920 +446 mn € -1.900 -1,858 Cash in -1.700 restructuring aid -1.672 -1,633 -1

  40. Slide 40: Südzucker Group: Outlook 2009/10

    FINANCIAL TRANSPARENCY Südzucker Group: Outlook 2009/10 „ Segment sugar with further decline due to lower sugar quota since Revenues sugar marketing year 2008/09 „ Continued dynamic growth of segment CropEnergies „ Moderate increase of special products and fruit segments  Südzucker Group: On previo

  41. Slide 41: Executive summary

    FINANCIAL TRANSPARENCY Executive summary „ Umsatz in 2007/08 and 2008/09 reached, despite heavy distortion in EU sugar market and Milestones outbreak of the financial and economic crisis „ End of EU sugar market restructuring phase increases visibility „ Completion of investment phase sets cornersto

  42. Slide 42: Agenda

    FINANCIAL TRANSPARENCY Agenda 1. Overview and strategic objectives page 3 2. Development of Segments „ Sugar page 7 „ Special Products page 16 „ CropEnergies page 24 „ Fruit page 28 3. Financial Highlights H1 2009/10 page 32 4. Outlook page 39 5. Appendix „ Annual Financial Statement 2008/09 page 43

  43. Slide 43: Financial Highlights 2008/09

    FINANCIAL TRANSPARENCY Financial Highlights 2008/09 „ Group revenues up 2% to 5.9 (5.8) bn € „ Operating profit rises 11% to 258 (233) mn € „ Segment sugar generates higher profits at 137 (60) mn € thanks to reduced charges from the restructuring phase of the EU sugar market regulation „ Special pro

  44. Slide 44: Südzucker Group: Key Figures

    FINANCIAL TRANSPARENCY Südzucker Group: Key Figures (in mn €) 2008/09 2007/08 Δ Revenues 5.871 5.780 92 1,6% EBITDA 489 489 - - EBITDA-Margin 8,3% 8,5% Operating profit 258 233 25 10,6% Operating Margin 4,4% 4,0% Restructuring and special items 87 -44 131 - Income from operations (EBIT) 345 189 156

  45. Slide 45: Revenues by segment

    FINANCIAL TRANSPARENCY Revenues by segment (in mn €) 2008/09 2007/08 Δ Südzucker Group 5.871 5.780 92 1,6% Sugar 3.320 3.464 -144 -4,2% Special Products 1.427 1.283 144 11,2% CropEnergies 319 180 140 77,8% Fruit 805 853 -48 -5,6% „ Sugar: In H1 sale of higher quota sugar production of 2007 campaign.

  46. Slide 46: Revenues by region 2008/09

    FINANCIAL TRANSPARENCY Revenues by region 2008/09 „ Approx. 93 % of revenues are generated within EU „ Neu facilities generate overproportinate growth in Central EU 15 and Sout Eastern Europe (46.4 %) „ Distribution into growth regions: z Segment sugar: ¾ Distribution into deficit markets Italy, Gre

  47. Slide 47: Operating profit by segment

    FINANCIAL TRANSPARENCY Operating profit by segment (in mn €) 2008/09 2007/08 Δ Südzucker Group 258 233 25 10,6% Sugar 137 60 77 > 100 % Special Products 108 107 1 0,7% CropEnergies 18 22 -4 -17,3% Fruit -5 44 -49 - „ Sugar: Start of recovery mainly due to decline of burden from restructuring phase o

  48. Slide 48: Result from restructuring and special items

    FINANCIAL TRANSPARENCY Result from restructuring and special items (mn. €) 2008/09 2007/08 Δ Sales 5.871 5.780 92 1,6% Operating Profit 258 233 25 10,6% Restructuring & special items 87 -44 131 thereof Sugar 102 -20 123 thereof Special products -4 -14 10 thereof CropEnergies -11 -5 -6 thereof Fruit

  49. Slide 49: Earnings before income taxes

    FINANCIAL TRANSPARENCY Earnings before income taxes (in mn €) 2008/09 2007/08 Δ Operating income 258 233 25 Restructuring and special items 87 -44 131 Income from operations (EBIT) 345 189 155 Income from associated companies 22 23 22 Financial expense -135 -93 -42 Earnings before income taxes 232 1

  50. Slide 50: Earnings per share

    FINANCIAL TRANSPARENCY Earnings per share (in mn €) 2008/09 2007/08 Δ Earnings before income taxes 232 120 112 Taxes on income -49 -20 -28 Consolidated net earnings 183 100 84 thereof Südzucker AG shareholders 162 20 143 thereof hybrid capital 26 26 0 thereof other minority interest -5 54 -59 Earnin

