Suedzucker Ag · XETR:SZU

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

75 slides from Suedzucker's roadshow presentation, Jun 9, 2009

  1. Slide 1: Südzucker Group Investor Roadshow – Brussels

    Südzucker Group Thomas Kölbl (CFO) Investor Roadshow – Brussels 9th June 2009

  2. Slide 2: Agenda

    FINANCIAL TRANSPARENCY Agenda 1. Overview and strategic objectives page 3 2. Financial Highlights page 7 3. Annual Financial Statement 2008/09 page 10 4. Development of Segments „ Sugar page 22 „ Special Products page 32 „ CropEnergies page 41 „ Fruit page 46 5. Outlook page 50 6. Appendix „ Long-te

  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 model

  4. Slide 4: 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% 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 „ Diversification via sig

  6. Slide 6: Agenda

    Agenda 1. Overview and strategic objectives page 3 2. Financial Highlights page 7 3. Annual Financial Statement 2008/09 page 10 4. Development of Segments „ Sugar page 22 „ Special Products page 32 „ CropEnergies page 41 „ Fruit page 46 5. Outlook page 50 6. Appendix „ Long-term development of key f

  7. Slide 7: Financial Highlights 2008/09

    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 products segment growth re

  8. Slide 8: 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

  9. Slide 9: Agenda

    FINANCIAL TRANSPARENCY Agenda 1. Overview and strategic objectives page 3 2. Financial Highlights page 7 3. Annual Financial Statement 2008/09 page 10 4. Development of Segments „ Sugar page 22 „ Special Products page 32 „ CropEnergies page 41 „ Fruit page 46 5. Outlook page 50 6. Appendix „ Long-te

  10. Slide 10: 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.

  11. Slide 11: 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

  12. Slide 12: 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

  13. Slide 13: 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

  14. Slide 14: 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

  15. Slide 15: 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

  16. Slide 16: 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

  17. Slide 17: 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

  18. Slide 18: Südzucker-Group: Liquidity profile

    FINANCIAL TRANSPARENCY Südzucker-Group: Liquidity profile 2007/08 Q1 2008/09 Q2 2008/09 Q3 2008/09 2008/09 (mn €) 29th Febr 2008 31st May 2008 31st August 2008 30th Nov 2008 28th Febr 2009 Net financial debt -1.508 -1.920 -1.592 -1.618 -1.632 Cash & cash equivalents 394 289 432 392 413 Gross financi

  19. Slide 19: 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

  20. Slide 20: 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

  21. Slide 21: Agenda

    FINANCIAL TRANSPARENCY Agenda 1. Overview and strategic objectives page 3 2. Financial Highlights page 7 3. Annual Financial Statement 2008/09 page 10 4. Development of Segments „ Sugar page 22 „ Special Products page 32 „ CropEnergies page 41 „ Fruit page 46 5. Outlook page 50 6. Appendix „ Long-te

  22. Slide 22: 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 (

  23. Slide 23: 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

  24. Slide 24: 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

  25. Slide 25: 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 …

  26. Slide 26: Segment Sugar: Development 2008/09 (I)

    FINANCIAL TRANSPARENCY Segment Sugar: Development 2008/09 (I) (in mn €) 2008/09 2007/08 Δ Revenues 3.320 3.464 -144 -4,2% EBITDA 255 213 43 20,0% EBITDA-Margin 7,7% 6,1% Operating profit 137 60 77 > 100 % Operating Margin 4,1% 1,7% Restructuring and special items 102 -20 123 - Income from operations

  27. Slide 27: Segment Sugar: Development 2008/09 (II)

    FINANCIAL TRANSPARENCY Segment Sugar: Development 2008/09 (II) Revenues (mn €) n Burden from continued 4-step decline of factory margin and prices 3.614 3.666 3.492 3.543 3.425 o Reduced charges (inventory write-down of 3.320 ~3.200 previous year) from the restructuring phase of 2003/04 2004/05 2005

  28. Slide 28: 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

  29. Slide 29: 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

  30. Slide 30: 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

  31. Slide 31: Agenda

    FINANCIAL TRANSPARENCY Agenda 1. Overview and strategic objectives page 3 2. Financial Highlights page 7 3. Annual Financial Statement 2008/09 page 10 4. Development of Segments „ Sugar page 22 „ Special Products page 32 „ CropEnergies page 41 „ Fruit page 46 5. Outlook page 50 6. Appendix „ Long-te

