SÃO MARTINHO RECORDS HIGHEST REVENUE AND NET PROFIT IN ITS HISTORY IN THE 2023/24 HARVEST

The sugar-energy group São Martinho, a major sugar and ethanol producer in Brazil, achieved a net profit of R$1.48 billion in the 2023/24 harvest, up 45.3% from R$1.02 billion in 2022/23. Net revenue increased by 4.2%, reaching a record R$6.92 billion. The company highlighted the recovery of sugarcane productivity and record sugar production, contributing to the highest revenue in its history. São Martinho’s ethanol sales faced challenges due to low demand, resulting in prices below production costs. Adjusted EBITDA was R$3.07 billion, down 8.5%. The board proposed a 25% dividend distribution of net profit, with overall shareholder remuneration expected to reach 50% of cash profit.
Source: Nova Cana