The cooperative benefits from the rise in sugar prices and from its past investments.
Of the two rival cooperatives in the French sugar sector, Cristal Union and Tereos, it is the first that is making the most of a particularly favorable economic situation. The price of sugar has risen by 25% over one year. “In a buoyant market, we did well. Our strategy is winning“, welcomes Xavier Astolfi, the general manager of Cristal Union.
The turnover of the cooperative, which comes half from the production of sugar from beet, increased by 6.4% during its last staggered financial year, to 1.8 billion euros. Its net income reached 97 million euros over the period, up 40%. Tereos also published net income of 172 million euros last week against a loss of 133 million a year earlier. But half of this improvement is attributable to the disposals carried out over the past 18 months to reduce the group’s debt. Cristal Union, for its part, continued to reduce its own, to 334 million euros…
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