Nordzucker AG Interim Report Financial Year 2011/2012 Nine months March 1 – November 30, 2011
Group figures and ratios
Nordzucker nine months 2011/12
Group figures and key ratios nine months 2011/2012
Operating business 9 months 9 months 2011/2012 2010/2011
Change absolute
Revenues
EUR m
1,477
1,361
116
Total revenues
EUR m
1,557
1,141
416
Gross income
EUR m
537
476
61
EBITDA
EUR m
272
205
67
EBIT
EUR m
207
134
73
Net income
EUR m
139
64
75
Cash flow from operating activities
EUR m
291
431
-140
Investments in property, plant and equipment and intangible assets
EUR m
46
49
-3
Balance sheet as of November 30 9 months 9 months 2011/2012 2010/2011
Change absolute
Balance sheet total
EUR m
2,091
2,117
-26
Equity
EUR m
912
779
133
%
44
37
7
Debt capital
EUR m
1,179
1,338
-159
Financial liabilities
EUR m
195
392
-197
Cash and cash equivalents
EUR m
33
204
-171
Net debt (Cash and cash equivalents less financial liabilities)
EUR m
162
188
-26
Equity ratio
Structure figures 9 months 9 months 2011/2012 2010/2011
Northern Europe Sugar factories Sugar refineries Central Europe Sugar factories Liquid sugar factories Bioethanol plants Osteuropa Sugar factories Sugar refineries
Change absolute
5 2
5 2
– –
5 2 1
5 2 1
– – –
3 1
3 1
– –
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2
Facts and trends
Nordzucker nine months 2011/12
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Nordzucker facts and trends Contents The Management Team
5
Letter from the Management Board
6
Sites in Europe
7
Management Report
8
Earnings, net assets and financial position
8
Supplementary report
10
Outlook
10
Income statement
11
Statement of comprehensive income
11
Cash flow statement
12
Balance sheet
13
Statement of changes in shareholders’ equity
15
Financial calendar
16
Further clear earnings improvement Nordzucker made active use of the positive market environment in recent months, thereby achieving another sharp increase in earnings. This gratifying trend was amplified by the implementation of cost-cutting measures from the long-term efficiency programme. The company also profited from the correct strategic decision to dispose of unprofitable investments – even at the cost of short-term losses – and thereby to concentrate on the core business of sugar. In the first nine months of the 2011/2012 financial year, Nordzucker reported revenues of EUR 1,476.9 million and net income of EUR 139.0 million. Compared with the same period last year, this represents an increase in revenues of around 8.5 per cent. Earnings more than doubled compared with the same period a year ago.
3
Facts and trends
Nordzucker nine months 2011/12
Nordzucker continues to convert non-quota sugar In view of the tight supply situation in the EU market for quota sugar, the European Commission gave its approval to the conversion of 400,000 tonnes of non-quota sugar into quota sugar for the food industry in early December 2011. All sugar companies were able to apply for a conversion amount of 50,000 tonnes. As applications far exceeded the available 400,000 tonnes, only around 20 per cent of each application was actually approved. The European Commission also enabled additional imports by opening an import tender for raw sugar destined for refining. Importers were required to place a bid for the import duties. However, the European Commission set the duties to be paid by importers at a level which resulted in a further price increase in the EU internal market. Textbook campaign comes to a close Excellent weather conditions ensured a very good harvest and high yields in 2011. To date, the factories have run without any noteworthy technical hitches – primarily thanks to the professional preparation for an unusually long campaign. At most Nordzucker sites the campaign will be over by 18 January. NP Sweet launches stevia products on the market On 12 November, the European Commission approved the use of stevia, a sweetener produced from natural raw materials, for food and drinks. The zero-calorie sweetener is not a direct competitor for sugar, but rather for artificial sweeteners. This gives rise to an interesting sales market, especially for combinations of stevia and sugar. The company NP Sweet, in which Nordzucker holds a 50 per cent stake, has now begun to develop and distribute stevia and stevia/sugar blends in the EU together with customers. Criminal Court declines to open proceedings against former Supervisory Board members According to a press release from the Braunschweig District Court dated 3 January 2012, the Commercial Division of the Criminal Court has dismissed an application lodged last year by the public prosecutor to open proceedings against two former Supervisory Board members on charges of embezzlement in connection with the billing of attendance fees. The company explicitly welcomes this ruling, especially as the court held that the disputed meetings took place in the interests of the company.
