DZ Bank Equity Conference

Thomas Kölbl (CFO)

Frankfurt, 21-22 November 2023

Disclaimer

This presentation contains forward looking statements. The statements are based on current assumptions and estimates made by the executive board and information currently available to its members. The forward looking statements are not to be viewed as guarantees of the future developments and results presented therein. Future developments and results are in fact dependent on a variety of factors and are subject to various risks and imponderables. They are based on assumptions that could in fact prove to be invalid. The risk and opportunity report in the 2022/23 annual report on pages 96 to 106 presents an overview of the risks. We assume no obligation to update the forward-looking statements made in this presentation.

This presentation includes percentage and number rounding. Typing and printing errors reserved. In addition, all disclaimers published on the Südzucker website apply.

Written and visual value statements are standardized as follows:

➔

/

/

/

± 1 %

± 1-4 %

± 4-10 %

> ± 10 %

stable

slight

moderate

significant

2

Südzucker Group

FINANCIAL TRANSPARENCY

Agenda

Overview and Strategy

Executive Summary

Financial Highlights H1 2023/24

Capital Market and Financing

Development

  • Non-sugarsegments
  • Sugar segment Outlook 2023/24

Appendix

3

Südzucker Group

FINANCIAL TRANSPARENCY

Südzucker Group at a glance*

23 %

34 %

Group Revenues

9.5 bn €

15 %

16 % 13 %

Special products CropEnergies Starch Fruit Sugar

  • Global operating German food group with long-standing corporate history and diversified business model:
    • 1837: Foundation of first sugar company
    • 1926: Foundation of Süddeutsche Zucker-AG
    • ~ 100 production facilities
    • ~ 18,300 employees, worldwide
  • Majority shareholder / Key shareholders:
    • SZVG: 61 %
    • Zucker Invest GmbH: 10 %
  • Stock exchange listing in Germany
    • SDAX-member
    • Trading volume: ~ 0.5 mn shares/day
  • Sustainable investment grade rating

*Financial year 2022/23

4

Südzucker Group

FINANCIAL TRANSPARENCY

Südzucker Group - Key ratios 2022/23

Revenues

9.5 (7.6) bn €

Sugar:

3.2 (2.6) bn €

Non-sugar:

6.3 (5.0) bn €

EBITDA

1.070 (692) mn €

Sugar: 381 (133) mn €

Non-sugar: 689 (559) mn €

Operating Result

704 (332) mn €

Sugar: 230 (-21) mn €

Non-sugar: 474 (353) mn €

Cash flow

927 (560) mn €

Net Financial Debt

1,864 (1,466) mn €

Net Financial Debt/Cash flow

2.0x (2.6x)

5

Südzucker Group

FINANCIAL TRANSPARENCY

Return on Capital Employed (RoCE)

Capital Employed Group (mn €)

5,873

5,877

5,791

6,012

6,650

6,072

6,388

6,222

6,325

7.095

6,231

RoCE

2013/14

2014/15

2015/16

2016/17

2017/18

2018/19

2019/20

2020/21

2021/22

2022/23

Ø 10 years

Group

10.6 %

3.1 %

4.2 %

7.1 %

6.7 %

0.4 %

1.8 %

3.8 %

5.3 %

9.9 %

5.3 %

Sugar

13.5 %

0.2 %

-2.5 %

1.9 %

3.7 %

-9.0 %

-8.4 %

-4.6 %

-0.7 %

7.2 %

0.2 %

Non-sugar

7.0 %

6.6 %

12.1 %

13.4 %

9.8 %

8.3 %

10.4 %

10.6 %

9.8 %

12.2 %

9.7 %

Special products

6.0 %

8.7 %

12.4 %

13.9 %

7.6 %

8.1 %

8.4 %

9.7 %

6.7 %

5.2 %

8.4 %

CropEnergies

6.4 %

-2.2 %

17.7 %

20.4 %

15.9 %

7.2 %

23.1 %

23.0 %

26.1 %

46.9 %

18.5 %

Starch

8.9 %

10.0 %

14.5 %

15.2 %

13.7 %

8.4 %

11.4 %

8.8 %

11.7 %

12.7 %

11.1 %

Fruit

8.1 %

8.4 %

7.5 %

8.3 %

9.0 %

9.3 %

6.8 %

6.4 %

6.0 %

6.2 %

7.6 %

6

Südzucker Group

FINANCIAL TRANSPARENCY

Portfolio benefits from long-term megatrends…

10.000.000

8.000.000

6.000.000

4.000.000

2.000.000 1963

population growth worldwide

sugar consumption worldwide (in tonnes)

1973 1983 1993 2003 2013 2023

220.000

180.000

140.000

100.000

60.000

20.000

Source: United Nations, S&P Global

12.000

emerging markets (in USD)

worldwide (in USD)

Set

8.000

Data

Macroeconomic

4.000

ERS International

0

1983

1993

2003

2013

2023

Source:

120.000

oil consumption (in bbl per day)

120

crude oil price (in USD per bbl)

80.000

80

40.000

40

1.200

800

400

global animal feed production (in mn t)

0

0

BP, EIA

1973

1983

1993

2003

2013

2023

Source:

0

USDA

1973

1983

1993

2003

2013

2023

Source:

7

Südzucker Group

FINANCIAL TRANSPARENCY

… with volatile and cyclical market conditions

White sugar (€/t)

Wheat and Maize (€/t)

Source: Refinitiv, ICE Europe

Soure: Refinitiv, Euronext Paris / MATIF

Ethanol (€/m³)

Source: Refinitiv, NYMEX

EUR/USD

Source: Refinitiv, Multiple Contributors

3M-Euribor (%)

Source: Refinitiv, Contributor, internal data

Brent (USD/barrel)

and Gas (USD/MWh)

Source: Refinitiv, Banking Federation of the EU

8

Südzucker Group

FINANCIAL TRANSPARENCY

Agenda

Overview and Strategy

Executive Summary

Financial Highlights H1 2023/24

Capital Market and Financing

Development

  • Non-sugarsegments
  • Sugar segment Outlook 2023/24

Appendix

9

Südzucker Group

FINANCIAL TRANSPARENCY

Executive Summary (I)

2022/23: Significant improvement in cash flow and financial ratios

  • Diversified group EBITDA
  • Despite capex increase to 400 (332) mn €, further significant increase in structural cash flow from 360 to 670 mn €
  • Very comfortable liquidity position at 2.2 (2.2) bn €
  • Successful placement of first Südzucker sustainability bond in October 2022 (400 mn €)
  • Solid financing without refinancing requirements until 2025
  • Significant improvement in financial ratios 4 years in a row
  • Consolidated net income after minority interests 395 (66) mn €
  • Dividend of 0.70 (0.40) € per share takes account of overall positive performance in 2022/23 and outlook for 2023/24

94

118

Sugar

381

Special products

EBITDA

CropEnergies

1,070 mn €

294

Starch

183

Fruit

Net financial debt/Cash flow

3.0x

4.2x

3.2x

2.6x

2.0x

2018/19 2019/20 2020/21 2021/22 2022/23

10

Südzucker Group

FINANCIAL TRANSPARENCY

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Südzucker AG published this content on 20 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 November 2023 08:25:08 UTC.