our values
Respect
defines the way we
relate to people in our
Group and the community
Tenacity
encourages us to
work towards perfection
through every endeavour.
Integrity
guides our every action.
Passion
gives us the strength
and enthusiasm to contribute
always with commitment..
Innovation
inspires us to advance
by taking the initiative.
VALUE
We created in 2018
OUR BUSINESS
at a glance
OUR ORGANISATIONAL STRUCTURE
The Group consists of four autonomous clusters: Cane, Power, Brands, and Property and Leisure. Each cluster offers unique business know-how that sets it apart from its competitors and that provides a strong platform for value growth.
These clusters are autonomous in their decision-making processes, budgeting and reporting, as well as in the day-to-day running of their operations. The leadership team of each cluster is fully accountable for their cluster’s respective performance, and is empowered to develop their own businesses and to realise international growth opportunities in line with proposals and plans approved by the Board of directors.
The clusters are supported by specific centralised functions aimed at developing a shared performance-based culture, and at driving operational excellence and efficiencies across the Group.
OUR BUSINESS
Model
Throughout this challenging year, Terra’s employees have continued to make an invaluable contribution to the Group’s performance and sometimes under very tough conditions. On behalf of the Board I would like to convey our sincere appreciation to Terra’s employees for their continuing motivation and contribution
The Group’s generally strong performance in this very tough year is attributable to the hard work and commitment of our people across the Company. I wish to express my appreciation to my colleagues on the executive and the management teams in each of the clusters, as well as to Terra’s employees at all levels in the Group, for contributing to the development and strong execution of our strategy in a very challenging operating environment.
FINANCIAL
Review
CANE
Our Purpose
To be a global player in growing cane and manufacturing sugar, with a particular focus on specialty sugars.
Terra has been growing sugar cane and producing sugar since 1838, when the Harel brothers acquired the Belle Vue sugar estate in the north of Mauritius. Today, we have around 6,000 hectares of agricultural land, and we operate one of the most modern sugar producing factories on the island with a processing capacity of 336 tonnes of cane per hour. In a typical year, the mill processes around 875,000 tonnes of sugar cane and produces 93,000 tonnes of sugar. We also jointly manage two sugar estates and factories in Côte d’Ivoire.
POWER
Our Purpose
To supply reliable and affordable electricity to the country, be available on the CEB grid and consolidate our position as a major player in the production of renewable energy
Terragen is a power producer that supplies electricity to the Central Electricity Board (CEB), as well as electricity and steam to Terra’s sugar mill, through two 35 MW thermal units. Operating in a joint venture partnership with French company Albioma, we generate electricity and steam by burning bagasse and cane trash during the crop season (from July to December), and imported coal during the intercrop season.
BRANDS
Our Purpose
We build leading brands in our markets, and we market the spirit of our brands internationally
Terra Brands Ltd, the holding company of the Grays cluster, is one of the pioneers in the Mauritian distillation sector, the leading local producer of alcoholic drinks derived from sugar cane, and a top importer and distributor of quality spirits and wines. Established in 1931, we have diversified our activities to include the distribution and sale of personal care and cosmetics to the end consumer.
PROPERTY & LEISURE
Our Purpose
To increase and unlock the value of the Group’s land holdings
Established in January 2016,
our Property and Leisure business (Novaterra) focuses on utilising Terra’s land assets to establish an innovative property-development cluster in the north of Mauritius. The cornerstone of this development will be the Beau Plan Smart City and the Balaclava Golf and Lifestyle Estate, both of which aim to positively transform the region.
INVESTMENTS
in Associates
GROUP LEVEL
Functions
Although each of Terra’s clusters is completely autonomous in its decision-making processes, budgeting and reporting – and each leadership team is individually accountable for their cluster’s respective performance – there are some areas where strategic guidance and support services are provided at a Group level. This section briefly reviews the material performance and outlook of the Group-level activities relating to Terra’s management of employees, the environment and the community.
OUR LEADERHIP
Board of Directors
Alain Rey
Chairman
Maurice de Marassé Enouf
Non-Executive Director
Dominique de Froberville
Non-Executive Director
Alexis Harel
Executive Director
Didier Harel
Independent Non-Executive Director
Henri Harel
Executive Director
Nicolas Maigrot
Managing Director
Nikhil Treebhoohun
Independent Non-Executive Director
Alain Vallet
Non-Executive Director
Margaret Chui Puing Wong Ping Lun
Independent Non-Executive Director
Louis Denis Koenig
Administrative Executive
OUR LEADERHIP
Management Team Profiles
Marie-Annick Auguste
CSR Manager
(Terra Foundation)
Nicolas Eynaud
Real Estate Development Executive
(Property and Leisure)
Edwige Gufflet
Managing Director
(L’Aventure du Sucre)
Jean-Marc Iweins
Plant Manager
(Power)
John Laguette
Chief Information Officer
(Group)
Steeve Lareine
Group Finance
Manager
Cindy Leung
Distillery Manager
(Grays Distilling)
Sébastien Mamet
General Manager
(Cane)
Iqra Mosaheb
Group Legal Advisor
Christopher Park
Group Human Resource
Manager
Ajay Parsan
Factory Manager
(Terra Miling)
Julien Rousset
Head
(Strategic Development Function)
Joël Villeneuve Anaudin
General Manager
(Terra Finance)
SHARE ANALYSIS
and Stock Exchange Performance
ADMINISTRATIVE
FULL REPORT
GET SOME SECTIONS
of the Annual Report