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4
The Management Team
Nordzucker nine months 2011/12
Team at anthe dertop: Spitze: A Starkes strong team Mats Liljestam (born in 1959)
Dr Michael Noth (born in 1962)
Hartwig Fuchs (born in 1959)
Dr Niels Pörksen (born in 1963)
Axel Aumüller (born in 1957)
●
● Chief Financial Officer at Nordzucker AG
● Chief Executive Officer at Nordzucker AG
● Chief Agricultural Officer at Nordzucker AG
● Chief Operating Officer at Nordzucker AG
Chief Marketing and Sales Officer at Nordzucker AG
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5
Letter from the Management Board
Nordzucker nine months 2011/12
Dear Shareholders, After nine months of the financial year 2011/2012 and shortly before the completion of the campaign, we can already report a very positive result. In terms of volumes and sugar content the beet harvest will almost certainly have set new records, and the resulting unusually long campaign has so far gone off without any significant technical disruption. There are good reasons for that. We have applied the experience gained in recent long campaigns, raising the maintenance budget again compared with prior years for instance, to reflect the greater demands that longer campaigns make of our machinery. In addition, we have focused our capital expenditure very sharply and were thus able to alleviate technical weaknesses that existed in the past. Finally, the weather this year meant that the factories were able to run more evenly and capacity utilisation could be optimised. Beet logistics also benefited from the weather conditions and went off very smoothly. Developments on the sugar market were very positive for us as well. Supplies on the market for quota sugar in the EU remained relatively tight and we were able to take good advantage of the resulting market opportunities. We assume that the tight supply situation for quota sugar will continue in the months ahead, as the steps taken to date by the European Commission will not be sufficient. The approval of 400,000 tonnes of non-quota sugar for the EU food market and the additional imports from the import tender for raw sugar for refining are based on an analysis carried out by the European Commission that puts the deficit in the EU quota sugar market at around 700,000 tonnes. Based on our own analysis we are assuming that the deficit is much larger. We have exploited our market opportunities systematically in recent months, which is the main reason for our very good earnings in the first nine months of the financial year. Shedding unprofitable investments and concentrating on our core business has made a decisive contribution to the positive earnings development as well. We are now working steadily to improve our efficiency, harmonise and optimise our business processes, integrate our IT environment and intensify the cooperation between colleagues in different countries. Another of our goals is the sustainable improvement of beet yields. This year, the first farmers have already recorded a sugar yield of 20 tonnes per hectare. This confirms our objective of enabling 20 per cent of our farmers to generate a sustainable sugar yield of 20 tonnes per hectare by the year 2020. All these activities serve to prepare us for tougher competition in our very volatile market. They are the groundwork that will allow us to continue on our long-term success path. We intend to use our current strength as the second largest producer in the EU sugar market to keep growing and to expand our market position. Yours sincerely, Nordzucker AG The Executive Board
Hartwig Fuchs
Axel AumĂźller
Dr Michael Noth
Dr Niels PĂśrksen
Mats Liljestam
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6
Sites in Europe
Nordzucker nine months 2011/12
|
7
Sites in Europe
Headquarters Nordzucker D
1
Braunschweig
Head Offices A
2
Nordzucker Eastern Europe GmbH, Vienna
DK
3
Nordic Sugar, Copenhagen
Sugar factories D
DK
S
4
Clauen
5
Nordstemmen
6
Uelzen
7
Klein Wanzleben
8
Schladen
9
Nakskov
10
Nykøbing
11
Örtofta
FIN 12
Säkylä
LT
13
Kèdainiai
PL
14
Opalenica
15
Chełmża
SK
16
Trenčianska Teplá
D
17
Liquid sugar factory Groß Munzel
18
Liquid sugar factory Nordstemmen
Northern Europe 12 20
11 3 9
19
13
10
15
21
6
Refineries
7 4 1 24 8 18
17
S
19
Arlöv
FIN
20
Porkkala
PL
21
Chełmża
14
5
Eastern Europe 22
Sugar factories – non-consolidated minority stake CZ
22
Dobrovice
23
České Meziříčí
Other locations D
24
fuel 21, Klein Wanzleben
23
Central Europe
16 2
Management report
Nordzucker nine months 2011/12
Earnings, net assets and financial position Consolidated revenues in EUR m
The quarterly financial report of the Nordzucker Group as of 30 November 2011 has been prepared in accordance with the
1,477 1,361
International Financial Reporting Standards (IFRS) adopted and published by the International Accounting Standards Board (IASB). The financial statements comply fully with IFRS and give a true and fair view of the net assets, financial and earnings position of Nordzucker AG and its consolidated subsidiaries, associated companies and joint ventures. All consolidated subsidiaries have been included in the consolidated financial statements of Nordzucker with their financial reports as of 30 November 2011. Due to their varying reporting date, Norddeutsche Fl端ssigzucker GmbH & Co. KG has
9 months 2010/11
9 months 2011/12
been included with its financial report as of 30 September 2011. No changes have been made to the accounting methods used for the preparation of the consolidated annual financial statements as of 28 February 2011. For more information please see the Notes section of the 2010/2011 Annual Report.
