BRAZIL: Adecoagro increases ethanol production by 47% in the 1Q
Published: 05/15/2018, 5:13:48 PM
Adecoagro, one of South America's leading agricultural companies, increased its ethanol production by 47.3% in the first quarter of the year, to 89.9 million litres, in relation to the same time last year, reports Agência Estado news website.
Total sugarcane crush increased by 4.3%, to 1.5 million tonnes. Sugar production fell by 65.9%, to 20,400 tonnes.
Adecoagro increased its net profit by 43% in the first quarter of the year, to US$8.53 million, compared to the same period of last year. Adjusted Ebitda (earnings before interest, taxes, depreciation and amortization) increased 38.4%, to US$ 61.94 million.
Adjusted EBITDA margin increased from 28% to 41.9%, and net revenue declined 7.5%, to US$148 million.
Adjusted EBITDA for the sugar, ethanol and power cogeneration business unit increased 58.6%, to US$48 million, due to an increase in sugarcane grinding, higher average sales prices and higher sales volumes of ethanol.