Cosan S.A. (NYSE:CSAN) Q3 2022 Earnings Conference Call November 14, 2022 4:00 PM ET
Company Participants
Luis Henrique Guimarães - Chief Executive Officer
Ricardo Lewin - Chief Financial and Investor Relations Officer
Conference Call Participants
Thiago Duarte - BTG Pactual
Bruno Montanari - Morgan Stanley
Regis Cardoso - Credit Suisse
Luiz Carvalho - UBS
Operator
Good afternoon, ladies and gentlemen, and thank you for waiting. Welcome to Cosan's Conference Call to discuss the results for the Third Quarter 2022. Simultaneous translation will be available during the Q&A session. To use the translation tool, please click on the interpretation icon at the bottom of the screen and select your language of choice, Portuguese or English. Participants listening in English can mute the original audio in Portuguese by clicking on mute original audio.
This conference is being recorded and will be made available on the company's IR website at cosan.com.br where you can also find all the material regarding our earnings release. [Operator Instructions]
Please note that the information contained in this presentation are forward-looking statements regarding the company's business prospects and operating and financial projections and goals are based on Cosan's management team's beliefs and assumptions as well as on information currently available to the company. Forward-looking statements are not a guarantee of performance. They involve risks, uncertainties and assumptions as they relate to future events and therefore, depend on circumstances that may or may not occur. Investors should understand that general economic conditions, industry conditions and other operating factors may affect the company's future results and lead to results that may differ materially from those expressed in such forward-looking statements. Today, we have here with us Mr. Luis Henrique Guimarães, CEO; and Mr. Ricardo Lewin, CFO and IRO. I would now like to turn the conference over to...
Ricardo Lewin
Good afternoon everyone and thank you for participating in Cosan's Earnings Conference Call for the third quarter of 2022. With me today I have Luis Henrique, our CEO. Before going to the numbers, I want to highlight that despite the highly volatile economic scenario, we ended the third quarter with strong results and took important steps on our group’s growth journey. Let's now go through the main financial and operational highlights of each business.
On Slide 3 you can see Raízen's results. In Renewables, revenue growth and higher bioenergy sales volume were not enough to neutralize the decline in own sales volume and the inflationary pressures on costs and expenses that adversely affected the period’s result. In Sugar, Adjusted EBITDA more than doubled, reflecting the higher share of direct sales and greater prices.