Consolidated EBIT
The production of sugar is a seasonal business. The production phase
in EUR m
207
from mid-September to mid-January falls entirely in the second half of the financial year, and this should be taken into account when interpreting the results for the first nine months.
134
In the 2010/2011 financial year, the company also disposed of its investments in the H端bner Group (December 2010) and the seeds business (September 2010). Earnings in the previous year were negatively affected by one-off expenses caused by H端bner. 9 months 2010/11
9 months 2011/12
Revenues and earnings In the first nine months of the 2011/2012 financial year, the Nordzucker Group generated revenues of EUR 1,476.9 million, which is around EUR 116 million more than in the same period last year (EUR 1,360.9 million). Prices were higher than last year, which more than compensated for the fall in sales volumes particularly for nonquota sugar. In the current financial year, the non-quota sugar sold came from the less productive 2010/2011 campaign, whereas last year the volumes stemmed from the much higher-yielding 2009/2010 campaign.
When looking at the cost of materials and services and changes in inventories, it should be borne in mind that more sugar was imported than last year and the Group therefore used less of its own sugar. The changes were also driven by the fact that the beet volumes processed in the ongoing campaign are much higher than last year's. The cost of materials and services went up sharply as a result of these effects from EUR 665.7 million to EUR 1,020.2 million. Stocks rose by EUR 78.3 million, following a decline of EUR 222.3 million in the same period last year.
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8
Management report
Nordzucker nine months 2011/12
Consolidated net income in EUR m
139
At EUR 136.0 million, personnel expenses were slightly up on last year (EUR 133.2 million). Depreciation, amortisation and impairment totalled EUR 65.0 million, compared with EUR 71.2 million in the previous year; other operating expenses fell from EUR 159.6 million to EUR 147.3 million. In the previous year, both expense items
64
were inflated by the Hungarian subsidiary and the H端bner Group. In the first nine months of the financial year 2011/2012, Nordzucker reported an operating result (EBIT) of EUR 206.5 million, compared
9 months 2010/11
9 months 2011/12
with EUR 134.3 million in the same period last year. Net interest improved slightly, coming in below the previous year's EUR -36.4 million at EUR -27.1 million. The change is largely due to the repayment of loans taken out for the acquisition of Nordic Sugar.
Consolidated balance sheet structure as of November 30, 2011 in EUR m
The savings from the new loan arranged on much better terms were also visible in the third quarter. In net income/loss from investments we were able to report a dividend of EUR 3.8 million from
2,091
52%
2,091
our subsidiary TTD, which is making good progress.
44%
Overall, consolidated net income for the period more than doubled, increasing from EUR 64.4 million in the previous year to EUR 139.0 million.
26%
32% 16%
Cash flow and balance sheet 30%
The cash flow from operating activities totalled EUR 290.9 million in the first nine months of the 2011/2012 financial year, compared with
Assets
Equity & liabilities
Non-current assets
Equity
Inventories
Non-current liabilities
Other current assets
Current liabilities
EUR 431.0 million in the same period of 2010/2011. The reduction in cash flow despite the sharp rise in earnings was primarily the result of different stock levels in the two financial years: this year stocks were increased considerably whereas last year they were depleted by a large amount. Capital expenditure on items of property, plant and equipment accounted for EUR 42.7 million, roughly the same as in the previous year (EUR 42.4 million). Cash flow from investing activities totalled EUR -113.9 million, primarily as a result of the payment of the final instalment for the purchase of Nordic Sugar (EUR 73.7 million including interest), compared with a positive cash flow
Consolidated net debt In EUR m
of EUR 45.0 million in the same period of the previous year, due first and foremost to the sale of the Serbian investments and the seed business. Cash flow from financing activities amounted to EUR
188 162
-192.7 million, compared with EUR -386.2 million in the previous year. At the end of the third quarter, the Nordzucker Group held cash and cash equivalents of EUR 32.7 million. The Nordzucker Group's consolidated balance sheet total fell slightly from EUR 2,117.0 million in the same period in the previous year to EUR 2,090.8 million on the reporting date. This primarily resulted
9 months 2010/11
9 months 2011/12
from the optimisation of the investment portfolio and the repayment of the financial liabilities taken out for the purchase of Nordic Sugar. These factors were nearly offset by the increase in stocks and higher trade payables.
