BRAZIL: Raízen Energia crushed 60.7 million tonnes of cane in 2017/18
Published: 02/14/2018, 5:31:08 PM
Brazilian sugarcane processor Raízen Energia crushed 60.7 million tonnes of cane in the first nine months of the 2017/18 season, up 2% from the same time in the year prior, reports Sugaronline.
The company said in its earnings report that it sold 3.5 million tonnes of sugar from April to December 2017, in comparison to 3.2 million tonnes at the same time in 2016. Revenue from sugar sales totaled BRL4.7 billion (US$1.4 billion), up 8.4% from the prior season.
Ethanol sales reached 3 million cubic metres, in comparison with 2.6 million cubic metres in the year prior. That was equivalent to BRL5 billion (US$1.5 billion) in revenue, a 10.5% increase from the first nine months of the 2016/17 season.
Raízen Energia increased its revenue from power cogeneration sales by 76.9%, to BRL843.2 million (US$255.8 million).
The sugarcane processor had a total revenue of BRL10.2 billion (US$3.1 billion) in the first nine months of the 2017/18 season, up 12.4% year-on-year.
Productivity measured by tonnes of Total Recoverable Sugars (ATR) per hectare totaled 9.8 tonnes per hectare, down 5% from the year prior.
Raízen Energia used 55% of its sugarcane to produce sugar from April to December 2017, and 45% for ethanol output.
Adjusted EBITDA increased 12% to BRL3.1 billion (US$947 million). Net profit totaled BRL372.2 million (US$113 million), down 66.5% from the prior season, impacted by worsening financial results due to the devaluation of the Brazilian currency in relation to the dollar.