Ukrainian Drone Makers Target Japan and Asia Defense Market 
Apple Signals Product Price Hikes Amid Rising Memory Chip Costs 
SpaceX Stock Slides After IPO Rally as Valuation Concerns Grow 
Qantas Unveils Wellness-Focused Nonstop Sydney-London Flights to Reduce Jet Lag 
China Adds MP Materials, USA Rare Earth to Export Control List Amid Escalating U.S.-China Trade Tensions 
SK Hynix Overtakes Samsung as South Korea’s Most Valuable Company 
Samsung Gains Interest from BYD, Google, AMD as AI Chip Demand Strains TSMC Capacity 
HSBC Australia Faces A$35M Penalty Over Scam Protection Failures 
Frank Stronach Found Guilty of Sexual Assault and Indecent Assault in Ontario Court 
Meta Seeks Legal Shield From Child-Harm Lawsuits Amid KOSA Talks 
Trump Says Anthropic No Longer Seen as National Security Threat 
John Jumper Leaves Google DeepMind for Anthropic Amid Intensifying AI Talent Race 
JPMorgan Sees Strong Strategic Value in Potential AbbVie Acquisition of Apogee Therapeutics 
Saudi Aramco Explores Sulphur Business Stake Sale to Raise Billions 
Kingboard Holdings Shares Surge After HK$11.77 Billion Block Trade to Expand PCB and AI Supply Chain Business 
Chinese Social Media Giant Xiaohongshu Eyes Hong Kong IPO at Over $70 Billion Valuation 
US-Iran De-Escalation Shifts Washington’s Focus to AI Regulation and Crypto Legislation 
Raizen, the world's largest sugarcane processor, posted a net loss of 2.57 billion reais ($450.5 million) in Q3 of its 2024/25 season, reversing a 793 million real profit from a year earlier. The loss reflects weaker operational results and rising financial expenses.
The company, co-owned by Cosan (NYSE:CZZ) and Shell (LON:SHEL), saw a significant drop in sugarcane crushing, down nearly 27% year-on-year, contributing to its losses. Raizen, a major producer of sugar and ethanol, also distributes fuel.
Despite a 14% increase in net revenue to 66.9 billion reais, surpassing the 62.3 billion real forecast from LSEG analysts, adjusted EBITDA fell 20.5% to 3.12 billion reais, missing the projected 3.42 billion reais.
Raizen’s operational preview released in January revealed the sharp decline in sugarcane crushing and the withdrawal of financial guidance for 2024/25, which pushed its shares to record lows.
The company cited higher financial costs, including non-recurring items, as factors driving the quarterly loss. The results highlight challenges in the global sugar and ethanol markets, impacting Raizen’s profitability.