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9
Nordzucker nine months 2011/12
Management report
The very strong business performance prompted a rise in equity to EUR 912.1 million, compared with EUR 779.2 million as of last year's third quarter. As a proportion of total assets this represents an equity ratio of 43.6 per cent (previous year: 36.8 per cent). Net debt (financial liabilities less cash and cash equivalents) declined to EUR 162.3 million, compared with EUR 188.6 million as of the same period last year. The increase in stocks and the payment of the last purchase price instalment for Nordic Sugar meant that net debt did not decrease further despite strong earnings.
Supplementary report There have been no significant changes to the situation of the company for the current year since the reporting date of the interim financial statements.
Outlook The first nine months of the 2011/2012 financial year were defined by good market conditions with high sugar prices. This enabled a very attractive result to be achieved overall. The assumption is that markets will continue to perform strongly, both for the remainder of the current financial year and in the first months of the new financial year. The good 2011 harvest will increase available sales volumes compared with prior periods, especially those destined for export. A number of internal activities also contributed to the earnings improvement. A new loan agreement with much lower interest payments overall, alongside savings from the efficiency programme “Profitability plus�, had a positive effect on earnings. Under these circumstances the assumption is that Nordzucker will report unusually strong earnings for the full financial year 2011/2012.
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10
Nordzucker nine months 2011/12
Consolidated nine-month financial statements
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11
Consolidated nine-month financial statements Consolidated income statement for the period from March 1 to November 30, 2011, Nordzucker AG, Braunschweig
Revenues Increase (previous year decrease) in finished goods and work in progress Own work capitalised Total revenues Other operating income Cost of materials and services Personnel expenses Depreciation of property, plant and equipment, amortisation and impairment of intangible assets Appreciation of intangible assets and property, plant and equipment
1/3/2011 - 30/11/2011 TEUR
1/3/2010 - 30/11/2010 TEUR
Change TEUR
1,476,947
1,360,883
116,064
78,309
-222,258
300,567
1,606
2,656
-1,050
1,556,862
1,141,281
415,581
18,144
22,417
-4,273
1,020,184
665,711
354,473
135,976
133,226
2,750
65,040
71,225
-6,185
4
320
-316
Other operating expenses
147,268
159,558
-12,290
Operating result (EBIT)
206,542
134,298
72,244
Net interest a) Interest income and similar income b) Interest expenses and similar expenses
3,067
982
2,085
30,187
37,377
-7,190
-27,120
-36,395
9,275
Net income/loss from investments a) Net income/loss from associated companies and joint ventures accounted for under the equity method
0
-1,600
-1,600
3,774
1,683
2,091
3,774
83
3,691
a) Other financial income
7,095
16,749
-9,654
b) Other financial expenses
7,863
18,740
-10,877
-768
-1,991
1,223
Net financial income/loss
-24,114
-38,303
14,189
Earnings before taxes
182,428
95,995
86,433
43,439
31,577
11,862
b) Other net income from investments
Other net financial income/loss
Income taxes Result shutdown/sale of operations Consolidated net income Consolidated net income attributable to minority interests Consolidated net income attributable to shareholders of the parent company
0
0
0
138,989
64,418
74,571
2,840
3,215
-375
136,149
61,203
74,946
Statement of comprehensive income Consolidated net income
138,989
64,418
74,571
Currency conversion for foreign operations
-20,525
21,043
-41,568
-3,406
1,821
-5,227
857
-588
1,445
Net result of cash flow hedges Income taxes Other net income/loss after taxes Total net income/loss after taxes Attributable to minority shareholders Attributable to shareholders of the parent company
-2,549
1,233
-3,782
115,915
86,694
29,221
2,840
3,210
-370
113,075
83,484
29,591
Nordzucker nine months 2011/12
Consolidated nine-month financial statements
