Tereos sees revenues rise by 25%

Tereos, the French maker of sugar and starch products for food and other industries, as posted financial results for the 2010/11 period which show a rise in revenues to €4.4 billion (+25%), with a net income of €237 million (+57%).

The Tereos Group believes these are solid results when set against a context of shortages experienced by the global sugar market, pressure on the ethanol market, an increase in global cereals prices and the completion of the European sugar sector’s consolidation.

“Tereos has achieved excellent results against the backdrop of rising sugar, ethanol and cereal prices. Revenues grew by 25% and net income was 57% higher at €237 million,” said Philippe Duval, chairman the executive board.

“We have given priority to the expansion of our starch businesses in China and Brazil, and with the support of our main partners (Wilmar and Petrobras), we aim to capture growth in these regions.” 

Thierry Lecomte, chairman of the supervisory board, added: “The sugar beet campaign in Europe is excellent, with record yields of 15 tonnes of sugar per hectare in France.

“The Tereos Group is investing to maintain the competitiveness of European sugar beet production in order to reduce the cost differential between beet sugar and cane sugar. With this in mind, it is essential that quotas are maintained in Europe until 2020.”