Interim Report Nordzucker AG Nine Months 2012/2013

Nordzucker AG Interim Report Financial Year 2012/2013 Nine months March 1 – November 30, 2012

Group figures and ratios

Nordzucker nine months 2012/2013

Group figures and key ratios nine months 2012/13

Operating business

9 months 2012/2013

9 months 2011/2012

Change absolute

Revenues

EUR m

1,872

1,477

395

Total revenues

EUR m

1,905

1,557

348

Gross income

EUR m

783

537

246

EBITDA

EUR m

504

272

232

EBIT

EUR m

439

207

232

Net income

EUR m

316

139

177

Cash flow from operating activities

EUR m

351

291

60

Investments in property, plant and equipment and intangible assets

EUR m

56

43

13

9 months 2012/2013

9 months 2011/2012

Change absolute

Balance sheet as of November 30

Balance sheet total

EUR m

2,302

2,091

211

Equity

EUR m

1,266

912

354

%

55

44

Debt capital

EUR m

1,036

1,179

-143

Financial liabilities

EUR m

13

195

-182

Cash and cash equivalents

EUR m

7

33

-26

Net debt (Cash and cash equivalents less financial liabilities)

EUR m

6

162

-156

9 months 2012/2013

9 months 2011/2012

Change absolute

Northern Europe Sugar factories

5

5

–

Sugar refineries

2

2

–

Equity ratio

Structure figures

Central Europe Sugar factories

5

5

–

Liquid sugar factories

2

2

–

Bioethanol plants

1

1

–

Eastern Europe Sugar factories

3

3

–

Sugar refineries

1

1

–

|

2

Facts and trends

Nordzucker nine months 2012/2013

|

Highlights of the first nine months 2012/2013 Content We are all Nordzucker

4

Letter from the Management Board

5

Sites in Europe

6

Management Report

7

(DUQLQJV DQG Ä«QDQFLDO SRVLWLRQ DQG QHW DVVHWV

6XSSOHPHQWDU\ UHSRUW

2XWORRN

Income statement

10

Statement of comprehensive income

10

Cash flow statement

11

Balance sheet

12

Statement of changes in shareholders’ equity

14

Financial calendar

15

Positive business performance continues ,Q WKH Ä«UVW QLQH PRQWKV RI 1RUG]XFNHU JHQHUDWHG UHYHQXHV RI (85 PLOOLRQ 7KLV UHSUHVHQWV DQ LQFUHDVH RI (85 PLOOLRQ FRPSDUHG ZLWK WKH Ä«UVW QLQH PRQWKV RI WKH SUHYLRXV \HDU ,Q DGGLWLRQ WR WKLV UHYHQXH JURZWK WKH RQJRLQJ SRVLWLYH VWDWH RI WKH (XURSHDQ VXJDU PDUNHW UHVXOWHG LQ D VKDUS LQFUHDVH LQ HDUQLQJV DIWHU WD[ WR (85 PLOOLRQ DJDLQVW (85 PLOOLRQ LQ WKH VDPH SHULRG RI WKH SUHYLRXV \HDU Campaign on the home stretch 6WURQJ UHJLRQDO YDULDWLRQV LQ ZHDWKHU FRQGLWLRQV FRPELQHG ZLWK FKDQJHV LQ IDUPLQJ SUDFWLFHV SURGXFHG DERYH DYHUDJH \LHOGV SHU KHFWDUH LQ PRVW RI WKH JURZLQJ UHJLRQV )RU WKH *URXS DV D ZKROH DQG JLYHQ WKH VWUDLQV LW SXWV RQ VWDÄ­ DQG PDFKLQHU\ WKH EHHW SURFHVVLQJ SHULRG KDV JRQH VPRRWKO\ WR GDWH HYHQ WKRXJK WKH WDUJHWHG LQYHVWPHQW LQ 1RUG]XFNHU VLWHV ZDV QRW DEOH WR FRYHU DOO HYHQWXDOLWLHV LQ IXOO 7KH ODVW IDFWRULHV DUH H[SHFWHG WR FRPSOHWH WKH FDPSDLJQ LQ WKH IRXUWK FDOHQGDU ZHHN RI SweetFamily stevia sugar on the market 6WHYLD VXJDU IURP 6ZHHW)DPLO\ KDV EHHQ RQ VXSHUPDUNHW VKHOYHV VLQFH WKH EHJLQQLQJ RI 7KLV PHDQV WKDW KRXVHKROGV IRU WKH Ä«UVW WLPH FDQ EX\ D 6ZHHW)DPLO\ SURGXFW WKDW FRPELQHV WKH DG YDQWDJHV RI ERWK KLJK TXDOLW\ ZKLWH VXJDU DQG ]HUR FDORULH VWHYLRO JO\FRVLGHV $ VSRRQIXO RI VWHYLD VXJDU KDV RQO\ KDOI WKH FDORULHV RI KRXVHKROG VXJDU IRU WKH VDPH VZHHWQHVV 7KLV PDNHV WKH QDWXUDO SURGXFW D YHUVDWLOH DOWHUQDWLYH WR DUWLÄ«FLDO VZHHWHQHUV DQG RWKHU SRZGHUHG VZHHWHQHUV

