Raízen reports adjusted profit of BRL 1.07 billion in the 2nd fiscal quarter, up 149% yoy

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A root recorded a profit of BRL 1.07 billion in the second quarter of fiscal year 2021/2022 – equivalent to the third quarter of the year -, more than double (a 149%) increase of the gain of BRL 429.4 million in the same period. 2020 period.

The comparison is on a pro-forma basis, in which Biosev’s results between July and September last year did not have the adjustments and eliminations between businesses considered in the same period of 2021.

The acquisition of Biosev, which consolidated Raízen as the world’s largest sugarcane producer, was completed on August 10 of this year.

In the accounting reading, the company’s profit growth in one year was smaller, 44%, in a total of R$ 730.6 million calculated, without adjustments, in the third quarter.

In terms, once again, on a pro forma basis, Raízen’s net revenue rose 59.4% year-on-year, reaching BRL 48.91 billion in the quarter ended in September.

On the same basis of comparison, the operating result measured by the Ebitda was positive at R$3.27 billion, up 19.5%, in adjusted values.

The performance is attributed to the increase in bioenergy prices, mainly the ethanol, and sugar, combined with strong demand for fuel both in Brazil and in Argentina.

Reference: CNN Brasil

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