French sugar maker Cristal Union posts record yearly profit

Suedzucker AG

04/06/2024 10:30

PARIS, June 4 (Reuters) - France's second-largest sugar
maker Cristal Union on Tuesday posted a record net profit of 307
million euros ($334 million) for its 2023/24 financial year, up
72% from the 179 million reported a year earlier, helped by high
sugar prices.
    Sales were up 20% at 2.8 billion euros in the year ended
Jan. 31, while adjusted earnings before interest, tax,
depreciation and amortisation (EBITDA) rose 50% to 432 million
euros, the cooperative group said.
    "The Group was able to take advantage of a buoyant sugar
market and satisfactory sugar beet yields despite a fall in area
(-2%) and particularly difficult weather conditions," it said in
a statement.
    Other European sugar and ethanol groups, including France's
largest producer Tereos and Germany's Suedzucker  SZUG.DE , have
also reported strong earnings in the past fiscal year as they
benefitted from the rise in prices to record highs.
    ($1 = 0.9182 euros)

 (Reporting by Sybille de La Hamaide; Editing by Mark Potter
)
 ((Sybille.deLaHamaide@thomsonreuters.com; +336 8774 4148;))