3

We are all Nordzucker

Nordzucker nine months 2012/2013

'U 1LHOV 3ĀUNVHQ

WE ARE ALL NORDZUCKER.

+DUWZLJ )XFKV

'U 8OI :HJHQHU

'DQLHO %LJDONH

Katja 0LOOQDW

$[HO $XPĘOOHU

|

0DWV /LOMHVWDP

'U 7KRUGLV 0ĀOOHU

'U $QGUHDV :LQGW

5DOI %UXQNRZ

Denise $KOJULPP Benjamin Stein

-HQQLIHU +DDVH +RO]

$QQD 0DULMNH *RHGHNH +XLWHPD 'U 0LFKDHO Noth

$QMD .LUVFKEDXP Marheine

4

Letter from the Management Board

Nordzucker nine months 2012/2013

Dear Shareholders, 7KH FDPSDLJQ LV RQ WKH KRPH VWUHWFK DQG ORRNLQJ DW WKH SURJUHVV WR GDWH DQG RXU EXVLQHVV SHUIRUPDQFH RYHU WKH ODVW QLQH PRQWKV ZH FDQ EH SURXG RI ZKDW ZH KDYH DFKLHYHG 7KH EHHW KDUYHVW LV RYHU DQG \LHOGV DUH SRLQWLQJ WR EHLQJ DQ DERYH DYHUDJH EHHW \HDU IRU WKH *URXS DV D ZKROH ,Q )LQODQG DQG 6ORYDNLD DOO WKH EHHW KDV DOUHDG\ EHHQ SURFHVVHG DQG WKH FDPSDLJQ LV īQLVKHG ZKHUHDV LQ *HUPDQ\ 3RODQG 'HQPDUN 6ZHGHQ DQG /LWKXDQLD RXU IDFWRULHV DUH VWLOO UXQQLQJ DQG SURGXFLQJ PRUH KLJK TXDOLW\ VXJDU IURP VXJDU EHHW 7KH EHHW ORJLVWLFV IXQFWLRQHG LPSHFFDEO\ RYHU WKH PDMRULW\ RI WKH FDPSDLJQ DQG RQO\ LQ D IHZ FDVHV GLG ZHDWKHU FRQGLWLRQV FDXVH SUREOHPV 7KH EHHW TXDOLW\ DOVR RQO\ VXĭHUHG IURP SRRU ZHDWKHU LQ D IHZ UHJLRQV KDPSHU LQJ SURFHVVLQJ VRPHZKDW 2YHUDOO ZH FDQ ORRN EDFN RQ D YHU\ SRVLWLYH ODVW IHZ PRQWKV QRW RQO\ LQ WHUPV RI EHHW VXSSOLHV DQG SURGXFWLRQ 7KH PDUNHW HQYLURQPHQW ZDV DOVR YHU\ SRVLWLYH DQG ZH FDQ UHSRUW H[FHSWLRQDOO\ JRRG īQDQFLDO UHVXOWV :H ZHUH DEOH WR LQFUHDVH RXU HTXLW\ UDWLR WR DURXQG SHU FHQW ZKLFK JLYHV XV JUHDWHU īQDQFLDO ODWLWXGH HYHQ DV WKH (XURSHDQ HQYLURQ PHQW EHFRPHV PRUH GLĮFXOW 7KH FRXUVH RI EXVLQHVV LQ DOO RI WKH *URXSŃV UHJLRQV FRQWULEXWHG WR WKLV SHUIRUPDQFH :H LQFUHDVHG RXU LQYHVWPHQWV DQG DW WKH VDPH WLPH JHQHUDWHG SRVLWLYH PRPHQWXP ZLWK WKH DFWLYLWLHV LQ RXU ń3URīWDELOLW\ plusŅ HĮFLHQF\ SURJUDPPH :H KDYH JDWKHUHG DGGLWLRQDO VWUHQJWK LQ UHFHQW PRQWKV DQG DUH QRZ LQ D PXFK EHWWHU SRVLWLRQ WKDQ D IHZ \HDUV DJR +RZHYHU ZH NQRZ WKDW QHZ FKDOOHQJHV DUH LQ VWRUH IRU XV :LWK RXU VROLG īQDQFLDO ī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