  32. Slide 32: Segment Special Products: Development 2008/09 (I)

    FINANCIAL TRANSPARENCY Segment Special Products: Development 2008/09 * (I) * (in mn €) 2008/09 2007/08 Δ Revenues 1.427 1.283 144 11,2% EBITDA 172 164 8 4,6% EBITDA-Margin 12,1% 12,8% Operating profit 108 107 1 0,8% Operating Margin 7,6% 8,3% Restructuring and special items -4 -14 10 - Income from o

  33. Slide 33: Segment Special Products: Development 2008/09 (II)

    FINANCIAL TRANSPARENCY Segment Special Products: Development 2008/09 (II) Revenues (mn €) n Starch (incl. AGRANA bioethanol) CAGR: ~9 % „ Sales increase of starch products ~1.500 „ High raw material costs in H1 have been 1.427 passed on to a large extend 1.283 1.161 „ Low raw material costs in H2 1.

  34. Slide 34: Segment Special Products: Development 2008/09 (III)

    FINANCIAL TRANSPARENCY Segment Special Products: Development 2008/09 (III) Most important changes in 2008/09 Revenue split 2008/09 New segmental order since Q4 2008/09: „ CropEnergies as separate segment PortionPack „ Combination of AGRANA bioethanol and starch business within BENEO 7% division Star

  35. Slide 35: Special Products: Division BENEO at a glance

    FINANCIAL TRANSPARENCY Special Products: Division BENEO at a glance „ BENEO Group bundles Functional Food-operations „ Worldwide unchanging growing demand for Functional Food ingredients in view of increasing competition „ BENEO-Orafti (prebiotic fibres from chicory roots): Double-digit growth rates

  36. Slide 36: Special Products: Division Starch at a glance

    FINANCIAL TRANSPARENCY Special Products: Division Starch* at a glance „ 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

  37. Slide 37: Special Products: Division Freiberger at a glance

    FINANCIAL TRANSPARENCY Special Products: Division Freiberger at a glance „ 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 op

  38. Slide 38: Special Products: Division PortionPack Europe at a glance

    FINANCIAL TRANSPARENCY Special Products: Division PortionPack Europe at a glance „ 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 pa

  39. Slide 39: 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

  40. Slide 40: Agenda

    FINANCIAL TRANSPARENCY Agenda 1. Overview and strategic objectives page 3 2. Financial Highlights page 7 3. Annual Financial Statement 2008/09 page 10 4. Development of Segments „ Sugar page 22 „ Special Products page 32 „ CropEnergies page 41 „ Fruit page 46 5. Outlook page 50 6. Appendix „ Long-te

  41. Slide 41: Segment CropEnergies: Development 2008/09 (I)

    FINANCIAL TRANSPARENCY Segment CropEnergies: Development 2008/09 (I) (in mn €) 2008/09 2007/08 Δ Revenues 319 180 140 77,8% EBITDA 29 31 -2 -7,4% EBITDA-Margin 9,0% 17,2% Operating profit 18 22 -4 -17,3% Operating Margin 5,7% 12,2% Restructuring and special items -11 -5 -6 Income from operations (EB

  42. Slide 42: Segment CropEnergies: Development 2008/09 (II)

    FINANCIAL TRANSPARENCY Segment CropEnergies: Development 2008/09 (II) Revenues (mn €) n Sales increase CAGR: 60% > 400 „ Capacity extension Zeitz 319 „ Acquisition of Ryssen Alcools 180 147 o Decline in ethanol prices 61 p Higher grain costs 2005/06 2006/07 2007/08 2008/09 2009/10e q Start-up Biowan

  43. Slide 43: Segment CropEnergies: Development 2008/09 (III)

    FINANCIAL TRANSPARENCY Segment CropEnergies: Development 2008/09 (III) Capacity upgrading (nominal) „ One of the leading European biofuel producers (in k m3) z Focussed on bioethanol only (+300) z Biggest European plant (360,000 m3 /year) „ Expansion program (+100) Installation Wanze (>700) z Increa

  44. Slide 44: Segment CropEnergies: Outlook 2009/10

    FINANCIAL TRANSPARENCY Segment CropEnergies: Outlook 2009/10 „ General framework: Financial crisis and low energy prices Revenues „ Utilization of extended capacity: increase in production above 600,000 m³ p.a. „ Positive impulse through market entry France and increase of European bioethanol demand

  45. Slide 45: Agenda

    FINANCIAL TRANSPARENCY Agenda 1. Overview and strategic objectives page 3 2. Financial Highlights page 7 3. Annual Financial Statement 2008/09 page 10 4. Development of Segments „ Sugar page 22 „ Special Products page 32 „ CropEnergies page 41 „ Fruit page 46 5. Outlook page 50 6. Appendix „ Long-te

