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Copersucar concludes the 23/24 crop with record crushing and growth in volumes traded


Key Highlights of the 2023/24 Crop-Year:

  • Associated mills processed over 110 million tons of sugarcane, marking a 23% increase compared to the previous crop; crushing in the Centro-Sul region grew by 19%
  • 13 million tons of sugar and 17 billion liters of ethanol were traded
  • Copersucar and Evolua Etanol, along with two mills, received certification for the commercialization of ethanol destined for SAF production
  • The exclusive ethanol supply volumes from U.S. distilleries to Eco-Energy were expanded by 55%
  • The company also initiated the construction of a new renewable diesel terminal in the U.S.
  • Sustainable ecosystem impact:
  • Generation of 8,000 GWh of renewable electricity per year, equivalent to the annual consumption of a city the size of Paris
  • Volume of ethanol traded prevented the emission of 36.7 million tons of CO2 during the crop-year, equivalent to the annual consumption emissions of 18 million gasoline vehicles
  • Sugar sold globally feeds approximately 525 million people annually across more than 70 countries
  • Over 5 million CBios (decarbonization credits) generated compared to 4.6 million in the 22/23 crop

São Paulo (SP), June 19, 2024 – With the movement of 13 million tons of sugar and 17 billion liters of ethanol, Copersucar S.A. concluded the 23/24 crop-year reinforcing its leadership in sustainable food production, renewable energy, and biofuels. Driven by strategic investments, technological innovation, and a commitment to sustainability, the company achieved significant milestones, demonstrating resilience in a challenging market environment. The crushing volume of associated mills grew by 23% compared to the previous crop, while crushing in the Centro-South region increased on average by 19%.

The company recorded its fifth-best result since its launch, with a net profit of R$ 281 million and EBITDA of R$ 1.1 billion, marking the third consecutive crop with EBITDA exceeding R$ 1 billion. “Despite record volumes, this crop was marked by challenges in our sector due to commodity price volatility, exchange rates, and high interest rates. At Copersucar, we managed to maintain stability in operational results thanks to our broad portfolio, market price acquisition and sales model, progress in structural business, and efficient risk management,” explains Tomás Manzano, CEO of Copersucar.

Portfolio and Investments

A highlight of the 23/24 crop-year was Copersucar’s entry into the renewable electricity market through the acquisition of 50% of NewCom, a commercial entity focused on the free market within the Comerc Group. With 90 clients in its portfolio and a revenue of R$ 431 million in 2023, the new company emerges as a prominent force in the sugarcane-energy sector. “Through this partnership, we have expanded our business portfolio into a market of great opportunities, more dynamic and competitive, which is redefining the relationships between energy consumers and suppliers,” comments Manzano.

In 2023, Copersucar, Evolua Etanol, and two partner mills were certified for the commercialization of ethanol destined for SAF (Sustainable Aviation Fuel) production, with ongoing certification processes for other mills.

During the 23/24 crop, the company invested R$ 126 million in the optimization and maintenance of its logistics network and strategic advancement of Eco-Energy, with the construction of a new terminal for renewable diesel in the United States. Focused on scaling in the North American market, the exclusive ethanol supply base grew by 55%.

With a focus on capital allocation efficiency, the company sold its stake in Opla Logística, maintaining access to the company’s system through long-term operational contracts.

Copersucar Ecosystem

The Copersucar business ecosystem generated 8,000 GWh of renewable electricity, equivalent to the consumption of a city the size of Paris, and served customers in over 70 countries, contributing to feeding approximately 525 million people. Operating in 337 municipalities in Brazil, the company’s operations generate more than 190 thousand direct and indirect jobs. “This scope not only demonstrates our global importance but also our continuous commitment to sustainability and economic development,” comments Manzano.

The volume of ethanol traded in the 23/24 crop contributed to avoiding the emission of approximately 37 million tons of CO2, which can be compared to the volume generated by 18 million vehicles fuel with gasoline in one year. In the Renovabio Program, Copersucar associated mills generated 5 million CBios, equivalent to 5 million tons of avoided CO2 emissions.

Copersucar played a significant role in the formation of MBCB (Low-Carbon Mobility Cooperation Agreement for Brazil), which brings together various representatives from the mobility chain with the aim of promoting decarbonization of transport in Brazil, respecting technological neutrality and positioning Brazil as a leader in global mobility innovation.

“We increasingly promote scalable solutions for renewable energy and natural food that drive a viable energy transition and contribute to global food security. We continue with projects to further leverage the potential of Brazil’s sugarcane and sugarcane-energy sector, such as biogas, biomethane, and SAF, which present enormous opportunities for Copersucar, the sector, and our country,” concludes Manzano.

About Copersucar

Structured as a unique and integrated ecosystem of specialized businesses, covering production access, logistics, storage, and marketing, Copersucar S.A. offers scalable solutions in renewable energy and natural food that drive the energy transition and contribute to global food security. A global leader in sugar and ethanol trading, the company is a reference in the ethanol market, serving Brazilian demand through Evolua Etanol and the American market through Eco-Energy, where it also trades natural gas. In sugar, in addition to the domestic market, the company serves customers in over 70 countries through Alvean – specialized in sugar origination and trading, and operates an efficient export logistics system from Brazil.


Edelman Brasil

Eliane Dalpizol | + 55 11 96835-4392 | copersucar@edelman.com