Mats Liljestam

Axel Aumüller

Hartwig Fuchs

Dr Michael Noth

Dr Niels Pörksen

|

5

Sites in Europe

Nordzucker nine months 2012/2013

|

6

6LWHV LQ (XURSH Headquarters Nordzucker D

1

Braunschweig

+HDG 2ĮFH DK

2

Nordic Sugar, Køpenhavn

Sugar factories D

DK S

3

Clauen

4

Nordstemmen

5

Uelzen

6

Klein Wanzleben

7

Schladen

8

Nakskov

9

Nykøbing

10

Säkylä

LT

12

Kedainiai

PL

13

Opalenica

&KHõPĨD

6.

7UHQÐLDQVND 7HSOÅ

D

Liquid sugar factory

16

Northern Europe

Örtofta

FIN 11

11 19

Groß Munzel 17

Liquid sugar factory Nordstemmen

5HīQHULHV S

18

Arlöv

FIN

19

Porkkala

3/

&KHõPĨD

2

24

8

Sugar factories –

CZ

21

Dobrovice

oHVN× 0H]LćçÐç

23

DK

24

fuel 21, Klein Wanzleben NP Sweet, Køpenhavn

12

9

14

20

6 3 1 23 7 17

16

13

4

Eastern Europe 21

2WKHU ORFDWLRQV D

18

5

QRQ FRQVROLGDWHG PLQRULW\ VWDNH

10

Central Europe

22

15

Management report

Nordzucker nine months 2012/2013

Earnings and financial position and net assets Consolidated revenues

7KH QLQH PRQWK Ä«QDQFLDO UHSRUW RI WKH 1RUG]XFNHU *URXS DV RI

in EUR m

1RYHPEHU KDV EHHQ SUHSDUHG LQ DFFRUGDQFH ZLWK WKH 1,872

,QWHU QDWLRQDO )LQDQFLDO 5HSRUWLQJ 6WDQGDUGV ,)56 DGRSWHG DQG SXEOLVKHG E\ WKH ,QWHUQDWLRQDO $FFRXQWLQJ 6WDQGDUGV %RDUG ,$6%

7KH Ä«QDQFLDO VWDWHPHQWV FRPSO\ IXOO\ ZLWK ,)56 DQG JLYH D WUXH DQG

1,477

IDLU YLHZ RI WKH HDUQLQJV DQG Ä«QDQFLDO SRVLWLRQ DQG QHW DVVHWV RI 1RUG]XFNHU $* DQG LWV FRQVROLGDWHG VXEVLGLDULHV DV ZHOO DV LWV DVVR FLDWHG FRPSDQLHV DQG MRLQW YHQWXUHV 1R FKDQJHV KDYH EHHQ PDGH WR WKH DFFRXQWLQJ PHWKRGV XVHG IRU WKH SUHSDUDWLRQ RI WKH FRQVROL GDWHG DQQXDO Ä«QDQFLDO VWDWHPHQWV DV RI )HEUXDU\ 9 months 2011/2012

9 months 2012/2013

)RU PRUH LQIRUPDWLRQ SOHDVH VHH WKH 1RWHV VHFWLRQ RI WKH $QQXDO 5HSRUW 7KH SURGXFWLRQ RI VXJDU LV D VHDVRQDO EXVLQHVV 7KH SURGXFWLRQ VWDJH IURP WKH EHJLQQLQJ RI 6HSWHPEHU XQWLO -DQXDU\ LV HQWLUHO\ LQ WKH VHFRQG KDOI RI WKH Ä«QDQFLDO \HDU 7KLV VKRXOG EH WDNHQ LQWR FRQVLGHUDWLRQ ZKHQ LQWHUSUHWLQJ WKH UHVXOWV RI WKH Ä«UVW QLQH PRQWKV

Consolidated EBIT in EUR m

439

Revenues and earnings ,Q WKH Ä«UVW QLQH PRQWKV RI WKH Ä«QDQFLDO \HDU WKH 1RUG]XFNHU *URXS JHQHUDWHG UHYHQXHV RI (85 PLOOLRQ D \HDU RQ \HDU LQ FUHDVH RI (85 PLOOLRQ 6DOHV RI TXRWD VXJDU GHFOLQHG VOLJKWO\

