Third-quarter 2021/22: Improved results
Revenues of €1,345 million in Q3 21/22, up 17% at current exchange rates, supported by positive ethanol and sugar prices and activity in the starch segment. Over the first 9 months of the financial year, revenues totaled €3,544 million (up 11% at current exchange rates).
EBITDA of €223 million in Q3 21/22, up 65% at current exchange rates. Over the first 9 months of 2021/22, EBITDA totaled €424 million (up 14% at current exchange rates).
Debt leverage stood at 4.9x (vs. 5.5x at March 31, 2021). Net debt of €2,524 million at December 31, 2021, stable compared to its level at March 31, 2021 as a result of positive cash flow from operations.
The beet campaign in Europe ended in late January with volumes and yields in line with average levels for the past five years.
Tereos confirms its EBITDA target of between €600 million and €700 million on a 12-month rolling basis to September 30, 2022. EBITDA on a 12-month rolling basis to December 31, 2021 stood at €516 million.