  46. Slide 46: Segment Fruit: Development 2008/09 (I)

    FINANCIAL TRANSPARENCY Segment Fruit: Development 2008/09 (I) (in mn €) 2008/09 2007/08 Δ Revenues 805 853 -48 -5,6% EBITDA 33 81 -48 -59,7% EBITDA-Margin 4,0% 9,5% Operating profit -5 44 -49 - Operating Margin neg. 5,1% Restructuring and special items 0 -5 5 - Income from operations (EBIT) -5 39 -4

  47. Slide 47: Segment Fruit: Development 2008/09 (II)

    FINANCIAL TRANSPARENCY Segment Fruit: Development 2008/09 (II) Revenues (mn €) Fruit preparations (share of revenues 80%) 915 „ Decrease in sales in light of economic crisis and intensified competition 12 months „ Pass-through of significantly increase raw material costs 853 780 805 > 800 541 Fruit

  48. Slide 48: Segment Fruit: Outlook 2009/10

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

  49. Slide 49: Agenda

    FINANCIAL TRANSPARENCY Agenda 1. Overview and strategic objectives page 3 2. Financial Highlights page 7 3. Annual Financial Statement 2008/09 page 10 4. Development of Segments „ Sugar page 22 „ Special Products page 32 „ CropEnergies page 41 „ Fruit page 46 5. Outlook page 50 6. Appendix „ Long-te

  50. Slide 50: 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 -1,900 Cash in restructuring aid -1,700 -1,672 -1,633 -1

  51. Slide 51: 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

  52. Slide 52: 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

  53. Slide 53: Agenda

    FINANCIAL TRANSPARENCY Agenda 1. Overview and strategic objectives page 3 2. Financial Highlights page 7 3. Annual Financial Statement 2008/09 page 10 4. Development of Segments „ Sugar page 22 „ Special Products page 32 „ CropEnergies page 41 „ Fruit page 46 5. Outlook page 50 6. Appendix „ Long-te

  54. Slide 54: 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

  55. Slide 55: Maturity Profile of capital markets instruments

    FINANCIAL TRANSPARENCY Maturity Profile of capital markets instruments 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 2008/09 Q4: 270 m

  56. Slide 56: 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

  57. Slide 57: Agenda

    FINANCIAL TRANSPARENCY Agenda 1. Overview and strategic objectives page 3 2. Financial Highlights page 7 3. Annual Financial Statement 2008/09 page 10 4. Development of Segments „ Sugar page 22 „ Special Products page 32 „ CropEnergies page 41 „ Fruit page 46 5. Outlook page 50 6. Appendix „ Long-te

  58. Slide 58: 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

  59. Slide 59: 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

  60. Slide 60: 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

  61. Slide 61: 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 June 2009, page 61

  62. Slide 62: 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

  63. Slide 63: 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

  64. Slide 64: 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.

  65. Slide 65: 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

  66. Slide 66: Quotation for sugar in € / ton

    FINANCIAL TRANSPARENCY Price development for raw and white sugar (NYMEX, LIFFE) „ Successful EU restructuring process leads EU 350 into no.2 position as sugar importer behind 330 Russia 310 „ Additionally, India changed from an important 290 Quotation for sugar in € / ton export into an important im

  67. Slide 67: 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

  68. Slide 68: 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

  69. Slide 69: 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

  70. Slide 70: 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

  71. Slide 71: Price development of wheat and maize

    FINANCIAL TRANSPARENCY Price development of wheat and maize (MATIF, Paris) 260 „ Strong demand of emerging countries „ Decrease of global inventory levels 240 „ Hedge fund speculation 220  Generated hyperinflation in agricultural 200 raw material beginning of 2008 € / ton 180 160 140 „ Record harve

  72. Slide 72: 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 42

  73. Slide 73: Segment Fruit – The only global producer

    FINANCIAL TRANSPARENCY Segment Fruit – The only global producer „ Overview Revenues (mn €) z Division Fruit preparations: World market leader 915 Customers: dairy, baking and ice cream industry z Division Fruit juice concentrates: Leading European producer 12 months (market leader in apple juice con

  74. Slide 74: Segment Fruit: Production facilities

    FINANCIAL TRANSPARENCY Segment Fruit: Production facilities Südzucker Group June 2009, page 74

  75. Slide 75: 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 (June 2009) on 6ix