Biosev has loss of r $ 185 million in 4th tri

The Biosev sugar company, controlled by French Louis Dreyfus Commodities (LDC), reported yesterday a net loss of R $ 185,44 million in Q4 of fiscal year 2013, terminating the activities relating to 2012/13 harvest of sugar cane. In the same period last year, the company had reported a profit of R $ 51.86 – million.
With this, the Biosev has accumulated an annual loss of R $ 619,56 million, 121.7% higher than reported in the previous season ($ 279,45 million). In the year, the company's net margin was 14.9% negative. The earnings before interest, taxes, depreciation and amortization (Ebitda) fell 67.3% in the 4th quarter, to $ 45.72 million. In the year, fell 13.8%, to R $ 919,17 million
In a statement, the sugar has given negative operating income losses, without effect, arising from changes in fair value of biological assets (plantations) in the amount of r $ 267,3 million, among other non-recurring items.
Excluding these effects, the company accounted for an Ebitda (adjusted) of R $ 253,24 million in the last quarter, 101.3% greater than the registered in the same period of the 2011/12 season. In the season, there was an increase of 13.3%, to $ 1.28 billion.
The company recorded a loss of r $ 74 million in the financial account in the fourth quarter, compared with a loss of R $ 4.27 million compared to the same period last year. In the year, the financial result was negative at R $ 641 million, against a loss of R $ 481,3 million in the previous season. The company attributed the loss to increased expenditure on derivative instruments ($ 103 million) and exchange rate ($ 119,98 million) during the year.
Biosev's net revenue grew 60.9% in the quarter, to $ 963,49 million. During the year, reached r $ 4.15 billion, up 22% compared to the previous season.