Cristal Union reaps the fruits of its transformation with good financial results for 2020, and displays an ambitious strategy for the future
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.Click here to connect to the source of this storyClick here for more News and Views
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