Glossary

B

Biodiversity
Definition:

Biodiversity, or biological diversity, by the definition of the Convention on Biological Diversity (CBD) is “the variability among living organisms from all sources including, inter alia, terrestrial, marine and other aquatic ecosystems and the ecological complexes of which they are part”. This includes diversity within species, diversity between species and diversity of ecosystems. The preservation and sustainable use of biological diversity are considered important foundations of human wellbeing. The destruction and fragmentation of habitats is viewed as the greatest threat to the diversity of life on earth.

Bioethanol
Definition:

An alcohol-based biofuel which in Europe is produced mainly from starchy cereals or sugar beet. Bioethanol is used primarily as a petrol additive in motor vehicles.

Biogas
Definition:

Consists largely of methane and carbon dioxide and is produced by anaerobic fermentation or thermal processes from biomass, including waste biomass.

C

Campaign
Definition:

The processing period for agricultural raw materials that have a limited storage life.

Cane sugar
Definition:

Sugar produced from sugar cane. Chemically identical to beet sugar.

Corn starch
Definition:

Starch produced from corn (maize), used mainly in food processing (such as in pudding or baby food), but also in industrial applications – for example, the production of paper and cosmetics.

CO2 equivalent
Definition:

A metric unit of measurement used to compare the emissions of different greenhouse gases based on their global warming potential (GWP), i.e., their contribution to the greenhouse effect. This is done by converting the amounts of other gases into the equivalent amount of CO2.

Customs duties
Definition:

Also known as import duties or customs tariffs, these help to protect domestic products against cheap imports from non-EU countries (thus providing tariff protection). The basic import duty for sugar is a fixed amount. In addition, a special safeguard provision provides for a higher tariff when sugar imports exceed a certain quantity.

D

Deficit countries/markets/regions
Definition:

Geographic areas where more sugar is consumed than produced and which therefore cover their needs through sugar imports.

E

Emissions
Definition:

Generally signifies the release of noxious substances such as pollutants or greenhouse gases into the environment. A typical example is that of car exhaust fumes.

The Greenhouse Gas Protocol distinguishes between three types of emissions:

  • Scope 1 represents directly influenceable emissions from primary energy sources that a company owns or controls.
  • Scope 2 refers to indirectly influenceable emissions from purchased secondary energy sources that a company uses.
  • Scope 3 comprises other indirectly influenceable emissions from energy use in a company's upstream and downstream value chain.
Ethanol
Definition:

Ethanol is a form of alcohol and is a clear, flammable liquid. It is also known as pure alcohol, grain alcohol or drinking alcohol, and is found in drinks such as wine and beer. In recent years, ethanol has acquired great importance outside the beverage industry as a biofuel referred to as bioethanol. See bioethanol.

EU sugar regime
Definition:

In place since 1968, the European Union’s regulatory framework serves to organise the EU common market for sugar and ensure security of intra-EU sugar production. As of 1 October 2017, the quota system and the minimum beet price, which had been elements of the sugar regime, were abolished. Rules and arrangements such as the requirement to conclude sector-wide master agreements between beet growers and sugar companies, and price reporting by the European Commission, continue to apply.

F

Fruit juice concentrate
Definition:

Forming the basis for fruit juice drinks, fruit juice concentrates are sold into the fruit juice and beverage industry.

Fruit preparations
Definition:

Sometimes referred to as “fruit ingredients” in the industry. High-quality fruits are processed in liquid or chunk form and thermally preserved for further processing especially by the dairy, ice cream and bakery industries.

G

GMO
Definition:

Genetically modified organisms, or GMO, are organisms whose genetic make-up has been altered in a targeted way through genetic engineering.

I

Isoglucose
Definition:

Isoglucose, a liquid, is a sweetener based on starch that has been converted to sugar. At a fructose content of 42%, it has the same sweetness as sugar and is therefore used as a sugar substitute. The fructose content can be raised to as much as 55% through further process stages. Isoglucose is manufactured from grains, especially corn.

M

Modified starch
Definition:

A starch product obtained by physical, enzymatic or chemical processes.

Molasses
Definition:

Sweet, dark-brown by-product of sugar manufacturing, with the consistency of syrup. It still contains about 50% sugar, which cannot be further crystallised. Molasses is used predominantly in the manufacture of yeast and alcohol, and as a cattle feed supplement.

