Suedzucker AG · XETR:SZU

Suedzucker — Südzucker — Analyst Conference May 28th 2008

70 slides from Suedzucker's conference presentation, May 28, 2008

  1. Slide 1: Analyst Conference May, 28th 2008

    Analyst Conference May, 28th 2008 Dr. Theo Spettmann (CEO), Thomas Kölbl (CFO)

  2. Slide 2: Analyst Conference May, 28th 2008

    Analyst Conference May, 28th 2008 Dr. Theo Spettmann (CEO)

  3. Slide 3: Overview

    FINANCIAL TRANSPARENCY Overview 1. Overview and strategic objectives page 4 2. Financial Highlights page 21 3. Annual Financial Statement 2007/08 page 24 4. Development of Segments page 36 „ Sugar page 36 „ Special Products page 46 „ Fruit page 53 5. Outlook page 57 6. Appendix page 61 Südzucker Ana

  4. Slide 4: Overview

    FINANCIAL TRANSPARENCY Overview „ Aim of quota renouncement of EU approximatively achieved; Südzucker renounces 21 % of quota „ Strong increase of industrial sugar business outside of quota „ Quota renouncement cuts deeply into the Group; closure of 9 factories „ CropEnergies with increased profit d

  5. Slide 5: Sales split 2007/08

    FINANCIAL TRANSPARENCY Sales split 2007/08 Group: 5.8 bn € Special Products: 1.5 bn € Fruit (14.8 %) Bioethanol PortionPack (20.3 %) (7.1 %) Sugar Special (59.9 %) Starch Freiberger Products (21.1 %) (29.5 %) (25.3 %) BENEO (22.0 %) Südzucker Analyst Conference May, 28th 2008, Dr. Theo Spettmann / T

  6. Slide 6: Reform EU sugar market regime: Quota renouncement

    FINANCIAL TRANSPARENCY Reform EU sugar market regime: Quota renouncement EU Target: Quota renouncement 6.0 mn t Quota renouncement Südzucker 1.3 mn t Renouncement 1st phase Renouncement 2.6 mn t 1st phase 0.6 mn t Renouncement sugar marketing year 2006/07 and 2007/08 0.4 mn t Renouncement sugar mark

  7. Slide 7: Sugar flows

    FINANCIAL TRANSPARENCY FINLAND Sugar flows ESTONIA SWEDEN LATVIA DENMARK LITHUANIA IRELAND NETHERLANDS GREAT BRITAIN POLAND BELGIUM CZECH REPUBLIC Surplus market SLOVAKIA Deficit market GERMANY FRANCE Balanced market AUSTRIA HUNGARY SLOVENIA ROMANIA ITALY BULGARIA PORTUGAL SPAIN GREECE Südzucker Ana

  8. Slide 8: Segment Sugar: Campaign 2007/08

    FINANCIAL TRANSPARENCY Segment Sugar: Campaign 2007/08 „ Beet growers: 59,200 „ Beet acreage: 438,500 ha „ Sugar factories: 41 (incl. refineries) „ Beet processing: 28.2 mn tons „ Sugar production: 4.6 mn tons z thereof from beets: 4.3 mn tons z thereof raw sugar raffination: 0.3 mn tons „ Beet acre

  9. Slide 9: Segment Sugar: Strategic outlook

    FINANCIAL TRANSPARENCY Segment Sugar: Strategic outlook „ Occupation of deficit markets by optimization of logistic chain „ Prioritization of long-term partnerships with LDC/ACP-countries „ Establishment of a sustainable industrial sugar business „ Further delivery of selected customers within tradi

  10. Slide 10: Division BENEO: Overview

    FINANCIAL TRANSPARENCY Division BENEO: Overview „ BENEO Group bundles Functional Food-operations „ Worldwide unchanging growing demand for Functional Food ingredients in view of increasing competition „ BENEO-Orafti: Double-digit growth rates with core products Inulin and Oligofructose „ BENEO-Palat

