SHERIDAN, WYOMING -- July 09, 2026 -- Nordzucker AG shareholders voted with overwhelming majorities to discharge the company's management and supervisory boards at today's annual general meeting in Braunschweig, Germany, endorsing a comprehensive restructuring program aimed at restoring profitability after the sugar producer reported a historic operating loss. The company recorded negative EBIT of 226 million euros for fiscal year 2025/26, down from positive 100.5 million euros the prior year, as consecutive high-yield beet harvests and elevated EU sugar inventories drove sharp price declines. Revenue fell to approximately 2.34 billion euros from 2.77 billion euros.
Management Implements Immediate Cost Reduction Measures Across Operations
Nordzucker intensified existing efficiency initiatives and launched an immediate action program targeting administrative, personnel, and material costs. The company adjusted its network structure to align with current market conditions. Management introduced a revised beet pricing model in Germany that responds more flexibly to the company's financial performance, developed in collaboration with growers.
CEO Lars Gorissen addressed the operational changes during the meeting. He emphasized the need for tighter synchronization between financial results and raw material costs in volatile markets. The new pricing framework aims to strengthen competitiveness for European beet cultivation while maintaining grower partnerships.
Extreme Market Volatility Drives Revenue Decline and Margin Pressure
Two consecutive high-yield beet harvests created surplus inventory conditions across the European Union sugar market. Sales prices fell sharply. The combination pressured margins throughout fiscal 2025/26. Nordzucker's Australian subsidiary Mackay Sugar Ltd. contributed 0.3 million euros to group results during the period.
The company expects gradual relief in its cost structure as implemented measures take effect. For fiscal year 2026/27, Nordzucker projects negative EBIT in the mid-double-digit million euro range. Management targets a return to positive operating results in fiscal 2027/28 through excellence initiatives, the immediate action program, and adjusted pricing and cost structures.
Fields for Growth Strategy Maintains Focus on Diversification and European Market Position
Nordzucker continues executing its Fields for Growth strategy aimed at reducing dependence on the European sugar market while expanding its position in the region. The company targets growth in cane sugar operations and alternative proteins. Smart ingredients for food applications represent another strategic focus area. The plan extends through 2033.
The strategy emphasizes strengthening profitability in existing operations alongside targeted diversification. Nordzucker operates 19 production facilities across Europe and Australia with approximately 4,000 employees. The company produces white sugar, raw sugar, refined sugar, organic sugar, specialties, and liquid sugars, plus animal feed, molasses, fertilizers, fuels, and electricity.
Supervisory Board Chairman Endorses Structural Adjustments and Core Business Focus
Jochen Johannes Juister, supervisory board chairman of Nordzucker AG, stated the board explicitly supports further strengthening of core operations and consistent implementation of the Fields for Growth strategy. He noted the importance of decisive countermeasures and proper structural actions in highly volatile market environments. The strategy prioritizes efficiency, competitiveness, and targeted diversification.
Shareholders approved management's recommendation to suspend dividend payments for both Nordzucker AG and Nordzucker Holding AG. The prior year dividend was 0.40 euros per share. Nordzucker Holding AG holds 83.8 percent of Nordzucker AG shares as the parent company.
Annual Meeting Elects New Supervisory Board Members for Both Entities
Shareholders reelected Christina Heidkamp-Heineke, Eckhard Hinrichs, Dr. Axel Naumann, Ralf Tegtmeyer, and Dr. Ulf Wegener to the Nordzucker Holding AG supervisory board. Hannes Germer, Niels Kynast, and Carsten Prüße joined as new members. Alexander Heidebroek, Kasper Haller, and Hans-Heinrich Schnehage departed the board.
For Nordzucker AG, shareholders reelected Dr. Carin-Martina Tröltzsch and Christoph Klöpper. Ulrich Langenhoff joined as a new member. Alexander Heidebroek resigned his mandate effective July 9. In the subsequent constitutive supervisory board meeting for Nordzucker Holding AG, Ulrich Langenhoff was reelected chairman. Eckhard Hinrichs continues as first deputy chairman. Friedrich Christoph Heins was newly elected second deputy chairman.
Jochen Johannes Juister remains supervisory board chairman of Nordzucker AG. Sigrun Krussmann continues as deputy from the employee side. Bernd Schliephacke serves as deputy chairman representing shareholders.
Company Maintains Carbon Neutrality Target for Production Operations by 2050
Nordzucker maintains its commitment to operate production facilities carbon-neutral by 2050 at the latest. The company supplements this target with objectives for reducing carbon emissions in beet cultivation. The sustainability framework forms part of the broader strategic direction approved by shareholders.
The company positions itself as a leading global producer of sugar from sugar beets and sugar cane. Product forms include various sugar types plus complementary products across feed, energy, and agricultural inputs. Fiscal 2025/26 revenue reached 2.3 billion euros despite challenging market conditions.
For detailed voting results and additional shareholder meeting information, visit https://www.nordzucker.com