Raízen has a crushing capacity of 21mt in Q1 2019/20; the annual drop is 7%
Infrastructure and energy company Cosan reported on Monday that it posted net income of $ 418.3 million in the second quarter of the year, compared to a loss of $ 64.3 million in the same period last year.
Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) totaled R $ 1.18 billion, up 14.1% year-on-year.
Cosan also said that the sugarcane milling of Raízen Energia, the company’s joint venture with Shell, will be between 61 million and 63 million tons in the 2019/20 season, stable compared to the previous forecast.
According to Cosan, rainfall delayed the start of the company’s operations in the 2019/20 harvest, and crushing in the period totaled 21 million tons (-7%). The average sugarcane yield was 9.4 kg ATR / ha (-2%), due to the higher sugarcane sucrose dilution.
The equivalent sugar production was 2.4 million tons (-11%), as the focus was on maximizing ethanol production (51% of the sugarcane mix), according to the company.
Still according to the company, the volume of sugar sold also fell 11% in the annual comparison, reaching 601 thousand tons. Already the volume of ethanol traded rose 6%, to 401 million liters.
Raízen Energia had adjusted Ebtida of R $ 402 million (-18% compared to the same period last year), mainly reflecting the lower sales volume of its own sugar and bioenergy in the period.
The company’s adjusted net revenue, in turn, totaled R $ 6.08 billion in the period, a positive annual variation of 48.9%.
Raízen Combustíveis Brasil reached adjusted EBITDA of R $ 565 million (+ 4.5% compared to the same period last year) and an 8% growth in sales volume, especially ethanol and diesel.