  11. Slide 11: Division BENEO: Strategic outlook

    FINANCIAL TRANSPARENCY Division BENEO: Strategic outlook „ Consequent usage of the potentials of BENEO Group „ Basis: Know-how in process and application technology, nutrition science, marketing and sales „ Extensive services and intensive collaboration with our customers „ Compensation of the contr

  12. Slide 12: Division Bioethanol: Overview

    FINANCIAL TRANSPARENCY Division Bioethanol: Overview 300 280 „ Price explosion in the agricultural market; 260 wheat prices up to just under 300 €/t 240 220 EUR/t 200 „ Successful year for CropEnergies despite 180 M. Wheat Matif difficult environment: Sales and profit rises 160 z Higher production a

  13. Slide 13: Division Bioethanol: Political framework (EU)

    FINANCIAL TRANSPARENCY Division Bioethanol: Political framework (EU) „ Draft Renewable-Energies-Directive z Mandatory blending for biofuels of 10 % until 2020 z Introduction of sustainability criteria (e. g. minimum greenhouse gas savings of at least 35 %) „ Consequences z Growing market for sustain

  14. Slide 14: Division Bioethanol: Strategic outlook

    FINANCIAL TRANSPARENCY Division Bioethanol: Strategic outlook „ Further clear commitment to bioethanol „ Realization of expansion programme z Capacity upgrade in Zeitz (Germany) z Start of operation in Wanze (Belgium) z Start of operation in Pischelsdorf (Austria) „ Promotion of the market for FFV (

  15. Slide 15: Special products segment: Overview/Strategic outlook

    FINANCIAL TRANSPARENCY Special products segment: Overview/Strategic outlook Production and distribution of chilled and deep frozen pizzas and snacks Æ full exploitation of the frozen food convenience market Provider of starch and starch products for the food industry and corn and potatoe based starc

  16. Slide 16: Fruit segment: Overview

    FINANCIAL TRANSPARENCY Fruit segment : Overview „ New organizational structure permits consequent implementation of synergies „ Revenues and operating profit improved on a comparable basis „ AGRANA Fruit (fruit preparations): increase of leading position in the world market by permanent organic grow

  17. Slide 17: Fruit segment: Strategic outlook

    FINANCIAL TRANSPARENCY Fruit segment: Strategic outlook „ Usage of a worldwide growth potential „ Consequent lifting of synergies in purchasing raw material, administration, research and development and distribution „ Capacity utilization and capacity optimization Tapping new markets and increasing

  18. Slide 18: Südzucker-Group: Outlook

    FINANCIAL TRANSPARENCY Südzucker-Group: Outlook „ Strategic leadership and clearly defined objectives as basis for success „ Taking advantage of the transition period within the sugar segment from the strong position as a European market leader „ Top positioned core products of the divisions of the

  19. Slide 19: Analyst Conference May, 28th 2008

    Analyst Conference May, 28th 2008 Thomas Kölbl (CFO)

  20. Slide 20: Overview

    Overview 1. Overview and strategic objectives page 4 2. Financial Highlights page 21 3. Annual Financial Statement 2007/08 page 24 4. Development of Segments page 36 „ Sugar page 36 „ Special Products page 46 „ Fruit page 53 5. Outlook page 57 6. Appendix page 61 Südzucker Analyst Conference May, 28

  21. Slide 21: Financial Highlights 2007/08

    FINANCIAL TRANSPARENCY Financial Highlights 2007/08 „ Group revenues comparable to last year at 5.8 bn € „ Decrease of group operating profit to 233 (419) mn € „ Cashflow maintained at high level of 498 (554) mn € „ Segment Sugar with lower operating profit of 61 (259) mn € in light of structural an