207

DJDLQVW WKH SUHYLRXV \HDU EXW WKH KLJKHU RYHUDOO SULFHV PRUH WKDQ PDGH XS IRU WKLV IDOO 7KH WUHQG ZDV UHYHUVHG IRU QRQ TXRWD VXJDU ZKHUH PXFK ORZHU ZRUOG PDUNHW SULFHV ZHUH RÄ­VHW E\ VXEVWDQWLDOO\ KLJKHU VDOHV YROXPHV VR WKDW UHYHQXHV IURP QRQ TXRWD VXJDU ZHUH

9 months 2011/2012

9 months 2012/2013

DOVR KLJKHU WKDQ WKH SUHYLRXV \HDU 7KH LQFUHDVH LQ VWRFNV ZDV (85 PLOOLRQ ORZHU WKDQ D \HDU DJR DV D UHVXOW RI PXFK KLJKHU VDOHV RI QRQ TXRWD VXJDU 7KH FRVW RI PDWHULDOV DQG VHUYLFHV ZHQW XS \HDU RQ \HDU E\ (85 PLOOLRQ WR (85 PLOOLRQ ODUJHO\ GXH WR KLJKHU EHHW FRVWV

3HUVRQQHO H[SHQVHV URVH E\ (85 PLOOLRQ WR (85 PLOOLRQ GULYHQ LQ SDUWLFXODU E\ KLJKHU ZDJH VHWWOHPHQWV DQG D VOLJKWO\ ODUJHU ZRUNIRUFH 'HSUHFLDWLRQ DPRUWLVDWLRQ DQG LPSDLUPHQW UHPDLQHG HVVHQWLDOO\ XQFKDQJHG \HDU RQ \HDU DW (85 PLOOLRQ SUHYLRXV \HDU (85 PLOOLRQ 2WKHU RSHUDWLQJ H[SHQVHV URVH VOLJKWO\ IURP (85 PLOOLRQ WR (85 PLOOLRQ 7KLV ULVH ZDV SULPDULO\ GXH WR KLJKHU YROXPH UHODWHG WUDQVSRUW DQG UHPRYDO FRVWV ,Q WKH Ä«UVW QLQH PRQWKV RI WKH Ä«QDQFLDO \HDU 1RUG]XFNHU UHSRUWHG DQ RSHUDWLQJ UHVXOW (%,7

RI (85 PLOOLRQ FRPSDUHG ZLWK (85 PLOOLRQ LQ WKH VDPH SHULRG ODVW \HDU

|

7

Management report

Nordzucker nine months 2012/2013

Consolidated net income in EUR m

316

7KH IXUWKHU UHSD\PHQW RI īQDQFLDO OLDELOLWLHV DQG WKH PRUH IDYRXUDEOH WHUPV RI WKH QHZ ORDQ DJUHHPHQW VLJQHG LQ WKH SUHYLRXV īQDQFLDO \HDU UHGXFHG LQWHUHVW H[SHQVH WR (85 PLOOLRQ DJDLQVW (85 PLOOLRQ D \HDU DJR 1HW LQFRPH IURP LQYHVWPHQWV DPRXQWHG WR (85 PLOOLRQ DQG HVVHQWLDOO\ FDPH IURP D GLYLGHQG IURP 1RUG]XFNHUŃV VWDNH LQ WKH &]HFK FRPSDQ\ 77'

139

2YHUDOO WKH QHW LQFRPH IRU WKH SHULRG PRUH WKDQ GRXEOHG IRU WKH *URXS ZKHQ FRPSDUHG ZLWK WKH SUHYLRXV \HDU DQG WRWDOOHG (85 9 months 2011/2012

9 months 2012/2013

PLOOLRQ EHIRUH PLQRULW\ LQWHUHVWV SUHYLRXV \HDU (85 PLOOLRQ

&DVK ĬRZ DQG EDODQFH VKHHW &DVK IORZ IURP RSHUDWLQJ DFWLYLWLHV URVH E\ (85 PLOOLRQ WR

Consolidated balance sheet structure as of November 30, 2012 in EUR m

(85 PLOOLRQ LQ WKH ILUVW QLQH PRQWKV ,Q FRPSDULVRQ WR WKH SUHYLRXV \HDU WKH SRVLWLYH HIIHFWV RI WKH KLJKHU QHW LQFRPH IRU WKH SHULRG ZHUH ODUJHO\ RIIVHW E\ WKH RSSRVLWH WHQGHQF\ LQ

2,302

2,302

46%

55%

ZRUNLQJ FDSLWDO UHTXLUHPHQWV &DVK IORZ IURP LQYHVWLQJ DFWLYLWLHV LPSURYHG IURP (85 PLOOLRQ WR (85 PLOOLRQ 7KLV VWHPV LQ SDUWLFXODU IURP WKH SD\PHQW RI WKH ILQDO SXUFKDVH SULFH LQVWDOPHQW IRU 1RUGLF 6XJDU

