Südzucker AG

Legal Proceedings Report • Feb 18, 2014

News Details

Ad-hoc | 18 February 2014 14:18

Südzucker AG Mannheim/Ochsenfurt:

Südzucker AG Mannheim/Ochsenfurt / Key word(s): Legal Matter/Miscellaneous

18.02.2014 14:18

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Federal Cartel Authority of Germany fines Südzucker
European Antitrust Authority stops proceedings

Mannheim, 18 February 2014

The Federal Cartel Authority of Germany has closed the anti-trust
proceedings against Südzucker AG Mannheim/Ochsenfurt, Mannheim, in
connection with collusions, lasting until 2009, with other German producers
in Germany. On 18 February 2014, the notice about an imposed fine of EUR
195.5 million has been received. After due consideration of all aspects
Südzucker has accepted the notice in a settlement agreement. In order to
obtain legal security and planning reliability, the key witness based
proceedings - pending for almost five years - can be closed. The settlement
agreement has also led to a significant fine reduction.

On 3 February 2014, the European Antitrust Authority has stopped the
proceedings against European sugar companies. This follows a European
investigation of European sugar companies, including Südzucker, since end
of April 2013.

Based on the business development up to and including December 2013,
projections for current fiscal year 2013/14 (1 March 2013 to 28 February
2014) can be confirmed. For fiscal year 2013/14 Südzucker continues to
expect revenues of about EUR 7.6 (Prior year: 7.9) million. The fine does
not impact operating profit, but the result from restructuring and special
items. Operating profit is still expected to reach about EUR 650 (previous
year: 974) million.

Including provision liquidation, the fine will burden the result from
restructuring and special items in the current fiscal year with about EUR
155 million. A positive effect to the result from restructuring and special
items will result out of EUR 40 million refund of overpaid production
levies in the sugar marketing years 2001/02 to 2005/06. Both issues will
lead in total to a burden in the income from operations (EBIT) in fiscal
year 2013/14.

In light of the fine, net financial debt is expected in a range of EUR 500
to 600 million, as of 28 February 2014.

The annualized effect out of the reduced sugar marketing result and the
higher fix costs following the lower sugar production volume of sugar
campaign 2013 will burden operating result of segment sugar in financial
year 2014/15 as well as the further deteriorating market environment in the
European sugar and bioethanol markets.

Südzucker AG Mannheim/Ochsenfurt
Central Investor Relations Department
Nikolai Baltruschat
Theodor-Heuss-Anlage 12
68165 Mannheim
Phone: +49 621 421-240
Fax: +49 621 421-449
Investor.relations@suedzucker.de

The Südzucker Group

Südzucker, with its sugar, special products, CropEnergies and fruit
segments, is one of the leading companies in the food industry. In the
traditional sugar business, the group is the world market leader, with 29
sugar factories and three refineries, extending from France in the west via
Belgium, Germany and Austria, through to Poland, the Czech Republic,
Slovakia, Romania, Hungary, Bosnia and Moldova in the east. The special
products segment, consisting of the functional food (BENEO), chilled/frozen
products (Freiberger), portion packs (PortionPack Europe) and starch
businesses, is an important growth driver. The CropEnergies segment covers
the bioethanol activities in Germany, Belgium, France and the UK. In the
fruit segment, the group operates internationally, is the world market
leader for fruit preparations and is a leading supplier of fruit juice
concentrates in Europe.

In 2012/13, the group employed 17,940 persons and generated revenues of
about EUR 7.9 billion.

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Language: English
Company: Südzucker AG Mannheim/Ochsenfurt
Theodor-Heuss-Anlage 12
68165 Mannheim
Germany
Phone: +49 (0)621 - 421-530
Fax: +49 (0)621 - 421-7530
E-mail: investor.relations@suedzucker.de
Internet: www.suedzucker.de
ISIN: DE0007297004, XS0606202454 DE000A1AJLE6 XS0222524372
WKN: 729700, A1GNRQ A1AJLE A0E6FU,
Indices: MDAX
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
Standard), Hamburg, München, Stuttgart; Freiverkehr in
Hannover

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