Cristal Union reaps the fruits of its transformation with good financial results for 2020, and displays an ambitious strategy for the future

Cristal Union
Monday, June 7, 2021
In the 2020/21 financial year, the annual sales amounted to 1.7 billion euros, up 3.8%. Cristal Union's industrial agility and its prudent and controlled management of agricultural and industrial structural costs are rewarded by the restoration of margin rates with consolidated EBITDA reaching € 201 million (compared to € 63 million over the previous year). In addition, at December 31, 2020, the amount of shareholders' equity stood at € 1,141 million, for a gearing ratio of 0.32x , an improvement, allowing the Group to continue its deleveraging and offering a margin of substantial manoeuvre for future investments. These good results have already led to a first increase in the remuneration of Cristal Union cooperative farmers, with an average price of € 25.5 per tonne of beet from the 2020 harvest. For the next season, the Group is in a position to to announce an average price perspective of 27 € / t, with the objective of reaching 30 € / t in the near future.
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