39% 15% Assets

15% 30%

RI (85 PLOOLRQ ZKLFK ZDV UHFRUGHG DV D ILQDQFLDO LQYHVW PHQW LQ WKH SUHYLRXV \HDU ,QYHVWPHQW LQ SURSHUW\ SODQW DQG HTXLSPHQW DQG LQ LQWDQJLEOH DVVHWV URVH E\ (85 PLOOLRQ \HDU RQ \HDU WR (85 PLOOLRQ

Equity & liabilities

Non-current assets

Equity

Inventories

Non-current liabilities

,Q WHUPV RI FDVK IORZ IURP ILQDQFLQJ DFWLYLWLHV WKHUH ZDV D FDVK RXWIORZ RI (85 PLOOLRQ SUHYLRXV \HDU (85 PLOOLRQ

GXH WR WKH UHSD\PHQW RI FXUUHQW ORDQV (85 PLOOLRQ DQG DV D UHVXOW RI GLYLGHQG SD\PHQWV (85 PLOOLRQ $W WKH HQG

Other current assets

Current liabilities

RI WKH SHULRG FDVK DQG FDVK HTXLYDOHQWV DPRXQWHG WR (85 PLOOLRQ SUHYLRXV \HDU (85 PLOOLRQ

7KH 1RUG]XFNHU *URXSŃV FRQVROLGDWHG EDODQFH VKHHW WRWDO LQ FUHDVHG E\ (85 PLOOLRQ \HDU RQ \HDU WR (85 PLO OLRQ 7KLV ULVH ZDV SULPDULO\ GXH WR KLJKHU LQYHQWRULHV IROORZLQJ

Consolidated net debt In EUR m

WKH ODVW WZR JRRG FDPSDLJQV 7KDQNV WR WKH H[FHOOHQW EXVLQHVV SHUIRUPDQFH HTXLW\ URVH IURP

162

(85 PLOOLRQ WR (85 PLOOLRQ 'HVSLWH WKH ULVH LQ WKH EDODQFH VKHHW WRWDO WKH HTXLW\ UDWLR WKHUHIRUH ZHQW XS IURP SHU FHQW WR SHU FHQW 1HW GHEW ILQDQFLDO OLDELOLWLHV OHVV FDVK DQG FDVK HTXLYDOHQWV

6

9 months 2011/2012

9 months 2012/2013

ZDV UHGXFHG FRQVLGHUDEO\ FRPSDUHG ZLWK WKH SUHYLRXV \HDU DQG ZDV DOPRVW UHSDLG LQ IXOO 7KH WRWDO IHOO WR (85 PLOOLRQ FRP SDUHG ZLWK (85 PLOOLRQ DW WKH HQG RI WKH ILUVW QLQH PRQWKV RI

|

8

Nordzucker nine months 2012/2013

Management report

Supplementary report 2Q 1RYHPEHU 1RUG]XFNHU $* DQG ,QGXVWULH XQG +DQGHOVXQLRQ 'U :ROIJDQJ %RHWWJHU *PE+ &R .* %HUOLQ WKH %RHWWJHU *URXS DJUHHG WR FROODERUDWH PRUH FORVHO\ RQ WKH SURGXF WLRQ RI OLTXLG VXJDU $V RI -DQXDU\ WKH %RHWWJHU *URXS WKHUHIRUH DFTXLUHG D WKLUW\ SHU FHQW VWDNH LQ WKH 1RUG]XFNHU VXEVLGLDU\ 1RUGGHXWVFKH )OĘVVLJ]XFNHU *PE+ &R .* 1)= ZKLFK RSHUDWHV WZR OLTXLG VXJDU IDFWRULHV LQ *URĎ 0XQ]HO DQG 1RUGVWHPPHQ

Outlook (ĮFLHQF\ LPSURYHPHQWV ORZHU LQWHUHVW H[SHQVHV DQG WKH SOHDVLQJ PDUNHW VLWXDWLRQ UHVXOWHG LQ YHU\ SRVLWLYH HDUQLQJV IRU WKH īUVW QLQH PRQWKV RI 7KLV VWURQJ SHUIRUPDQFH ZLOO FRQ WLQXH LQ WKH IRXUWK TXDUWHU RI WKH FXUUHQW īQDQFLDO \HDU DOEHLW VRPHZKDW WHPSHUHG IRU VHDVRQDO UHDVRQV 7KH FXUUHQW īQDQFLDO \HDU ZLOO VXEVWDQWLDOO\ H[FHHG WKH SUHYLRXV \HDU LQ WHUPV RI UHYHQXHV DQG HDUQLQJV *LYHQ WKH FXUUHQW HQYLURQPHQW WKH RXWORRN EH\RQG WKH HQG RI WKH īQDQFLDO \HDU UHPDLQV GLĮFXOW EXW ZH DUH DVVXPLQJ WKDW HDUQLQJV ZLOO EH ORZHU LQ WKH īQDQFLDO \HDU

|

9

Nordzucker nine months 2012/2013

Consolidated nine-month financial statements

|

Consolidated nine-month financial statements Consolidated income statement for the period from March 1 to November 30, 2012, Nordzucker AG, Braunschweig

