Tereos, the French cooperative agroindustrial group specialising in the primary processing of sugar beet, sugar cane and grains, has reported revenues up 14% to €5 billion and adjusted EBITDA up 20% to €904 million for its financial year just concluded.
“Tereos has achieved outstanding results, with revenues climbing 14% and EBITDA 20%,” said Alexis Duval, Tereos CEO. “This performance reflects a positive economic environment over the past year, as well as the benefits of our long-term strategy marked by a major industrial restructuring, our successful international expansion and the development of our product portfolio. Our good performance enables us to continue rolling out our investment plan with a view to further strengthen our competitiveness and consolidate our positions.”
“The 2011/12 sugar beet campaign was outstanding, with yields of 96 tonnes per hectare in France (16% sugar content),” said Thierry Lecomte, chairman of Tereos' Supervisory Board. “The Group's sustained performance over the last few years enables the Group to offer sustainable and profitable outlets for the cooperative growers, which is Tereos’ mission as a cooperative. Looking ahead to the sugar regime reform, we are going to further strengthen our competitiveness in sugar beet in France through a major energy savings investment plan. Tereos’ key developments and strategy are guided by strong cooperative values: long-term commitment, solidarity and fairness amongst cooperative growers.”
Tereos is developing its product portfolio in France by launching the world's first beet vinasse-based betaine production unit with Dupont. Tereos has acquired the Haussimont potato starch unit, enabling it to supplement its commodities portfolio to include potato-based starch. The Lillebonne site has embarked on its conversion to cover food products with the launch of gluten production.
Tereos is also continuing its international expansion. In Europe, the Group has further strengthened its position with the acquisition of the Kojetin distillery in the Czech Republic. Tereos announced the acquisition of the Ludus sugar plant in Romania in October 2012. From this development base in Central Europe, Tereos will be able to support its industrial customers on a market where sugar consumption is expected to increase over the coming years. In China, Tereos, in partnership with Wilmar, Asia's leading agrifood group, has launched work to build a first wheat starch facility in Dongguan, in Southern China. In Brazil, the construction of a corn starch unit also started in Palmital, in the Center-South region.
