Südzucker AG said its normalized net income for the fiscal second quarter ended Aug. 31 was 9 euro cents per share, compared with the S&P Capital IQ consensus estimate of 14 cents per share.

EPS decreased 21.7% year over year from 12 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €18.9 million, a decline of 21.7% from €24.2 million in the year-earlier period.

The normalized profit margin dropped to 1.2% from 1.4% in the year-earlier period.

Total revenue totaled €1.70 billion, compared with €1.71 billion in the prior-year period, and total operating expenses decreased on an annual basis to €1.63 billion from €1.68 billion.

Reported net income decreased 5.3% on an annual basis to €24.9 million, or 12 cents per share, from €26.3 million, or 13 cents per share.