AgriBrasil 1Q24: lower net loss and strong increase in EBITDA

AgriBrasil 1Q24: lower net loss and strong increase in EBITDA

The trading company AgriBrasil ended the first quarter of the year  with a net loss of R$ 3.1 million, compared to a loss of R$ 6.2 million recorded in the same period of 2023. In the same comparison, the adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of the Brazilian company grew by 167.3% to R$ 13 million.

According to Frederico Humberg, founder and CEO of the company, the negative net result was determined by non-cash factors such as deferred taxes and goodwill from the acquisition of a 51% stake in the Santa Catarina Port Terminal (TESC), located in the port of São Francisco do Sul. Without these factors, the executive said in a call with analysts that AgriBrasil would have made a profit of between R$ 3 million and R$ 4 million.

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