  22. Slide 22: Key figures Südzucker Group

    FINANCIAL TRANSPARENCY Key figures Südzucker Group (in mn €) 2007/08 2006/07 Δ Revenues 5.780 5.765 15 0,3% EBITDA 489 682 -193 -28,3% EBITDA-Margin 8,5% 11,8% Operating profit 233 419 -186 -44,4% Operating Margin 4,0% 7,3% Restructuring and special items -44 32 -76 Goodwill impairment loss 0 -580 5

  23. Slide 23: Overview

    FINANCIAL TRANSPARENCY Overview 1. Overview and strategic objectives page 4 2. Financial Highlights page 21 3. Annual Financial Statement 2007/08 page 24 4. Development of Segments page 36 „ Sugar page 36 „ Special Products page 46 „ Fruit page 53 5. Outlook page 57 6. Appendix page 61 Südzucker Ana

  24. Slide 24: Revenues by segment

    FINANCIAL TRANSPARENCY Revenues by segment (in mn €) 2007/08 2006/07 Δ Südzucker Group 5.780 5.765 15 0,3% Sugar 3.464 3.543 -79 -2,2% Special Products 1.463 1.308 155 11,9% Fruit 853 915 -62 -6,8% „ Sugar: Higher quota sugar sales and increase in the industrial sugar business cannot compensate for

  25. Slide 25: Revenue growth Special Products

    FINANCIAL TRANSPARENCY Revenue growth Special Products Revenue Development (mn €) „ Doubling of revenues (adjusted) (adjusted for disposal of inulin fructose business) 2.000 between 2004/05 and 2009/10 from 1 to 2 bn € 1.463 „ Approx. 80 % of growth generated in 1.308 Division Bioethanol and Starch

  26. Slide 26: Revenues by region 2007/08

    FINANCIAL TRANSPARENCY Revenues by region 2007/08 „ Approx. 70% of revenues generated abroad EU 15 „ Eastern Europe shows growth above average (48.0 %) „ New markets with dynamic growth z Segment Sugar: ¾ Supply of deficit markets Italy and Greece ¾ Raw sugar refinery in Bosnia to supply Balkans reg

  27. Slide 27: Operating profit by segment

    FINANCIAL TRANSPARENCY Operating profit by segment (in mn €) 2007/08 2006/07 Δ Südzucker Group 233 419 -186 -44,4% Sugar 61 259 -199 -76,7% Special Products 129 115 15 12,8% Fruit 44 46 -2 -4,6% „ Sugar: Phase of restructuring within European sugar market leads to structural effects, temporary high

  28. Slide 28: Earnings before income taxes

    FINANCIAL TRANSPARENCY Earnings before income taxes (in mn €) 2007/08 2006/07 Δ Operating income 233 419 -186 Restructuring and special items -44 32 -76 Goodwill impairment loss 0 -580 580 Income from operations (EBIT) 189 -129 318 Income from associated companies 23 1 23 Financial expense -93 -99 6

  29. Slide 29: Earnings per share

    FINANCIAL TRANSPARENCY Earnings per share (in mn €) 2007/08 2006/07 Δ Earnings before income taxes 120 -227 347 Taxes on income -20 -19 -2 Consolidated net earnings 100 -246 346 thereof Südzucker AG shareholders 20 -327 346 thereof hybrid capital 26 23 3 thereof other minority interest 54 58 -4 Earn

  30. Slide 30: Investments

    FINANCIAL TRANSPARENCY Investments (in mn €) 2007/08 2006/07 Δ Capex 494 378 116 30.7% Sugar 139 139 -1 -0.5% Special Products 312 190 122 63.9% Fruit 43 48 -5 -10.6% Financial Assets 53 62 -9 -15.1% Sugar 53 5 48 Special Products 0 28 -28 Fruit 0 29 -29 Subtotal 547 440 106 24.2% Purchase new sugar

  31. Slide 31: Development of net financial debt due to …

    FINANCIAL TRANSPARENCY Development of net financial debt due to … (in mn €) „ Temporary charges of transition period within the „ High level of investments EU sugar market regime (inventory build-up driven by extension in Segment Sugar Segment) Division Bioethanol „ High raw material costs in Specia

