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Südzucker profit misses consensus by 21.0% in fiscal Q2

Südzucker AG said its normalized net income for the fiscal second quarter ended Aug. 31 amounted to 12 euro cents per share, compared with the S&P Capital IQ consensus estimate of 15 cents per share.

EPS declined 74.4% year over year from 46 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €24.2 million, a decrease of 74.2% from €93.7 million in the prior-year period.

The normalized profit margin dropped to 1.4% from 4.8% in the year-earlier period.

Total revenue fell 12.7% year over year to €1.71 billion from €1.96 billion, and total operating expenses fell 5.8% on an annual basis to €1.68 billion from €1.79 billion.

Reported net income fell 77.2% year over year to €26.3 million, or 13 cents per share, from €115.5 million, or 57 cents per share.