R

Raw sugar
Definition:

A semi-finished form of cane sugar (or of beet sugar) in which the sugar crystals are not yet completely freed from the adhering non-sugar materials, which give it its brown colour.

Refining
Definition:

The term “refining” in its general sense refers to a technical process for the cleaning, processing, separation or concentration of raw materials. In the case of sugar, it means the de-coloration of brown raw sugar (from sugar cane or sugar beet) through repeated recrystallisation.

S

Starch
Definition:

An organic compound and one of the most important energy storage materials in plant cells. In Europe, starch is mainly obtained from corn, wheat or potatoes. To produce starch, the starch-containing parts of the plants are milled to a small size and the starch is washed out. The starch is then extracted from the liquid through filtration and centrifugation steps. In the final stage, the starch is dried.

Sugar
Definition:

Sugar is obtained either from sugar beet or sugar cane. The term “sugar” includes granulated sugar for home use, glucose, fructose, lactose, and other forms. All belong to the nutrient group of carbohydrates. In sugar production from sugar beet, raw juice is extracted from beet pulp, then purified in a series of steps and finally thickened until sugar crystallises from it. The sugar is purified by recrystallising it several times so that clean, white crystals are obtained.

Sugar beet
Definition:

Sugar beet is an agricultural crop grown almost exclusively for sugar production. The sugar beet plant consists of the leaves and a large, fleshy root. The root stores sucrose, which is extracted in the sugar factory.

Sugar marketing year (SMY)
Definition:

The sugar marketing year of the European Union begins on 1 October and ends on 30 September of the following year. This definition applies for all regulations of the EU sugar market.

Sugar quota
Definition:

(applied until 30 September 2017): Under the EU sugar regime, a production quota for sugar and isoglucose was set for every EU member state that produces sugar. Each national quota was apportioned among the respective country’s sugar-producing companies as their individual production quota. This restricted production volumes and minimised surpluses.

T

Triticale
Definition:

As a hybrid grain resulting from the crossing of wheat and rye, triticale combines the characteristics of both these grains in terms of flavour and composition. Thanks to its higher starch content, triticale is also used as an energy crop for the production of bioethanol.

W

White sugar
Definition:

Also called granulated or table sugar, white sugar is produced by crystallisation and centrifugation.

B

Borrowings

= Bank loans and overdrafts, and other loans from non-Group entities
+ borrowings from affiliated companies
+ lease liabilities

C

CE
Capital employed

= (PP&E + intangibles including goodwill)
+ working capital I

D

Dividend yield

= Dividend per share ÷ closing share price × 100

E

EBIT
Operating profit

= Earnings before interest and tax and after exceptional items and results of equity-accounted joint ventures

EBITDA

= Operating profit before exceptional items, results of equity-accounted joint ventures, and operating depreciation and amortisation

EBITDA margin

= EBITDA ÷ revenue × 100

EPS
Earnings per share (basic and diluted)

= Profit for the period ÷ average number of shares outstanding

Equity ratio

= Equity ÷ total assets × 100

EVS
Equity value per share

= Equity attributable to shareholders of the parent
÷ average number of shares outstanding

F

FCF
Free cash flow

= Net cash flow from/used in operating activities
+ net cash from/used in investing activities

G

Gearing Ratio

= Net debt ÷ total equity × 100

I

IAV

Intangible assets including goodwill

N

Net debt

= Borrowings less (cash + cheques + other bank deposits
+ current securities + non-current securities)

O

Operating margin

= Operating profit before exceptional items ÷ revenue × 100

Operating profit

Operating profit before exceptional items and results of equity-accounted joint ventures

P

P/E
Price/earnings ratio

= Closing share price at financial year end ÷ earnings per share

PP&E
Property, plant and equipment

R

ROCE
Return on capital employed

= Operating profit before exceptional items and results of equity-accounted joint ventures ÷ capital employed × 100

ROS
Return on Sales

= Profit before tax ÷ revenue × 100

W

WC I
Working Capital I

= Inventories
+ trade receivables
+ other assets
– current provisions
– current prepayments received
– trade payables – other payables

Facebook