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Nordzuker invests in decarbonization and new business

Nordzuker inwestuje w dekarbonizację i nowy biznes

The Management Board of Nordzucker AG announced that the 2023/24 financial year was the second best financial year in the company's history. The company intends to invest profits in decarbonization and a new branch of production.

Zero emissions and peas

The company is to allocate over EUR 300 million for investments aimed at decarbonizing its plants. According to the assumptions, all production is to be neutral in terms of CO2 emissions by 2050 at the latest. At the same time, the company wants to diversify its income and develop additional activities.

As Nordzuker's CEO, Lars Gorissen, revealed to the Agrarheute portal, the company is currently planning to develop the production of plant proteins for approximately EUR 100 million. This concerns the cultivation and processing of yellow peas for human consumption and the production of fodder and food for pets.

A record year

Sales at Nordzucker in the 23/24 financial year increased by 29.3 percent year on year – to EUR 2.9 billion, and profit before tax increased by EUR 210 million – to EUR 421 million. The Australian subsidiary of Mackay Sugar Ltd., producing cane sugar, contributed EUR 27 million to the group's result. The annual profit amounted to EUR 326 million, while in the previous year it was EUR 182 million. The company managed to increase its profit margin from 9 to 14 percent compared to the previous year. This is the result of high demand and high sugar prices, which offset the increase in the costs of raw material supplies, transport, logistics and energy.

Currently, however, we are observing a downward trend on the sugar market. However, Lars Gorissen expressed his belief that the company is well prepared for the economic downturn and that it will achieve satisfactory results even with lower sugar prices.

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