Brazil's Raizen swings to loss in third quarter

Adds more details, context

SAO PAULO, Feb 14 (Reuters) - Brazilian sugarcane processor Raizen RAIZ4.SA on Friday posted a 2.57 billion real ($450.5 million) net loss in the third quarter of its 2024/25 season, compared with a profit of 793 million reais in the same period a year earlier.

WHY IT'S IMPORTANT

Raizen, whose main shareholders are Brazilian conglomerate Cosan CSAN3.SA and Shell SHEL.L, is the world's largest sugarcane processor.

The firm produces sugar and ethanol, while also operating as a fuel distributor.

ADDITIONAL CONTEXT

Raizen released its quarterly operational preview in January, showing sugarcane crushing fell nearly 27% year-on-year, and also discontinued its financial guidance for the 2024/25 crop-year, driving its shares to all-time lows.

BY THE NUMBERS

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) came in at 3.12 billion reais in the quarter, down 20.5% year-on-year and below the 3.42 billion reais estimated by analysts in a LSEG poll.

Net revenue rose some 14% in the period to 66.9 billion reais, while analysts expected a 62.3 billion real quarterly revenue.

KEY QUOTES

Raizen said its net profit "reflects a lower contribution of its operational results, and the increase of financial expenses, including non-recurring effects."

($1 = 5.7042 reais)