Cosan Reports Healthy 2017


Despite a weak fourth quarter, MooveCosans lubricant production and distribution arm – had a strong 2017 marked by increased lubricant sales volume and healthy net revenue, the company said in its earnings report.

Net revenue for the fourth quarter jumped to 637 million Brazilian reais (U.S. $197.6 million), a 41 percent increase from 452 million reais during the fourth quarter of 2016. For the full year, net revenue increased marginally – from 1.9 billion reais in 2016 to 2.1 billion reais in 2017.

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The Sao Paulo, Brazil-based company reported lubricant sales volume of 73,000 metric tons, the same as in the fourth quarter of 2016. Lubricant sales volume for the full year, however, grew to 313,000 tons, a 6 percent increase from 2016.

After several quarters of recovery, the Brazilian lubricant market recorded a slight sales volume decrease in 2017s fourth quarter, the company said in its press release.

The company cited higher sales volume with a better mix of products across all of the companys markets as the reason for improved annual results. The year of 2017 was marked by signs of Brazilian economic recovery after two consecutive years of gross domestic product decline, despite political uncertainties, Cosan noted.

Cosan, a producer of sugar and ethanol products since 1936, expanded through acquisitions beginning in 2008 to become a distributor of fuels and lubricants.

Novvi, a joint venture between Cosan and U.S. research firm Amyris, develops renewable synthetic base oil from sugarcane.

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