{"id":94338,"date":"2025-05-28T22:55:28","date_gmt":"2025-05-29T01:55:28","guid":{"rendered":"https:\/\/murray.adv.br\/?p=94338"},"modified":"2025-05-28T22:55:28","modified_gmt":"2025-05-29T01:55:28","slug":"stronger-ethanol-market-drives-evolua-back-to-profitability","status":"publish","type":"post","link":"https:\/\/murray.adv.br\/en\/stronger-ethanol-market-drives-evolua-back-to-profitability\/","title":{"rendered":"Stronger ethanol market drives Evolua back to profitability"},"content":{"rendered":"
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Joint venture of Copersucar and Vibra boosts earnings on better price curve, 18% rise in demand, and plans to expand supply base<\/strong><\/em><\/h6>\n<\/div>\n<\/div>\n
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05\/28\/2025<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n

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Driven by strong demand for hydrous ethanol\u2014the type that competes directly with gasoline\u2014and a more predictable price curve throughout the 2024\/25 harvest, Evolua Etanol closed the season in the black. The company, Brazil\u2019s largest ethanol trading firm, had posted a loss in the previous cycle (2023\/24) but ended the most recent season with profits surpassing expectations.<\/p>\n<\/div>\n

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The joint venture between Copersucar and Vibra posted a net profit of R$187.8 million in 2024\/25, reversing a R$91.8 million loss in the previous cycle. The company reported a return on invested capital (ROIC) of 42%\u2014\u201cone of the highest in the sector,\u201d CEO Pedro Paranhos told Valor.<\/p>\n<\/div>\n

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Unlike the 2023\/24 season, when improving sugarcane crop conditions led to a continuous decline in ethanol prices, the 2024\/25 harvest featured a more stable supply outlook. This resulted in a more typical price pattern, with lower prices during harvest and higher prices in the off-season, which favored Evolua\u2019s strategy of carrying product into non-production months.<\/p>\n<\/div>\n

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Moreover, strong supply made hydrous ethanol more competitive than gasoline for most of the season, boosting biofuel consumption. Demand rose 18% compared to the previous cycle.<\/p>\n<\/div>\n

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The company\u2019s gross revenue grew 15% to R$12 billion, while ethanol volume traded remained stable at 9.6 billion liters, representing a 25% share of Brazil\u2019s ethanol market.<\/p>\n<\/div>\n

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About half of that volume still comes from Copersucar-affiliated mills, but Evolua is working to expand its reach. In the past season, it began forming partnerships with independent ethanol producers. In February, it signed its first such agreement \u2014 with Agro Serra mill in S\u00e3o Raimundo das Mangabeiras (Maranh\u00e3o state), which supplies 80% of the state\u2019s anhydrous ethanol.<\/p>\n<\/div>\n

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\u201cOur main strategic pillar is to grow by building new partnerships with producers,\u201d said Mr. Paranhos. He noted that Evolua is \u201cin talks with several producers to expand its supply base.\u201d<\/p>\n<\/div>\n

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The trader aims to prioritize partnerships with mills in regions where it currently has limited presence\u2014such as the Central-West, North, and Northeast\u2014and with corn ethanol plants, which are not part of Copersucar\u2019s current network.<\/p>\n<\/div>\n

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While it works to expand its supply base, Evolua expects to keep pace with market growth in the current 2025\/26 season. Mr. Paranhos projects a 2% increase in Otto-cycle fuel sales\u2014slightly below the 2.6% growth recorded last season\u2014which should drive ethanol sales, whether hydrous or anhydrous (used as a gasoline additive).<\/p>\n<\/div>\n

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In the biofuels sector, expectations are high that the federal government will officially raise the mandatory ethanol blend in gasoline from 27% to 30% in July. Initial projections had anticipated the move between April and May, when distributors sign ethanol contracts. Despite the delay, Mr. Paranhos said the market has already priced in the change.<\/p>\n<\/div>\n

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He added that a drop in hydrous ethanol production will make room for the increased output of anhydrous ethanol needed to meet the new mandate. However, sugar production is unlikely to be reduced to favor ethanol, since sugar remains more profitable than the biofuel.<\/p>\n<\/div>\n

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Mr. Paranhos estimated that total ethanol demand (hydrous and anhydrous) will reach around 35 billion liters this season, roughly in line with last year. He also expects Evolua to maintain its 17% share of Brazil\u2019s ethanol exports.<\/p>\n

*By Camila Souza Ramos\u00a0\u2014 S\u00e3o Paulo<\/p>\n

Source: Valor International<\/p>\n

https:\/\/valorinternational.globo.com\/<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Joint venture of Copersucar and Vibra boosts earnings on better price curve, 18% rise in demand, and plans to expand supply base       05\/28\/2025 Driven by strong demand for hydrous ethanol\u2014the type that competes directly with gasoline\u2014and a more predictable price curve throughout the 2024\/25 harvest, Evolua Etanol closed the season in the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8106],"tags":[26131],"class_list":["post-94338","post","type-post","status-publish","format-standard","hentry","category-murray-news","tag-stronger-ethanol-market"],"yoast_head":"\nStronger ethanol market drives Evolua back to profitability - Murray Advogados<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/murray.adv.br\/en\/stronger-ethanol-market-drives-evolua-back-to-profitability\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stronger ethanol market drives Evolua back to profitability - 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