Raízen reports R$27 billion loss as it moves toward extrajudicial recovery approval

Raízen, Brazil’s largest sugar‑ethanol and fuel‑distribution joint venture, posted a net loss of R$27.1 billion for its 2025/26 fiscal year, ending 31 March. The loss was driven largely by R$22.5 billion in asset‑impairment provisions, reflecting uncertainty over the continuity of certain operations.

The company’s gross debt rose to R$71.8 billion, with net debt up 69.9% to R$58.2 billion. Despite the setback, the fuel‑distribution segment saw adjusted EBITDA increase 35.5% to R$5.7 billion, while the sugar‑ethanol and bioenergy segment’s EBITDA fell 23.9% to R$4.5 billion.

President Nelson Gomes said the firm is confident it will navigate the current cycle and expects the court‑approved extrajudicial recovery plan to be confirmed by September. The plan includes a R$3.5 billion capital injection from Shell, a possible additional R$500 million from Aguassanta, and has secured support from 80% of creditors. Raízen intends to pursue asset disposals cautiously, focusing on optimizing its core businesses.