Biosev S.A. announced consolidated earnings and production results for the second quarter and six months ended September 30, 2017. For the quarter, the company reported net revenue of BRL 1,780,041,000 against BRL 2,229,541,000 a year ago. Operating income expenses was BRL 216,053,000 against BRL 204,054,000 a year ago. Profit before taxes on income was BRL 172,386,000 against loss before taxes on income of BRL 2,329,000 a year ago. Net income was BRL 32,848,000 against BRL 23,518,000 a year ago. Adjusted EBITDA (including resale/HACC) was BRL 374 million against BRL 457 million a year ago, down 18.3%. Total CAPEX was BRL 185,008,000 against BRL 261,501,000 a year ago.

For the six months, the company reported net revenue of BRL 3,612,283,000 against BRL 3,902,223,000 a year ago. Operating income expenses was BRL 421,000,000 against BRL 343,640,000 a year ago. Loss before taxes on income was BRL 688,857,000 against BRL 50,199,000 a year ago. Net loss was BRL 544,455,000 against BRL 329,789,000 a year ago. Net cash provided by operating activities was BRL 216,697,000 against net cash used in operating activities of BRL 672,274,000 a year ago. Increase in property, plant and equipment was BRL 164,861,000 against BRL 246,132,000 a year ago. Additions to biological assets were BRL 271,622,000 against BRL 238,808,000 a year ago. Increase in intangible assets was BRL 1,285,000 against BRL 2,876,000 a year ago. Adjusted EBITDA (including resale/HACC) was BRL 540 million against BRL 597 million a year ago, down 9.5%. Total CAPEX was BRL 451,713,000 against BRL 512,004,000 a year ago. Net debt as on September 30, 2017 was BRL 4,934 million.)

For the quarter, the company reported total production of 1,787,000 tons against 1,634,000 tons a year ago. Sugar production was 869,000 tons against 830,000 tons a year ago. Ethanol production was 515,000 m3 against 448,000 m3 a year ago. Cogeneration production was 350 GWh against 319 GWh a year ago.

For the six months, the company reported total production of 2,944,000 tons against 2,692,000 tons a year ago. Sugar production was 1,456,000 tons against 1,352,000 tons a year ago. Ethanol production was 835,000 m3 against 749,000 m3 a year ago. Cogeneration production was 628 GWh against 557 GWh a year ago. The increase in production in terms of tons of product explained primarily by the 6.8% increase in crushing volume, the 0.7% increase in Cane TRS and the improvement in industrial efficiency.

The company re-affirmed earnings and production guidance for the fiscal 2018. For the year, the company expects crushing in the range of 31.5 million - 33.5 million tons, sugarcane TRS in the range of 129.0 kg/ton -131.0 kg/ton, total TRS in the range of 4.06 million tons - 4.39 million tons.

For the year, the company re-affirmed guidance for capex of BRL 1,250 million, +/- 90.