(SeeNews) - Nov 20, 2013 - Brazil's sugar and ethanol plant Glencane Bioenergia, formerly known as Rio Vermelho, yesterday announced a net loss of BRL 22.8 million (USD 10m/EUR 7.4m) for 2012, versus a loss of BRL 14.8 million a year ago.<br /> The company attributed the result to the 228% jump to BRL 18.7 million in operating costs. Moreover, the exchange rates effects resulted in BRL 21.6 million losses for Glencane Bioenergia.<br /> Net revenue grew by 76.7% in annual terms to BRL 102.6 million.<br /> On December 31, 2012, the plant had short-term liabilities to banks of BRL 44.5 million, up 161% year-on-year. Long-term debts came in at BRL 53.7 million, a 7.8% annual rise.<br /> Glencane Bioenergia is located in Junqueiropolis municipality, southeastern Sao Paulo state, and it is owned by Swiss commodities trader Glencore International AG.<br /> (BRL 1.0 = USD 0.439/EUR 0.325)
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