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12
Consolidated cash flow statement for the period from March 1 to November 30, 2011, Nordzucker AG, Braunschweig
1/3/2011 - 30/11/2011 TEUR
1/3/2010 - 30/11/2010 TEUR
Change TEUR
182,428
95,995
86,433
Interest and similar income
-3,067
-982
-2,085
Interest and similar expenses
30,187
37,377
-7,190
Net depreciation, amortisation and impairment on non-current assets
65,036
71,052
-6,016
4
1,600
-1,596
15,957
-8,528
24,485
185
-3
188
0
1,600
-1,600
Earnings before taxes
Depreciation, appreciation on financial investments Changes in non-current provisions Other non-cash expenses/income Net income/loss from associated companies Earnings from discontinued operations
0
0
0
-78,309
222,258
-300,567
Changes in current provisions
-1,035
25,452
-26,487
Proceeds on disposal of non-current assets
-1,214
1,033
-2,247
Changes in inventories, trade receivables and other assets not attributable to investing or financing activities
-89,999
-52,204
-37,795
Changes in trade payables and other liabilities not attributable to investing or financing activities
237,752
69,642
168,110
Changes in finished goods and work in progress
Interest received in the financial year
3,067
982
2,085
Interest paid in the financial year
-17,126
-33,071
15,945
Taxes paid in the financial year
-52,933
-1,173
-51,760
290,933
431,030
-140,097
5,009
2,924
2,085
-42,739
-42,391
-348
0
3,913
-3,913
-3,355
-6,390
3,035
Cash flow from operating activities Proceeds on disposal of property, plant and equipment Payments for investments in property, plant and equipment Proceeds on disposal of intangible assets Payments for investments in intangible assets Proceeds on disposal of financial assets
7
4,645
-4,638
-4
-1,852
1,848
Proceeds from the sale of consolidated companies and other business units
834
84,115
-83,281
Payments for the acquisition of consolidated companies and other business units
-73,676
0
-73,676
-113,924
44,964
-158,888
-22,367
-1,237
-21,131
Payments for investments in financial assets
Cash flow for investing activities Payments to shareholders (dividends) Proceeds from borrowing
26,790
10,999
15,791
Loan repayments
-197,140
-395,979
198,839
Cash flow from financing activities
-192,717
-386,217
193,500
-15,708
89,777
-105,485
50,289
113,942
-63,653
Changes in cash and cash equivalents Cash and cash equivalents at the beginning of the period Cash from the acquisition of consolidated companies and other business units and reclassifications in assets held for sale Effect of foreign exchange rate changes Cash and cash equivalents at the end of the period
0
0
0
-1,926
-47
-1,879
32,655
203,672
-171,017
Nordzucker nine months 2011/12
Consolidated nine-month financial statements
|
Consolidated balance sheet as of November 30, 2011, Nordzucker AG, Braunschweig
Assets
28/2/2011 TEUR
30/11/2011 TEUR
30/11/2010 TEUR
Intangible assets
179,897
172,470
181,815
Property, plant and equipment
906,056
876,468
913,099
8,516
7,510
8,607
Non-current assets Fixed assets
Investment property Financial investments Shares in associated companies and joint ventures accounted for under the equity method Other financial investments
3,838
3,837
4,238
20,477
20,469
20,620
24,315
24,306
24,858
1,118,784
1,080,754
1,128,379
32
16
627
1,530
1,437
1,751
1,562
1,453
2,378
Receivables and other assets Financial assets Other assets
Deferred taxes
5,383
4,836
7,219
1,125,729
1,087,043
1,137,976
Raw materials, consumables and supplies
40,836
47,263
46,640
Work in progress
17,981
17,748
27,435
533,205
603,467
402,422
592,022
668,478
476,497
155,897
218,037
182,817
28
294
362
Current assets Inventories
Finished goods and merchandise
Receivables and other assets Trade receivables from external companies Receivables from related parties Current income tax receivables
39
12,609
14,827
Financial assets
21,061
14,133
22,572
Other current assets
35,730
57,184
63,099
212,755
302,257
283,677
50,289
32,655
203,672
855,066
1,003,390
963,846
826
390
15,154
855,892
1,003,780
979,000
1,981,621
2,090,823
2,116,976
Cash and cash equivalents Assets held for sale
13
Nordzucker nine months 2011/12
Consolidated nine-month financial statements
|
Consolidated balance sheet as of November 30, 2011, Nordzucker AG, Braunschweig