Revenues &KDQJHV LQ ÄŤQLVKHG JRRGV DQG ZRUN LQ SURJUHVV Own work capitalised 7RWDO UHYHQXHV Other operating income Cost of materials and services Personnel expenses Depreciation of property, plant and equipment, amortisation and impairment of intangible assets Appreciation of property, plant and equipment, amortisation and impairment of intangible assets

1/3/2012

TEUR

1/3/2011 - 30/11/2011 TEUR

Change

1,871,897

1,476,947

394,950

32,861

78,309

-45,448

330

1,606

-1,276

1,905,088

1,556,862

348,226

17,996

18,144

-148

1,121,793

1,020,184

101,609

143,312

135,976

7,336

64,446

65,040

-594

TEUR

0

4

-4

Other operating expenses

154,308

147,268

7,040

2SHUDWLQJ UHVXOW (%,7

439,225

206,542

232,683

Net interest a) Interest income and similar income b) Interest expenses and similar expenses Net income/loss from investments a) Net income/loss from associated companies and joint ventures accounted for under the equity method

2,700

3,067

-367

12,886

30,187

-17,301

-10,186

-27,120

16,934

283

283

0

4,713

3,774

939

4,996

3,774

1,222

2WKHU QHW ÄŤQDQFLDO LQFRPH ORVV D 2WKHU ÄŤQDQFLDO LQFRPH

15,148

7,095

8,053

E 2WKHU ÄŤQDQFLDO H[SHQVHV

16,739

7,863

8,876

-1,591

-768

-823

b) Other net income from investments

1HW ÄŤQDQFLDO LQFRPH ORVV (DUQLQJV EHIRUH WD[HV Income taxes &RQVROLGDWHG QHW LQFRPH Consolidated net income attributable to minority interests Consolidated net income attributable to shareholders of the parent company

432,444

182,428

250,016

116,941

43,439

73,502

315,503

138,989

7,806

2,840

4,966

136,149

315,503

138,989

1,930

-20,525

22,455

769

-3,406

4,175

-220

857

-1,077

Statement of comprehensive income &RQVROLGDWHG QHW LQFRPH Currency conversion for foreign operations 1HW UHVXOW RI FDVK ÄŹRZ KHGJHV Income taxes Other net income/loss after taxes 7RWDO QHW LQFRPH ORVV DIWHU WD[HV Consolidated net income attributable to minority interests Consolidated net income attributable to shareholders of the parent company

25,553

115,915

7,806

2,840

197,101

4,966

10

Nordzucker nine months 2012/2013

Consolidated nine-month financial statements

|

Consolidated cash flow statement for the period from March 1 to November 30, 2012, Nordzucker AG, Braunschweig

(DUQLQJV EHIRUH WD[HV

1/3/2012

1/3/2011 - 30/11/2011

TEUR

TEUR

432,444

182,428

Change

TEUR

250,016

Interest and similar income

-2,700

-3,067

367

Interest and similar expenses

12,886

30,187

-17,301

Net depreciation, amortisation and impairment on non-current assets

64,446

65,036

-590

0

4

-4

-1,154

15,957

-17,111

-105

185

-290

1HW GHSUHFLDWLRQ RQ ÄŤQDQFLDO DVVHWV Changes in non-current provisions Other non-cash expenses Net loss/income from associated companies &KDQJHV LQ ÄŤQLVKHG JRRGV DQG ZRUN LQ SURJUHVV Changes in current provisions Proceeds on disposal of non-current assets Changes in inventories, trade receivables and other assets QRW DWWULEXWDEOH WR LQYHVWLQJ RU ÄŤQDQFLQJ DFWLYLWLHV Changes in trade payables and other liabilities QRW DWWULEXWDEOH WR LQYHVWLQJ RU ÄŤQDQFLQJ DFWLYLWLHV ,QWHUHVW UHFHLYHG LQ WKH ÄŤQDQFLDO \HDU ,QWHUHVW SDLG LQ WKH ÄŤQDQFLDO \HDU

