Tereos Sugar Europe - 1st quarter results driven by higher sugar prices

Tereos

Wednesday, August 2, 2023

The Tereos Sugar & Renewables Europe division’s results were mainly driven by higher sugar prices achieved through a targeted commercial strategy, as well as the successful implementation of the hedging strategy. Revenues for the Sugar and Renewables Europe division amounted to €647 million in Q1 23/24, up 25% at current exchange rates from €517 million in Q1 22/23. The division’s adjusted EBITDA reached €91 million in Q1 23/24, up 10% at current exchange rates from €83 million in the same period of FY 22/23. The division’s recurring EBIT amounted to €72 million in Q1 23/24, compared to €62 million in the same period of FY 22/23.

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