CTC records 23,6% growth in net profit in 3Q24

Centro de Tecnologia Canavieira S/A (CTC) showed a 23,6% increase in net profit in the third quarter of the 2023/2024 harvest (3Q24), reaching R$41,4 million. This growth occurs in a context of stability in net revenue for the quarter, which remained at R$ 105 million, and an increase of 2,3% in the last nine months. The current harvest stands out for its record productivity in the last 15 years and favorable prices in the sugar and alcohol sector, especially for sugar.

CTC also recorded a 12,6% increase in EBTIDA, totaling R$52,1 million, with a margin of 49,6%. The company closed the quarter with net cash of R$510,5 million, an increase of 19,4% compared to the same period of the previous year. These results reflect the operational efficiency and the marketing strategy for sugarcane varieties with higher added value.

The company has invested in research and development, with an increase of 3,2% in investments in this area, totaling R$56,9 million. The investments cover projects such as Seeds, the expansion of genetically modified varieties and the Genetic Improvement program.

Cesar Barros, CEO of CTC, highlighted the exceptional performance of the company's product portfolio, especially the varieties launched in the last three years. He also highlighted the company's commitment to supporting customers in planting decisions and executing long-term strategic planning, aiming for innovations in genetics, biotechnology and management to increase productivity in Brazilian sugarcane fields.