Brazil's Raizen quarterly profit more than doubles, beats expectations
Reuters
SAO PAULO, Aug 11 (Reuters) - Brazilian energy company Raizen SA (RAIZ4.SA) said on Thursday its adjusted net income more than doubled in the fiscal first quarter, beating analysts' estimates.
The company, a joint venture between Cosan SA (CSAN3.SA) and Shell (SHEL.L), reported adjusted net income of 1.1 billion reais ($213.2 million), well above the Refinitiv consensus estimate of 780 million reais.
Raizen's operating net revenue rose 71.8% year-on-year to 66.26 billion reais.
ELMAT: I think Shell is selling Brazilian ehtnaol to Europe like there is no tomorrow
Brazil to export record volume of ethanol to Europe this year -S&P Global
Reuters
Sept 19 (Reuters) - Brazil's ethanol exports to Europe are set to reach a record high this year, as foreign markets look more appealing than domestic, according to an analysis by S&P Global Commodity Insights.
This year through August, Brazil shipped about 427 million liters of ethanol to Europe, 435% above the figures from the same period in 2021. By the end of 2022, the South American country is expected to export 600 million liters of the biofuel to Europe, said S&P. |
