Sao Martinho swings to USD 2.4m loss in Q4 FY 2011
Jun 26, 2012 - Brazil's sugar and ethanol maker Sao Martinho (SAO:SMTO3) posted a net loss of BRL 4.9 million (USD 2.4m/EUR 1.9m) for the last quarter of crop year 2011/12, which ended on March 31, the company said yesterday.
Thus, the net profit of the company for the full year dropped 11% compared to 2010/11, to BRL 126.6 million.
Sao Martinho saw its fourth quarter revenue dropping 7.5% to BRL 259.5 million. The 2011/12 revenue, however, increased 5.6% to BRL 1.36 billion. This was the sole indicator which registered a rise on the comparison between 2011/12 and 2010/11.
The company's earnings before interest, tax, depreciation and amortisation (EBITDA) fell 13.5% to BRL 530 million in the year and 49.9% to BRL 65.4 million in the quarter.
The EBITDA margin inched down to 25.2% from 46.6% in the three months to March 2012. The 2011/12 EBITDA was 38.8%, declining 8.5 percentage points from a year earlier.
(BRL 1 = USD 0.482/EUR 0.386)