-283

0

-283

-32,861

-78,309

45,448

-913

-1,035

122

901

-1,214

2,115

-25,812

-89,999

64,187

20,226

237,752

-217,526

322

3,067

-2,745

-6,317

-17,126

10,809

7D[HV SDLG LQ WKH ÄŤQDQFLDO \HDU

-110,467

-52,933

-57,534

&DVK ÄŹRZ IURP RSHUDWLQJ DFWLYLWLHV

350,613

290,933

59,680

948

5,009

-4,061

-56,314

-42,739

-13,575

10

0

10

-1,655

-3,355

1,700

570

7

563

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 3URFHHGV RQ GLVSRVDO RI ÄŤQDQFLDO DVVHWV 3D\PHQWV IRU LQYHVWPHQWV LQ ÄŤQDQFLDO DVVHWV

-587

-4

-583

Proceeds from the sale of consolidated companies and other business units

0

834

-834

Payments for the acquisition of consolidated companies and other business units

0

-73,676

73,676

56,896

-50,713

-22,367

-28,346

0

26,790

-26,790

-243,481

-197,140

-46,341

&DVK ÄŹRZ IRU LQYHVWLQJ DFWLYLWLHV Payments to shareholders (dividends) Proceeds from borrowing Loan repayments &DVK ÄŹRZ IURP ÄŤQDQFLQJ DFWLYLWLHV Changes in cash and cash equivalents

-609

-15,708

15,099

7,406

50,289

-42,883

Currency-related changes in cash and cash equivalents

-13

-1,926

1,913

&DVK DQG FDVK HTXLYDOHQWV DW WKH HQG RI WKH SHULRG

32,655

Cash and cash equivalents at the beginning of the period

11

Nordzucker nine months 2012/2013

Consolidated nine-month financial statements

|

Consolidated balance sheet as of November 30, 2012, Nordzucker AG, Braunschweig Assets

29/2/2012 TEUR

30/11/2012 TEUR

30/11/2011 TEUR

Intangible assets

174,066

165,473

172,470

Property, plant and equipment

861,059

859,796

876,468

6,785

5,739

7,510

1RQ FXUUHQW DVVHWV )L[HG DVVHWV

Investment property Financial investments Shares in associated companies and joint ventures accounted for under the equity method

2WKHU ÄŤQDQFLDO LQYHVWPHQWV

3,593

3,928

3,837

20,428

20,392

20,469

1,065,931

1,055,328

5HFHLYDEOHV DQG RWKHU DVVHWV Financial assets Other assets

'HIHUUHG WD[HV

7

0

16

1,369

46

1,437

46

1,453

11,883

3,335

4,836

Raw materials, consumables and supplies

44,451

55,238

47,263

Work in progress

43,373

24,136

17,748

810,414

819,310

603,467

898,238

898,684

194,423

255,434

218,037

233

4,278

294

5,084

7,566

12,609

13,185

8,311

14,133

&XUUHQW DVVHWV ,QYHQWRULHV

Finished goods and merchandise

5HFHLYDEOHV DQG RWKHU DVVHWV Trade receivables from external companies Receivables from related parties Current income tax receivables Financial assets Other current assets

61,971

60,517

57,184

336,106

&DVK DQG FDVK HTXLYDOHQWV

32,655

$VVHWV KHOG IRU VDOH

1,686

390

1,243,260

2,301,969

2,090,823

12

Nordzucker nine months 2012/2013

Consolidated nine-month financial statements

|

Consolidated balance sheet as of November 30, 2012, Nordzucker AG, Braunschweig Shareholdersâ&#x20AC;&#x2122; equity and liabilities

29/2/2012 TEUR

30/11/2012 TEUR

30/11/2011 TEUR

Subscribed capital

123,651

123,651

123,651

Capital reserves

127,035

127,035

127,035

Retained earnings

653,603

912,323

585,851

51,682

54,159

31,910

955,971

1,217,168

868,447

43,260

48,676

43,632

999,231

1,265,844

6KDUHKROGHUVĹ&#x192; HTXLW\

Other comprehensive income Equity attributable to shareholders of the parent company Minority interests

1RQ FXUUHQW SURYLVLRQV DQG OLDELOLWLHV Provisions for pensions and similar obligations

134,727

136,776

133,352

Other provisions

23,415

20,825

34,157

Financial liabilities

88,473

4,462

188,080

Liabilities towards related parties

5,500

5,511

5,500

2WKHU ÄŤQDQFLDO OLDELOLWLHV

1,181

930

1,161

Other liabilities

20,985

14,783

21,550

Deferred taxes

153,917

150,742

157,707

428,198

334,029

&XUUHQW SURYLVLRQV DQG OLDELOLWLHV Provisions for pensions and similar obligations

