Südzucker AG said its normalized net income for the fiscal first quarter ended May 31 came to 17 euro cents per share, compared with the S&P Capital IQ consensus estimate of 33 cents per share.
EPS fell 66.4% year over year from 52 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €40.0 million, a decrease of 62.3% from €106.1 million in the prior-year period.
The normalized profit margin declined to 2.3% from 5.4% in the year-earlier period.
Total revenue fell 10.4% on an annual basis to €1.77 billion from €1.98 billion, and total operating expenses declined on an annual basis to €1.69 billion from €1.77 billion.
Reported net income fell 57.9% from the prior-year period to €55.4 million, or 24 cents per share, from €131.5 million, or 64 cents per share.