  32. Slide 32: Balance sheet ratios

    FINANCIAL TRANSPARENCY Balance sheet ratios (in mn €) 29.02.2008 28.02.2007 Total assets 7.917 7.932 Equity 3.300 3.362 Equity ratio 41.7% 42.4% Net Financial Debt (NFD) 1.508 811 Gearing (NFD/Equity) 45,7% 24,1% Cashflow 498 554 NFD / Cashflow 3,0x 1,5x Goodwill 1.104 1.109 * Property, plant, equip

  33. Slide 33: Return on Capital Employed (RoCE)

    FINANCIAL TRANSPARENCY Return on Capital Employed (RoCE) 2007/08 2006/07 2007/08 (in mn €) RoCE RoCE Op. Profit Cap. Employed Südzucker Group 4,7% 8,8% 233 5.005 Sugar 2,2% 9,6% 61 2.785 Special Products 9,0% 8,4% 129 1.438 Fruit 5,6% 5,9% 44 781 „ Sugar: Expected drop in RoCE through interaction of

  34. Slide 34: Conclusion: Annual Financial Statement 2007/08

    FINANCIAL TRANSPARENCY Conclusion: Annual Financial Statement 2007/08 „ Diversification can compensate for temporary charges within Sugar Segment on revenue, but not on profit level „ Segment Special Products shows significant increase in revenues and profits „ Segment Fruit* with continued revenue

  35. Slide 35: Overview

    FINANCIAL TRANSPARENCY Overview 1. Overview and strategic objectives page 4 2. Financial Highlights page 21 3. Annual Financial Statement 2007/08 page 24 4. Development of Segments page 36 „ Sugar page 36 „ Special Products page 46 „ Fruit page 53 5. Outlook page 57 6. Appendix page 61 Südzucker Ana

  36. Slide 36: Strong position within challenging EU environment …

    FINANCIAL TRANSPARENCY Strong position within challenging EU environment … Successful reform of sugar market regime Nordzucker „ In light of improved incentives EU- Tereos (9 %) (10 %) British manufacturers renounced an additional Sugar volume of 3.4 mn t of quota (9 %) „ In total, EU goal of 6 mn t

  37. Slide 37: … further developed

    FINANCIAL TRANSPARENCY … further developed Südzucker exploits new Südzucker quota share - sugar marketing year 2008/09 market opportunities… „ Systematic entry into new import markets and EU member states Poland „ Rumania and Bulgaria: Germany 25 % Belgium z Production and distribution businesses 72

  38. Slide 38: Segment Sugar: Development 2007/08 (I)

    FINANCIAL TRANSPARENCY Segment Sugar: Development 2007/08 (I) (in mn €) 2007/08 2006/07 Δ Revenues 3.464 3.543 -79 -2,2% EBITDA 213 413 -200 -48,4% EBITDA-Margin 6,1% 11,6% Operating profit 61 259 -199 -76,7% Operating Margin 1,7% 7,3% Restructuring and special items -20 -109 88 Goodwill impairment

  39. Slide 39: Segment Sugar: Development 2007/08 (II)

    FINANCIAL TRANSPARENCY Segment Sugar: Development 2007/08 (II) Revenues (in mn €) n Burden from continued 4-step decline of factory margin o Industrial sugar business not yet able to offset for omission of c-sugar business (06/07 last year of c-sugar export contingency) 3.492 3.614 3.666 3.543 3.425

  40. Slide 40: Segment Sugar: Quota renouncements

    FINANCIAL TRANSPARENCY Segment Sugar: Quota renouncements Südzucker- Restructuring Accounting Quota amount 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) 257 141 2008/09 2009/10 Total 872 4

  41. Slide 41: Segment Sugar: Special items 2007/08

    FINANCIAL TRANSPARENCY Segment Sugar: Special items 2007/08 276 -160 p o -167 q 61 n 31 40 Operating Income from Profit operations (EBIT) n Restructuring aid (net present value) p Restructuring measures sugar from „1st wave“ q Continuation of Marseille refinery o Disposal of sugar quotas Südzucker A

