“Can and must do better.”
In the opinion of Gérard Clay, chairman of the supervisory board of Tereos (5 billion euros in turnover), the recovery of the French sugar giant will still take time.
To discover
Taxes 2022: all about your tax return
Shaken by a governance crisis in 2020 and, in 2018 and 2019, by the difficulties arising from sugar overproduction in Europe, the cooperative reported on Thursday an 18% increase in turnover for its 2021 financial year. 2022 ended at the end of March.
This was driven by the rise in sugar prices in Europe.
Tereos returned to profit with a net profit of 172 million euros over the period, against a loss of 133 million a year earlier.
But this return to form is to be put into perspective: nearly half of these profits (80 million) are linked to capital gains from asset disposals undertaken for eighteen months.
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New turbulence at the head of the sugar giant Tereos
A policy decided to clean up the accounts, marked by an excessive debt of more than 2.5 billion euros.
After selling its activities in 2021…
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