Tereos posts loss as prices fall across assets, Brazil volumes dip

Suedzucker AG

18/02/2026 07:45

PARIS, Feb 18 (Reuters) - French sugar, starch and ethanol producer Tereos slumped to a 598 million euros ($707.5 million) net loss for the first nine months of its 2025/26 financial year, it said on Wednesday, citing a decline in prices across product segments and reduced volumes in Brazil.

The loss compares with a 218 million euros profit in the same period of 2024/25. Goodwill and asset impairments totaling 499 million euros, mainly within its Sugar France unit, also contributed significantly to the negative result.

Revenue declined 16% year-on-year to 3.9 billion euros, while adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) dropped 57% to 291 million euros.

Tereos, like competitors such as Germany's Suedzucker SZUG.DE and Nordzucker, and France's Cristal Union, has faced pressure from a slump in sugar prices. EU sugar prices recently neared four-year lows, while global prices hovered at five-year lows, prompting factories to scale back production.

The group's debt rose to 2.3 billion euros by December 31, up from 2.1 billion a year earlier, raising leverage to 5.6 times earnings from 2.8 times in the prior year.

The group kept its outlook for a temporary peak in leverage at around 6.0 times.

Last month, Tereos issued a 300 million euro bond with an 8.125% coupon. Additionally, it signed a deal to sell a Brazilian plant, together with 2 million tonnes of sugar cane, to local company Viralcool.

($1 = 0.8452 euros)

 (Reporting by Sybille de La Hamaide; Editing by David Holmes)

 ((Sybille.deLaHamaide@thomsonreuters.com; +336 8774 4148;))