2023-06-06 10:17:20
The uprooting of beets in the Paris region. France is the leading sugar beet producer in the European Union and the second in the world. NATHAN LAINE/Hans Lucas via AFP
Tereos and Cristal Union publish record sales and results. The two sugar giants can better remunerate planters.
The two French sugar giants, Tereos and Cristal Union, have regained air and serenity thanks to the surge in sugar prices. The turnover of Tereos, owner of the Béghin Say and La Perruche brands, soared by 28% in 2022, to 6.6 billion euros. That of Cristal Union (Daddy, Erstein, etc.), by 30%, to 2.3 billion euros.
In volume, the two rivals did not sell much more sugar than in previous years. But the surge in prices has enabled them to improve their operating income and reduce their debt ratio, despite costs that are also on the rise.
Read alsoThe executive at the bedside of Buitoni and Tereos employees
On average, sugar prices have fallen from 400-420 euros per ton in 2021 to 800 euros in 2022, due to a lack of sufficient production in Europe. “France was spared, but the frost was, for example, dramatic for English sweets”, notes Xavier Astolfi, Managing Director of Cristal Union. These course levels have not been seen since 2013. They make it possible to relegate to the rank of bad memories…
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