Third quarter 2023/24 : Tereos confirms record results in a normalising market

(April 2023 – December 2023)

• During the first nine months of the financial year, revenues amounted to €5,476 million, up 15% compared to the same period in 2022/23, driven by higher prices in the sugar and starches & sweeteners products segments.
• EBITDA reached €873 million, up 30% compared with the same period in 2022/23, reflecting the successful execution of the commercial strategies deployed.
• EBITDA over a rolling 12-month period stabilized at €1,182 million in the period to December 31, 2023, compared with €1,170 million in the period to end of September 2023.
• Recurring operating profit (EBIT) of €660 million, compared with €447 million in the first nine months of the previous year.
• Net debt, which reached €2,413 million, was down by €501 million compared to December 31, 2022, and by €288 million compared to March 31, 2023. Debt leverage improved and stood at 2.0x, compared to 2.8x at the end of March 2023.
• In line with Tereos’ objectives, structural debt – debt excluding working capital – reached €1,044 million at end of December 2023, an improvement of €167 million compared with end of March 2023.