First-quarter revenue growth was generated almost equally by the sugar and special products segments, but the consolidated operating profit improvement originated exclusively in the sugar segment. The special products segment was hit by higher commodity prices, especially the starch division. The increases have yet to fully flow through to the bioethanol division's results. The fruit segment was able to keep its operating profit steady despite slightly lower revenues and higher raw material prices.
Income from operations in the first quarter came in at Euro 181.2 (last year: 30.2) million. This consists of the operating profit of Euro 63.2 (last year: 53.6) million plus the results of restructuring and special items of Euro 118.0 (last year: -23.4) million stemming from the quota surrendered to the restructuring fund.
Earnings per share rose to Euro 0.57 (last year: 0.03).
The workforce shrank to 18,043 (last year: 19,092), mainly because of sugar factory closures.
On July 29, 2008, the executive and supervisory boards will recommend to the annual general meeting that a dividend of 0.40 (last year: 0.55) per share be distributed.