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    RAIZ4   BRRAIZACNPR6

RAÍZEN S.A.

(RAIZ4)
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Delayed Bolsa de Valores de Sao Paulo  -  04:07 2022-06-30 pm EDT
4.590 BRL   -4.38%
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05/25RAIZEN CEO : No room for fuel price cuts in Brazil
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Raizen CEO: No room for fuel price cuts in Brazil

05/25/2022 | 04:28pm EDT

SAO PAULO, May 25 (Reuters) - Brazil cannot afford to cut local fuel prices, which already lag the international market, the chief executive of energy company Raizen told investors on Wednesday.

"If gasoline prices were cut, Brazil would not have the capacity to meet all the demand, so it would have to import ... and imported gasoline is much more expensive than local prices," the CEO Ricardo Mussa said.

Reuters reported last week that state-run Petrobras had warned Brazil's government that its diesel pumps could run dry this year if it sold fuel below market price. Days later, the firm's chief executive was ousted.

At the Raizen investor event, Mussa also flagged the risk of diesel shortages due to the war in Ukraine, which caused international prices to spike and created supply uncertainties. However, he argued the risk could still be controlled.

The executive added the priority for Raizen, one of Brazil's largest fuel distributors, is to guarantee supply and avoid fuel shortages.

The firm, a joint venture between Cosan SA and Shell, is now expected to accelerate its plan to expand second-generation (2G) ethanol plants, aiming to have 20 2G units by 2031.

Raizen currently has one 2G plant in operation and three others under construction. (Reporting by Roberto Samora and Nayara Figueiredo; Writing by Gabriel Araujo and Peter Frontini; Editing by David Gregorio)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AC (AC) - CBR (FLOOR)/C1 0.83% 1.09 End-of-day quote.-20.73%
COSAN S.A. -1.99% 18.2 Delayed Quote.-14.38%
EURO / BRAZILIAN REAL (EUR/BRL) 1.39% 5.5056 Delayed Quote.-12.61%
PETROBRAS -0.53% 27.93 Delayed Quote.-1.30%
RAÍZEN S.A. -4.38% 4.59 Delayed Quote.-25.58%
SHELL PLC -2.08% 2139.5 Delayed Quote.34.88%
All news about RAÍZEN S.A.
06/14Brazil's Petrobras and Raizen to join forces on biomethane
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05/30Shell and indycar will introduce renewable race fuel for ntt indycar series in 2023
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05/25RAIZEN CEO : No room for fuel price cuts in Brazil
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05/13Raízen S.A. Reports Earnings Results for the Full Year Ended March 31, 2022
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04/06Brazil's BRF outgoing CFO to take role in sugar-maker Raizen
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04/06Brazil's GMO sugarcane area to nearly double this year, company says
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03/14Sugar-maker Raízen CEO says Petrobras fuel price hike needed
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More news
Financials
Sales 2023 230 B 44 055 M 44 055 M
Net income 2023 4 731 M 904 M 904 M
Net Debt 2023 18 561 M 3 548 M 3 548 M
P/E ratio 2023 9,96x
Yield 2023 5,87%
Capitalization 47 414 M 9 064 M 9 064 M
EV / Sales 2023 0,29x
EV / Sales 2024 0,28x
Nbr of Employees 30 359
Free-Float 8,85%
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Mean consensus BUY
Number of Analysts 11
Last Close Price 4,58 BRL
Average target price 8,68 BRL
Spread / Average Target 89,6%
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