  42. Slide 42: Segment Sugar: Restructuring 2006/07 - 2008/09e

    FINANCIAL TRANSPARENCY Segment Sugar: Restructuring 2006/07 - 2008/09e in light of quota renouncement of 21% (872,000 t) (in mn €) 446 Depreciation 20 10 fixed assets Disposal 141 sugar (2nd 42 quotas wave) 64 22% 45% 406 305 181 (1st wave) 305 33% ~135 90 cash- effective Income from Write- Disposal

  43. Slide 43: Segment Sugar: Outlook 2008/09

    FINANCIAL TRANSPARENCY Segment Sugar: Outlook 2008/09 „ Decline in revenues due to quota renouncement of 0,87 mn t Revenues „ Reduction in temporary burden induced by market reform, e.g. Operating Profit Missing withdrawal in October 2007 „ Normalisation of European sugar market in the course of sug

  44. Slide 44: Segment Sugar: Main drivers 2009/10

    FINANCIAL TRANSPARENCY Segment Sugar: Main drivers 2009/10 „ End of restructuring phase „ No restructuring levy to be paid anymore „ Healthy supply and demand situation within European sugar market „ Challenge to compensate reduction of factory margin 253 €/t *) to 202 €/t **) via further cost redcu

  45. Slide 45: Overview

    FINANCIAL TRANSPARENCY Overview 1. Overview and strategic objectives page 4 2. Financial Highlights page 21 3. Annual Financial Statement 2007/08 page 24 4. Development of Segments page 36 „ Sugar page 36 „ Special Products page 46 „ Fruit page 53 5. Outlook page 57 6. Appendix page 61 Südzucker Ana

  46. Slide 46: Segment Special Products: Development 2007/08 (I)

    FINANCIAL TRANSPARENCY Segment Special Products: Development 2007/08 (I) (in mn €) 2007/08 2006/07 Δ Revenues 1.463 1.308 155 11,9% EBITDA 195 181 15 8,0% EBITDA-Margin 13,4% 13,8% Operating profit 129 115 15 12,8% Operating Margin 8,8% 8,8% Restructuring and special items -19 141 -160 Goodwill impa

  47. Slide 47: Segment Special Products: Development 2007/08 (II)

    FINANCIAL TRANSPARENCY Segment Special Products: Development 2007/08 (II) n Starch Revenues (mn €) „ Successful specialization strategy 2,000 „ Robust volume growth 1,463 „ Increase in raw material costs not yet with full impact 1,308 Others 1,139 1,088 Starch „ Partial transfer of higher raw materi

  48. Slide 48: Bioethanol: Completion of capacity build-up in 2008/09

    FINANCIAL TRANSPARENCY Bioethanol: Completion of capacity build-up in 2008/09 2005/06 2009/10e Zeitz (260,000 m³) Zeitz (300,000 m³) Zeitz Annex (60,000 m³) Loon-Plage (100,000 m³) Wanze (300,000 m³) Pischelsdorf (240,000 m³) Hungrana (25.000 m³) * Hungrana (80,000 m³) * CropEnergies AG AGRANA (* Jo

  49. Slide 49: Division Bioethanol: Confirmation of growth path

    FINANCIAL TRANSPARENCY Division Bioethanol: Comfirmation of growth path Revenue development (mn €) „ Economics 2007/08: CAGR: ~77 % 600 z Significant increase in revenues from 61 to 307 mn € over period of 2 years z Operating margin 8.7% (CropEnergies 11.8%) 307 206 „ Midterm perspective: 61 147 187

  50. Slide 50: Division Bioethanol: Sound political environment

    FINANCIAL TRANSPARENCY Division Bioethanol: Sound political environment „ EU admits unlimited support of biofuels: EU-Commission estimate Development of grain volumes z EU mandatory blending of 5.75% until 2010, directive suggests increase to 10% in Grain 2020e 2020 in mn t z Introduction of sustain