Shareholders‘ equity and liabilities
28/2/2011 TEUR
30/11/2011 TEUR
30/11/2010 TEUR
Subscribed capital
123,651
123,651
123,651
Capital reserves
127,035
127,035
127,035
Retained earnings
471,569
585,851
445,495
54,983
31,910
41,802
777,238
868,447
737,983
41,497
43,632
41,180
818,735
912,079
779,163
134,117
133,352
132,539
19,218
34,157
32,344
275,892
188,080
381,354
Shareholders‘ equity
Other comprehensive income Equity attributable to shareholders of the parent company Minority interests
Non-current provisions and liabilities Provisions for pensions and similar obligations Other provisions Financial liabilities Liabilities towards related parties
5,500
5,500
5,500
Other financial liabilities
1,447
1,161
1,421
Other liabilities
23,763
21,550
24,599
Deferred taxes
160,015
157,707
158,259
619,952
541,507
736,016
Current provisions and liabilities Provisions for pensions and similar obligations
5,277
5,277
5,268
Other provisions
53,051
51,626
66,547
Financial liabilities
87,880
6,889
10,929
Current income tax liabilities
27,444
29,659
35,672
215,187
455,389
323,062
Liabilities towards related parties
12,313
12,441
11,053
Other financial liabilities
87,457
16,414
79,757
Other liabilities
54,325
59,542
49,947
542,934
637,237
582,235
0
0
19,562
1,981,621
2,090,823
2,116,976
Trade payables
Liabilities from discontinued operations
14
Consolidated nine-month financial statements
Nordzucker nine months 2011/12
|
Consolidated statement of changes in shareholders’ equity for the period from March 1 to November 30, 2011, Nordzucker AG, Braunschweig
As of 1/3/2010
Subscribed capital TEUR
Capital reserves TEUR
Other Retained comprehensive earnings income TEUR TEUR
123,651
127,035
384,294
19,521
Equity attributable to shareholders of the parent company TEUR
Minority interests TEUR
Total equity TEUR
654,501
89,498
743,999
Consolidated net income
0
0
61,203
0
61,203
3,215
64,418
Other income
0
0
0
22,279
22,279
-5
22,274
Total net income
0
0
61,203
22,279
83,482
3,210
86,692
Dividend payment
0
0
0
0
0
-1,352
-1,352
Others
0
0
-2
2
0
-50,176
-50,176
As of 30/11/2010
123,651
127,035
445,495
41,802
737,983
41,180
779,163
As of 1/3/2011
123,651
127,035
471,569
54,983
777,238
41,497
818,735 138,989
Consolidated net income
0
0
136,149
0
136,149
2,840
Other income
0
0
0
-23,074
-23,074
0
-23,074
Total net income
0
0
136,149
-23,074
113,075
2,840
115,915 -23,005
Dividend payment
0
0
-22,219
0
-22,219
-786
Others
0
0
352
1
353
81
434
123,651
127,035
585,851
31,910
868,447
43,632
912,079
As of 30/11/2011
Shareholders‘ structure Nordzucker AG EUR 123.7m share capital
Nordzucker Holding Aktiengesellschaft 76.2 %, EUR 94.3m
Union-Zucker Südhannover GmbH 10.8 %, EUR 13.4m
Nordharzer Zucker AG 7.8 %, EUR 9.7m
Direct shareholders 5.2 %, EUR 6.3m
15
Nordzucker nine months 2011/12
Important dates
Financial calendar Publications January 13, 2012
Publication of the Q3 Interim Report 2011/2012
May 31, 2012
Publication of the Annual Report 2011/12 and Annual Results Press Conference
Annual General Meetings July 3, 2012
Shareholders‘ Meeting of Union-Zucker Südhannover GmbH
July 10, 2012
Annual General Meeting of Nordharzer Zucker Aktiengesellschaft
July 11, 2012
Annual General Meeting of Nordzucker Holding AG
Juli 12, 2012
Annual General Meeting of Nordzucker AG
Online publications The following publications can be downloaded from www.nordzucker.de: • Annual Report • Interim reports • Declaration of Compliance pursuant to § 161 of German’s Stock Corporation Act • Sustainability Report
Financial calendar
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Nordzucker AG K端chenstrasse 9 38100 Braunschweig Germany Telephone: +49 (0)531 2411 0 Fax: +49 (0)531 2411 100 info@nordzucker.de www.nordzucker.de Corporate Communications Klaus Schumacher Telephone: +49 (0)531 24 11 366 pr@nordzucker.de Investor Relations Bianca Deppe-Leickel Telephone: +49 (0)531 2411 335 ir@nordzucker.de Shares register Claus-Friso Gellermann Telephone: +49 (0)531 24 11 118 aktien@nordzucker.de
Printed copies of this Interim Report for the Nordzucker Group are also available in German. Alternatively, the report can be downloaded in German or English from the internet under www.nordzucker.de from the download center as a PDF.