5,281

5,281

5,277

Other provisions

68,059

67,181

51,626

Financial liabilities

167,852

8,463

6,889

Current income tax liabilities

60,000

60,387

29,659

455,122

485,655

455,389

Liabilities towards related parties

11,498

12,912

12,441

2WKHU ÄŤQDQFLDO OLDELOLWLHV

15,900

5,642

16,414

Trade payables

Other liabilities

50,456

56,575

59,542

834,168

2,301,969

2,090,823

13

Consolidated nine-month financial statements

Nordzucker nine months 2012/2013

|

Consolidated statement of changes in shareholdersâ&#x20AC;&#x2122; equity Nordzucker AG, Braunschweig

As of 1/3/2011

(TXLW\ DWWULEXWDEOH to VKDUHKROGHUV RI WKH SDUHQW FRPSDQ\

0LQRULW\ LQWHUHVWV

7RWDO HTXLW\

6XEVFULEHG FDSLWDO

&DSLWDO UHVHUYHV

5HWDLQHG HDUQLQJV

Other FRPSUHKHQ VLYH LQFRPH

TEUR

TEUR

TEUR

TEUR

TEUR

TEUR

TEUR

123,651

127,035

471,569

54,983

777,238

41,497

818,735

136,149

0

136,149

2,840

138,989

Consolidated net income Other net income/loss

0

0

0

-23,074

-23,074

0

-23,074

Total net income / loss after taxes

0

0

136,149

-23,074

113,075

2,840

115,915

-22,219

0

-22,219

-786

-23,005

352

1

353

81

434

Dividend payment Others As of 30/11/2011

123,651

127,035

585,851

31,910

868,447

43,632

912,079

As of 1/3/2012

123,651

127,035

653,603

51,682

955,971

43,260

999,231

307,697

0

307,697

7,806

315,503

Consolidated net income Other net income/loss

0

0

0

2,479

2,479

0

2,479

Total net income / loss after taxes

0

0

307,697

2,479

310,176

7,806

317,982

-48,301

0

-48,301

-2,412

-50,713

-676

-2

-678

22

-656

912,323

54,159

1,265,844

Dividend payment Others As of 30/11/2012

123,651

Shareholdersâ&#x20AC;&#x2DC; structure Nordzucker AG EUR 123.7 m share capital

Nordzucker Holding Aktiengesellschaft 76.2 %, EUR 94.3 m

Union-Zucker SĂźdhannover GmbH 10.8 %, EUR 13.4 m

Nordharzer Zucker AG 7.8 %, EUR 9.7 m

Direct shareholdersâ&#x20AC;&#x2DC; 5.2 %, EUR 6.3 m

14

Nordzucker nine months 2012/2013

Important dates

Financial calendar Publications -DQXDU\

5HOHDVH 0 ,QWHULP 5HSRUW

0D\

3XEOLFDWLRQ RI WKH $QQXDO 5HSRUW DQG $QQXDO 5HVXOWV 3UHVV &RQIHUHQFH

Online publications 7KH IROORZLQJ SXEOLFDWLRQV FDQ EH GRZQORDGHG IURP ZZZ QRUG]XFNHU GH Ĺ&#x17D; $QQXDO 5HSRUW Ĺ&#x17D; ,QWHULP 5HSRUWV Ĺ&#x17D; 'HFODUDWLRQ RI FRPSOLDQFH Ĺ&#x17D; 6XVWDLQDELOLW\ UHSRUW

Financial calendar

|

16

1RUG]XFNHU $* .ĘFKHQVWUDĎH %UDXQVFKZHLJ *HUPDQ\ 7HOHSKRQH

)D[

LQIR#QRUG]XFNHU GH ZZZ QRUG]XFNHU GH &RUSRUDWH &RPPXQLFDWLRQV .ODXV 6FKXPDFKHU 7HOHSKRQH

SU#QRUG]XFNHU GH ,QYHVWRU 5HODWLRQV %LDQFD 'HSSH /HLFNHO 7HOHSKRQH

LU#QRUG]XFNHU GH 6KDUHV UHJLVWHU &ODXV )ULVR *HOOHUPDQQ 7HOHSKRQH

DNWLHQ#QRUG]XFNHU GH

7KLV ,QWHULP 5HSRUW IRU WKH 1RUG]XFNHU *URXS LV DOVR DYDLODEOH LQ *HUPDQ 7KH UHSRUW FDQ EH GRZQORDGHG LQ *HUPDQ RU (QJOLVK IURP WKH LQWHUQHW XQGHU ZZZ QRUG]XFNHU GH IURP WKH GRZQORDG FHQWHU DV D 3')