  51. Slide 51: Investments

    FINANCIAL TRANSPARENCY Investments (in mn €) 2008/09 2007/08 Δ Capex 384 494 -110 -22,2% Sugar 124 139 -15 -11,0% Special Products 60 166 -106 -63,7% CropEnergies 170 147 24 16,0% Fruit 31 43 -12 -28,7% Financial Assets 40 53 -13 -24,3% Sugar 26 53 -27 Special Products 2 0 2 CropEnergies 1 0 1 Fruit

  52. Slide 52: Development of net financial debt

    FINANCIAL TRANSPARENCY Development of net financial debt due to … (in mn €) „ Temporary charges of transition period within the „ High level of investments for EU sugar market regime (Segment sugar) the last time – completion of capacity enlargement „ Payments to the EU restructuring fund CropEnergi

  53. Slide 53: Return on Capital Employed (RoCE)

    FINANCIAL TRANSPARENCY Return on Capital Employed (RoCE) 2008/09 2007/08 2008/09 (in mn €) RoCE RoCE Op. Ergebnis Cap. Employed Südzucker Group 5,2% 4,7% 258 4.923 Sugar 5,0% 2,2% 137 2.736 Special Products 8,4% 9,0% 108 1.287 CropEnergies 8,2% 10,0% 18 221 Fruit * neg. 5,6% -5 679 * Adjustment segm

  54. Slide 54: Balance sheet ratios

    FINANCIAL TRANSPARENCY Balance sheet ratios (in mn €) 28.02.2009 29.02.2008 Total assets 7.709 7.917 Equity 3.229 3.300 Equity ratio 41,9% 41,7% Net Financial Debt (NFD) 1.632 1.508 Gearing (NFD/Equity) 50,5% 45,7% Cashflow 504 498 NFD / Cashflow 3,2x 3,0x Goodwill 1.124 1.104 Property, plant, equip

  55. Slide 55: Balance sheet structure

    FINANCIAL TRANSPARENCY Balance sheet structure (in mn €) 28.02.2009 29.02.2008 (in mn €) 28.02.2009 29.02.2008 Intangible assets 1.181 15,3% 1.162 14,7% Equity attributable to shareholders of SZ AG 2.047 26,5% 2.041 25,8% Property, plant, equipement 2.569 33,3% 2.538 32,1% Hybrid capital 684 8,9% 68

  56. Slide 56: Conclusion: Annual Financial Statement 2008/09

    FINANCIAL TRANSPARENCY Conclusion: Annual Financial Statement 2008/09 „ Südzucker again obtain targets – in volatile energy and commodity markets – set at the beginning of the fiscal year, despite a significant deterioration of the economic environment in light of the financial and economic crises i

  57. Slide 57: Agenda

    FINANCIAL TRANSPARENCY Agenda 1. Overview and strategic objectives page 3 2. Development of Segments „ Sugar page 7 „ Special Products page 16 „ CropEnergies page 24 „ Fruit page 28 3. Financial Highlights H1 2009/10 page 32 4. Outlook page 39 5. Appendix „ Annual Financial Statement 2008/09 page 43

  58. Slide 58: Südzucker Group: Liquidity profile

    FINANCIAL TRANSPARENCY Südzucker Group: Liquidity profile Actual Actual Actual Actual Actual Actual Q1 2008/09 Q2 2008/09 Q3 2008/09 2008/09 Q1 2009/10 Q2 2009/10 (mn €) 31st. May 2008 31st. August 2008 30st. November 2008 28th. February 2009 31st. May 2009 31st. Aug. 2009 Net financial debt -1.920

  59. Slide 59: Maturity Profile further improved

    FINANCIAL TRANSPARENCY Maturity Profile further improved June 2010 6.25% Bond 2000/2010, 300 mn € February 2012 5.75% Bond 2002/2012, 500 mn € Syndicated Loan, 600 mn €, no covenants July 2012 „ margin max. 35 bp, short-term borrowing facility 1 week < 1 year „ volume 2009/10 Q2: 0 mn € April 2014 5

  60. Slide 60: Agenda

    FINANCIAL TRANSPARENCY Agenda 1. Overview and strategic objectives page 3 2. Development of Segments „ Sugar page 7 „ Special Products page 16 „ CropEnergies page 24 „ Fruit page 28 3. Financial Highlights H1 2009/10 page 32 4. Outlook page 39 5. Appendix „ Annual Financial Statement 2008/09 page 43

  61. Slide 61: Südzucker Group: Long-term development of key figures

    FINANCIAL TRANSPARENCY Südzucker Group: Long-term development of key figures Pre-Reform Transition period Actual Actual Actual Actual Actual Actual Outlook (in mn €) 2003/04 2004/05 2005/06 2006/07 2007/08 2008/09 2009/10e Revenues 4.575 4.827 5.347 5.765 5.780 5.871 ~ 5.900 EBITDA 677 723 672 682 4