  51. Slide 51: Segment Special Products: Outlook 2008/09

    FINANCIAL TRANSPARENCY Segment Special Products: Outlook 2008/09 „ Continued dynamic growth of Bioethanol Division Revenues z Installation of plant in Pischelsdorf/Austria June 2008 z Installation of plant in Wanze/Belgium end of CY 2008 „ Significant increase in revenues in Starch Division (e.g. vi

  52. Slide 52: Overview

    FINANCIAL TRANSPARENCY Overview 1. Overview and strategic objectives page 4 2. Financial Highlights page 21 3. Annual Financial Statement 2007/08 page 24 4. Development of Segments page 36 „ Sugar page 36 „ Special Products page 46 „ Fruit page 53 5. Outlook page 57 6. Appendix page 61 Südzucker Ana

  53. Slide 53: Segment Fruit: Development 2007/08 (I)

    FINANCIAL TRANSPARENCY Segment Fruit: Development 2007/08 (I) (in mn €) 2007/08 2006/07 1) Δ Revenues 853 915 -62 -6,8% EBITDA 81 89 -8 -8,9% EBITDA-Margin 9,5% 9,7% Operating profit 44 46 -2 -4,6% Operating Margin 5,1% 5,0% Restructuring and special items -5 0 -5 Income from operations (EBIT) 39 46

  54. Slide 54: Segment Fruit: Development 2007/08 (II)

    FINANCIAL TRANSPARENCY Segment Fruit: Development 2007/08 (II) Segment Fruit Revenues (mn €) „ Adjusted for alignment of business year ending in 915 prior year (14 months), revenue and profit increase 12 Months Fruit preparations (share of revenue 80%) „ Stable volume growth 853 900 „ Time lag in tr

  55. Slide 55: Segment Fruit: Outlook 2008/09

    FINANCIAL TRANSPARENCY Segment Fruit: Outlook 2008/09 „ Division Fruit Preparations: Continued stable volume growth Revenues „ Division Fruit Juice Concentrates: Improvement in availability of raw material leads to increase in production „ Segment Fruit: Continued increase in volumes and revenues „

  56. Slide 56: Overview

    FINANCIAL TRANSPARENCY Overview 1. Overview and strategic objectives page 4 2. Financial Highlights page 21 3. Annual Financial Statement 2007/08 page 24 4. Development of Segments page 36 „ Sugar page 36 „ Special Products page 46 „ Fruit page 53 5. Outlook page 57 6. Appendix page 61 Südzucker Ana

  57. Slide 57: Südzucker Group: Outlook 2008/09

    FINANCIAL TRANSPARENCY Südzucker Group: Outlook 2008/09 „ Segment Sugar: Decline in light of quota renouncement (sugar Revenues marketing year 2008/09) „ Continued organic growth path within Special Prducts and Fruit Segments  Südzucker Group: ~ 5.6 – 5.8 bn € „ Segment Zucker with significant prof

  58. Slide 58: Südzucker Group: Outlook 2009/10

    FINANCIAL TRANSPARENCY Südzucker Group: Outlook 2009/10 „ Special Products and Fruit Segments with continued growth (share Revenues of group revenues of approx. 50%)  Südzucker Group: ~ 5.8 bn € Operating „ > 400 mn € Result Capex „ < 300 mn € (fixed assets) Südzucker Analyst Conference May, 28th 2

  59. Slide 59: Executive Summary

    FINANCIAL TRANSPARENCY Executive Summary Revenues As Segments Special Products and Fruit are expected to continue their sound growth path, we do not expect a revenue decline on group level until 2009/10 - despite lower revenue contribution from the Segment Sugar induced by necessary quota renounceme

