BIOSEV LOWERS GUIDANCE FOR 2013 CANE CRUSH

摘要

Sugar and ethanol producer Biosev said its Jul/Sep 2013 results were impacted by adverse weather conditions. The company cut its cane crushing projection for Apr/Mar 2013/14 to 28.7-30.1 mln tonnes from 33.0 mln, against a capacity of around 38 mln. Cane crush in 2012/13 was 29.5 mln tonnes. Biosev reported a y/y decline in cane crush for the current quarter, mainly at the expanse of sugar production. The total crush from the current campaign was with 21.7 mln tonnes up 9% y/y, but mainly due to the Apr/Jun quarter. Biosev's plantations in Mato Grosso do Sul and the Northeast were strongly hit by frosts and dry weather conditions, respectively. This led to a decrease in crushing in the second quarter and a drop in sugar yields. Cane crush was also down y/y due to the sale of the biological assets including the plantations of the Sao Carlos mill to SSo Martinho in late 2012, which accounted for 60% of the drop.