{"id":16676,"date":"2022-12-06T10:44:28","date_gmt":"2022-12-06T09:44:28","guid":{"rendered":"https:\/\/tereos.com\/?post_type=press_release&#038;p=16676"},"modified":"2022-12-06T10:44:28","modified_gmt":"2022-12-06T09:44:28","slug":"half-year-2022-23-results-press-release","status":"publish","type":"press_release","link":"https:\/\/tereos.com\/en\/press-releases\/half-year-2022-23-results-press-release\/","title":{"rendered":"Half-year 2022\/23 results (press release)"},"author":1338,"featured_media":0,"template":"","categories":[],"class_list":["post-16676","press_release","type-press_release","status-publish","hentry"],"acf":{"cover_image":false,"cover_clone":{"cover_image":false},"file":{"ID":16700,"id":16700,"title":"tereos-group-financial-release-h1-2022-23","filename":"tereos-group-financial-release-h1-2022-23-1.pdf","filesize":506636,"url":"https:\/\/www.tereos.com\/app\/uploads\/2022\/12\/tereos-group-financial-release-h1-2022-23-1.pdf","link":"https:\/\/tereos.com\/en\/press-releases\/half-year-2022-23-results-press-release\/tereos-group-financial-release-h1-2022-23-2\/","alt":"","author":"1338","description":"","caption":"","name":"tereos-group-financial-release-h1-2022-23-2","status":"inherit","uploaded_to":16676,"date":"2022-12-06 09:28:33","modified":"2022-12-06 09:28:33","menu_order":0,"mime_type":"application\/pdf","type":"application","subtype":"pdf","icon":"https:\/\/tereos.com\/wp\/wp-includes\/images\/media\/document.png"},"pdf_clone":{"file":{"ID":16700,"id":16700,"title":"tereos-group-financial-release-h1-2022-23","filename":"tereos-group-financial-release-h1-2022-23-1.pdf","filesize":506636,"url":"https:\/\/www.tereos.com\/app\/uploads\/2022\/12\/tereos-group-financial-release-h1-2022-23-1.pdf","link":"https:\/\/tereos.com\/en\/press-releases\/half-year-2022-23-results-press-release\/tereos-group-financial-release-h1-2022-23-2\/","alt":"","author":"1338","description":"","caption":"","name":"tereos-group-financial-release-h1-2022-23-2","status":"inherit","uploaded_to":16676,"date":"2022-12-06 09:28:33","modified":"2022-12-06 09:28:33","menu_order":0,"mime_type":"application\/pdf","type":"application","subtype":"pdf","icon":"https:\/\/tereos.com\/wp\/wp-includes\/images\/media\/document.png"}},"headline":"Continuing results improvement","headline_clone":{"headline":"Continuing results improvement"},"has_anchors":false,"sections":[{"acf_fc_layout":"rich_text","anchor_title":"","text":"<p>\u2022 Revenues of \u20ac2,975 million, up 35% versus H1 21\/22 as a result of higher prices across all segments.<br \/>\n\u2022 EBITDA of \u20ac464 million, a substantial increase of 132% versus H1 21\/22 thanks to the strong performance of our commercial and hedging strategies, which protected our margins amid a sharp rise in energy and raw materials costs.<br \/>\n\u2022 EBITDA over a rolling 12-month period confirms the positive trend, reaching \u20ac946 million in the period to September 30, 2022, up from \u20ac799 million in the period to June 30, 2022.<br \/>\n\u2022 Recurring EBIT of \u20ac266 million, compared to \u20ac32 million in H1 21\/22.<br \/>\n\u2022 Net debt of \u20ac2,240 million, down \u20ac128 million compared to September 30, 2021 and down \u20ac146 million versus March 31, 2022 as a result of positive net cash from operating activities, which covered CAPEX and change in working capital.<br \/>\n\u2022 Debt leverage continued to improve, dropping to 2.4x from 3.5x at March 31, 2022.<br \/>\n\u2022 G\u00e9rard Clay has been acting as Managing Director in his capacity as Chairman of the Board of Directors following the previous Managing Director\u2019s departure on September 30, 2022. The Board of Directors confirms the continuity of the Group\u2019s strategy defined since 2021, which has delivered another improvement in results.<\/p>\n<p><strong><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-14480 alignleft\" src=\"https:\/\/tereos.com\/app\/uploads\/2021\/11\/sans-titre-1.png\" alt=\"\" width=\"200\" height=\"200\" srcset=\"https:\/\/www.tereos.com\/app\/uploads\/2021\/11\/sans-titre-1.png 200w, https:\/\/www.tereos.com\/app\/uploads\/2021\/11\/sans-titre-1-150x150.png 150w\" sizes=\"(max-width: 200px) 100vw, 200px\" \/>G\u00e9rard Clay, Chairman of Tereos\u2019 Board of Directors, commented:<\/strong><\/p>\n<p><em>\u201cThe interim results confirmed the strong operating and financial performance as evidenced in the FY 21\/22 consolidated financial statements. Despite the current geopolitical environment, the strategic objectives set by the Board of Directors for 2024 