FRANKFURT, Feb 10 (Reuters) - Suedzucker, Europe’s largest sugar refiner, expects the next two years to be challenging after the European Union liberalised market rules, Chief Financial Officer Thomas Koelbl told German paper Boerzen-Zeitung.
“We have a difficult transition phase of at least two years ahead of us,” Koelbl was quoted as saying on Saturday.
In the medium term however, the German company’s sales and market share will increase because exports are now allowed beyond the European Union, Koelbl told the publication.
Under new European Union rules, which came into effect in autumn 2017, guaranteed minimum prices for sugar ended. EU prices are now more closely linked to world prices.
The company’s return on capital employed (ROCE) will be between 10 percent and 15 percent in the long term, he told Boersen-Zeitung. ($1 = 0.8175 euros) (Reporting by Edward Taylor; editing by Clelia Oziel)