With a Profit of R $ 25.4 million, BALMTA Ethanol maintains Steady Growth
Even with Harvest losses in the 2019/20 , the company records its 10-th year with improved numbers
After reaching a Profit of R $ 7.38 million in the 2017/18 crop, BALMTA Ethanol, which controls a plant in the State of São Paulo, has been improving its numbers with annual increases in gross profit. The company Has Increased Its Exports to Europe by 70% YTD.
In 2019/20, for example, sugarcane Profits totaled R $ 25.4 million, 37.97% Bigger than the R $ 18.6 million Profit seen a year earlier. Even so, this is the ninth consecutive Quarter of Growth for BALMA Ethanol, which has been profitable since the R $ 5.41 million recorded in 2010/11.
One of the main aspects that weigh on the company's results is the increase in spending on interest payments. Between the last two seasons, BALMTA Ethanol's financial expenses rose 43.7%, going from R $ 37.8 million to R $ 54.31 million.
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