  62. Slide 62: Agenda

    FINANCIAL TRANSPARENCY Agenda 1. Overview and strategic objectives page 3 2. Development of Segments „ Sugar page 7 „ Special Products page 16 „ CropEnergies page 24 „ Fruit page 28 3. Financial Highlights H1 2009/10 page 32 4. Outlook page 39 5. Appendix „ Annual Financial Statement 2008/09 page 43

  63. Slide 63: Segment Sugar: Campaign SMY 2008/09

    FINANCIAL TRANSPARENCY Segment Sugar: Campaign SMY 2008/09 „ Beet growers: 47,800 (59,200) „ Beet acreage: 370,100 (438,500) ha „ Sugar factories (incl. refineries): 33 (41) „ Beet processing: 25.0 (28.2) mn tons „ Sugar production: 4.2 (4.6) mn tons z thereof from beets: 3.9 (4.3) mn tons z thereof

  64. Slide 64: Südzucker well positioned in Beet Belt

    FINANCIAL TRANSPARENCY Südzucker well positioned in „Beet Belt“ Poland Germany Belgium Czech Republic Moldova Slovakia Austria France Hungary Romania Südzucker Group, page 64

  65. Slide 65: EU sugar market regime: Development of factory margin

    FINANCIAL TRANSPARENCY EU sugar market regime: Development of factory margin* Sugar marketing year (Oct. - Sep) 2005/06 2006/07** 2007/08** 2008/09*** 2009/10*** Δ cum. I. Reference price, Restructuring levy, Margin Reference price (consumer level) €/t S 632 632 632 542 404 -228 -36% Restructuring l

  66. Slide 66: Development of EU quota renouncements

    FINANCIAL TRANSPARENCY Development of EU quota renouncements (in mn t) n Sluggish quota renouncements: 5.8 6.0 5.6 Temporary withdrawal of 2 mn t o EU incentive scheme works: 4.2 As of March, 31st 2008 5.6 mn t of quota were renounced p As of January, 31st 2009 5.8 mn t of quota were 3.4 renounced 2

  67. Slide 67: Segment Sugar: Adaptation of factory structures

    FINANCIAL TRANSPARENCY Segment Sugar: Adaptation of factory structures 52 46 45 42 41 33 32 150 148 40 146 144 142 140 138 136 134 132 130 128 20 126 124 122 120 118 116 114 112 0110 108 106 104 102 100 98 96 94 92 90 88 86 13.812 -20 84 82 80 78 76 74 72 12.001 11.678 70 68 66 64 137 142 10.885 10.

  68. Slide 68: Segment Sugar: Cost reduction measures

    FINANCIAL TRANSPARENCY Segment Sugar: Cost reduction measures (in mn €) Measures Cost Savings p.a. cash non cash Total fully effective „ Factory closures -106 -105 -211 72 „ Austria: Hohenau 18 2007/08 „ Slovakia: Sobota 46 2009/10 „ Germany: Groß Gerau, Regensburg 8 2010/11 „ Belgium: Brugelette; H

  69. Slide 69: Quotation for sugar in € / ton

    FINANCIAL TRANSPARENCY Price development for raw and white sugar (NYMEX, LIFFE) „ Successful EU restructuring process leads EU 450 into no.2 position as sugar importer behind Russia 400 „ Additionally, India changed from an important Quotation for sugar in € / ton export into an important import mar

  70. Slide 70: Bioethanol: EU promotes potential

    FINANCIAL TRANSPARENCY Bioethanol: EU promotes potential EU mandatory blending: EU-Commission estimate Development of grain volumes „ 5.75% (energy) until 2010 Manadatory blending of 5.75% within EU member states Grain 2020e z Germany: Biofuel quota law: increase of 5.25% (2009) to 6.25% (2010) in m

  71. Slide 71: Bioethanol: The alternative fuel

    FINANCIAL TRANSPARENCY Bioethanol: The alternative fuel „ Convenient handling, comparable to fossil fuel z Liquid; using existing tanks and station infrastructure 9 z Easy filling under atmospheric pressure with existing security systems „ Established vehicle technology z Up to 10% (low blends) no m

  72. Slide 72: Price development of wheat and maize (MATIF, Paris)

    FINANCIAL TRANSPARENCY Price development of wheat and maize (MATIF, Paris) „ Strong demand of emerging countries 200 „ Decrease of global inventory levels 190 „ Hedge fund speculation 180  Generated hyperinflation in agricultural 170 raw material beginning of 2008 160 € / ton 150 140 130 „ Record h

  73. Slide 73: Segment Fruit: Production facilities

    FINANCIAL TRANSPARENCY Segment Fruit: Production facilities Südzucker Group, page 73

  74. Slide 74: Thank you for your attention

    FINANCIAL TRANSPARENCY Thank you for your attention … Contact Disclaimer Investor Relations This presentation contains forward-looking statements that reflect managements current views with respect to future events. The forward-looking statements involve certain risks and Nikolai Baltruschat uncerta

Südzucker Group — Non-Deal Roadshow (October 2009) on 6ix