The share of ethanol in the production mix of Biosev, one of the global leaders in sugarcane processing, rose to 62.1% in the first half of the 2018/19 crop year, from 48.3% a year earlier.

The Brazilian company said this increase was due to ethanol’s higher profitability compared to sugar. Anhydrous ethanol represented 19.9% of total ethanol production in the period, covering the six months between April and September 2018.

Total revenues fell by 9.6% to BRL 3.42 billion (USD 914m/EUR 807m). The amount includes BRL 1.26 billion from ethanol, where revenues jumped by 39.3%. The product was mainly sold on the domestic market.

Biosev reported a net loss of BRL 662.0 million for the six months, widening from BRL 544.5 million a year earlier.

The company last week sold its unit Usina Giasa, whose annual milling capacity amounts to 1.2 million tonnes of sugarcane, for BRL 70 million to M&N Participações. This will help Biosev reduce its debt.


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