  60. Slide 60: Overview

    FINANCIAL TRANSPARENCY Overview 1. Overview and strategic objectives page 4 2. Financial Highlights page 21 3. Annual Financial Statement 2007/08 page 24 4. Development of Segments page 36 „ Sugar page 36 „ Special Products page 46 „ Fruit page 53 5. Outlook page 57 6. Appendix page 61 Südzucker Ana

  61. Slide 61: Segment Sugar: Factory Located in „Beet Belt“

    FINANCIAL TRANSPARENCY Segment Sugar: Factory Located in „Beet Belt“ Poland Germany Belgium Czech Republic Moldova Slovakia Austria France Romania Hungary White sugar yield in the EU 2006/07 t white sugar /ha Südzucker EU sugar production Ø EU-15 11,8 8,5 Ø EU-12 7,7 6,2 Ø EU-27 9,7 7,4 Südzucker An

  62. Slide 62: EU sugar market regime: Development of factory margin

    FINANCIAL TRANSPARENCY EU sugar market regime: Development of factory margin Sugar marketing year 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 levy €/t S - 126 17

  63. Slide 63: Development of EU quota renouncements (in mn t)

    FINANCIAL TRANSPARENCY Development of EU quota renouncements (in mn t) 6.0 5.6 n Sluggish quota renouncements: Temporary withdrawal of 2 mn t 4.2 o EU incentive scheme works: As of March, 31st 2008 5.6 mn t of quota are renounced 3.4 2.0 p Last possibilty for compensated voluntary quota renouncement

  64. Slide 64: Segment Sugar: Adaption of factory structure

    FINANCIAL TRANSPARENCY Segment Sugar: Adaption of factory structure 52 46 45 14 42 41 32 40 12 20 10 0 8 13,812 -20 6 12,001 11,678 -40 10,885 10,043 9,450 4 -60 2 -80 0 -100 2003 2004 2005 2006 2007 2008 Employees * Factories ** * including reductions in the context of factory closures ** beet suga

  65. Slide 65: Segment Sugar: Cost reduction measures (in mn €)

    FINANCIAL TRANSPARENCY Segment Sugar: Cost reduction measures (in mn €) Measures Cost Savings p.a. cash non cash Total fully effective „ Factory closures -112 -93 -204 64 „ Austria: Hohenau 18 2007/08 „ Slovakia: Sobota 46 2009/10 „ Germany: Groß Gerau, Regensburg „ Belgium: Brugelette „ France: Gui

  66. Slide 66: Precondition for acceptance of biofuels: Advantage for bioethanol as a fuel

    FINANCIAL TRANSPARENCY Precondition for acceptance of biofuels or: Advantage for bioethanol as a 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 ve

  67. Slide 67: Division Bioethanol with anchor investment CropEnergies

    FINANCIAL TRANSPARENCY Division Bioethanol with anchor investment CropEnergies … „ …is well positioned in the European Bioethanol market „ …has strong brands „ …uses various European grains + sugar thick juice as raw material (multi feedstock) „ …hedges 30 % of grain exposure with its by-product Pro

  68. Slide 68: Segment Fruit: Production sites

    FINANCIAL TRANSPARENCY Segment Fruit: Production sites Südzucker Analyst Conference May, 28th 2008, Dr. Theo Spettmann / Thomas Kölbl, page 68

  69. Slide 69: Balance Sheet Structure

    FINANCIAL TRANSPARENCY Balance Sheet Structure (in mn €) 29.02.2008 28.02.2007 (in mn €) 29.02.2008 28.02.2007 Intangible assets 1.162 14,7% 1.340 16,9% Equity attributable to shareholders of SZ AG 2.041 25,8% 2.107 26,6% Property, plant, equipement 2.538 32,1% 2.344 29,5% Hybrid capital 684 8,6% 68

  70. Slide 70: Thank you for your attention …

    FINANCIAL TRANSPARENCY Thank you for your attention … Contact Disclaimer Head of 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

Südzucker — Analyst Conference May 28th 2008 on 6ix