have been met: The profitability of our operations rose, we generated positive net cash from operating activities, we lowered our structural debt significantly and we improved our debt leverage. A new high-performance management structure has been introduced following the transformation of the cooperative we launched two years ago. As a result, thanks to rigorous management of our energy requirements, Tereos reported on October 18, 2022 a price of \u20ac40.04\/t @16 (excluding premium and field allowance) for 100% of the sugar beet delivered by cooperative members in the 22\/23 harvest. Today more than ever before, Tereos stands ready to meet the decarbonisation and energy savings challenges that lie ahead.\u201d<\/em><\/p>\n"}],"flexible_editorial_clone":{"has_anchors":false,"sections":[{"acf_fc_layout":"rich_text","anchor_title":"","text":"<p>\u2022 Revenues of \u20ac2,975 million, up 35% versus H1 21\/22 as a result of higher prices across all segments.<br \/>\n\u2022 EBITDA of \u20ac464 million, a substantial increase of 132% versus H1 21\/22 thanks to the strong performance of our commercial and hedging strategies, which protected our margins amid a sharp rise in energy and raw materials costs.<br \/>\n\u2022 EBITDA over a rolling 12-month period confirms the positive trend, reaching \u20ac946 million in the period to September 30, 2022, up from \u20ac799 million in the period to June 30, 2022.<br \/>\n\u2022 Recurring EBIT of \u20ac266 million, compared to \u20ac32 million in H1 21\/22.<br \/>\n\u2022 Net debt of \u20ac2,240 million, down \u20ac128 million compared to September 30, 2021 and down \u20ac146 million versus March 31, 2022 as a result of positive net cash from operating activities, which covered CAPEX and change in working capital.<br \/>\n\u2022 Debt leverage continued to improve, dropping to 2.4x from 3.5x at March 31, 2022.<br \/>\n\u2022 G\u00e9rard Clay has been acting as Managing Director in his capacity as Chairman of the Board of Directors following the previous Managing Director\u2019s departure on September 30, 2022. The Board of Directors confirms the continuity of the Group\u2019s strategy defined since 2021, which has delivered another improvement in results.<\/p>\n<p><strong><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-14480 alignleft\" src=\"https:\/\/tereos.com\/app\/uploads\/2021\/11\/sans-titre-1.png\" alt=\"\" width=\"200\" height=\"200\" srcset=\"https:\/\/www.tereos.com\/app\/uploads\/2021\/11\/sans-titre-1.png 200w, https:\/\/www.tereos.com\/app\/uploads\/2021\/11\/sans-titre-1-150x150.png 150w\" sizes=\"(max-width: 200px) 100vw, 200px\" \/>G\u00e9rard Clay, Chairman of Tereos\u2019 Board of Directors, commented:<\/strong><\/p>\n<p><em>\u201cThe interim results confirmed the strong operating and financial performance as evidenced in the FY 21\/22 consolidated financial statements. Despite the current geopolitical environment, the strategic objectives set by the Board of Directors for 2024 have been met: The profitability of our operations rose, we generated positive net cash from operating activities, we lowered our structural debt significantly and we improved our debt leverage. A new high-performance management structure has been introduced following the transformation of the cooperative we launched two years ago. As a result, thanks to rigorous management of our energy requirements, Tereos reported on October 18, 2022 a price of \u20ac40.04\/t @16 (excluding premium and field allowance) for 100% of the sugar beet delivered by cooperative members in the 22\/23 harvest. Today more than ever before, Tereos stands ready to meet the decarbonisation and energy savings challenges that lie ahead.\u201d<\/em><\/p>\n"}]}},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Half-year 2022\/23 results (press release) - Tereos<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tereos.com\/en\/press-releases\/half-year-2022-23-results-press-release\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Half-year 2022\/23 results (press release) - Tereos\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tereos.com\/en\/press-releases\/half-year-2022-23-results-press-release\/\" \/>\n<meta property=\"og:site_name\" content=\"Tereos\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tereos.com\/en\/press-releases\/half-year-2022-23-results-press-release\/\",\"url\":\"https:\/\/tereos.com\/en\/press-releases\/half-year-2022-23-results-press-release\/\",\"name\":\"Half-year 2022\/23 results (press release) - 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