Adecoa Agro has announced its financial results for the third quarter of 2025, and although the overall performance was strong, the company has decided to reduce its acreage in the 2025/26 campaign as the agricultural business posted a loss. To explain in detail, The company plans to plant 238,389 hectares, 21.8% less than last year. This was primarily due to a 22.7% decrease in leased area. In the report, the company indicated that its goals for this cycle are: “Maximize the margin per hectare for each crop given a low price scenario.” The CEO of Adecoa Agro is Mariano Bosch.
At the same time, the company offset some of this decline with very strong performance. sugar, ethanol, energyThe “historic crushing record” of 4.9 million tonnes of sugarcane resulted in EBITDA of $120,467 million, an increase of 20.3% year-on-year. This segment has enabled us to maintain consolidated performance despite the slump in the agricultural business.
In agricultural activities, the impact of this adverse situation was clearly reflected in the figures for the crop sector, which once again showed losses. This quarter, EBITDA, The operating profit of the business excluding taxes and special effects is –$6.798 billioncompared to the positive results a year ago. The deficit accumulated in the first nine months of this year was –$18,139 millionThis is far from the US$22.288 billion for the same period in 2024.
The company attributes this decline to: Declining prices and rising costs of rice and dairy products. Groundnut is one of the most important crops in the agricultural portfolio. Adeco Agro said the price had “fallen sharply” due to “oversupply” in the market.
A source close to the company revealed that nation That situation isit happens to everyone“, referring to a scenario characterized by very low international prices, high costs and profits,”This year has been complicated“They made it clear that while they recognized that they had been forced to rethink their strategy, particularly with respect to rent, they interpreted this as a temporary phenomenon.”With these numbers, fewer hectares will be rented“They recalled that the company occupies a significant proportion of their land and therefore can adjust the surface area without compromising the production structure. In any case, they emphasized Adecoa Agro.”keep thinking ahead” and maintains a development plan.
This change in focus is also evident in rotation. For the 2025/26 campaign, Adecoagro will significantly reduce the area allocated to soybean, secondary soybean, groundnut, wheat and other varieties, while increasing the area of maize by 23.1%.
As mentioned above, apart from the slump in the agricultural sector, Adecoa Agro generally did not end up with negative earnings. Our sugar, ethanol and energy businesses contributed to a very solid performance and we were able to maintain our consolidated results. Adjusted EBITDA even grew 3.7% compared to previous year In a quarter.
Strictly speaking, this segment Adjusted EBITDA of $120,467 million,increase 20.3% Compared to the previous year, the company’shistorical grinding record” of 4.9 million tons of sugarcane, 20.4% This is an increase over the same quarter in 2024.
The report also noted that the company has deepened its ethanol-first strategy and reached its goals. 58% mix Within the period—”Because the margin was better than sugar”.
The company also presented a bleak financial outlook. The company’s net debt has reached $871.59 billion,increase 34.9% Compared to last year. The document specifies that this increase is related to upfront payments, among other factors. $96 million This represents the acquisition of 50% of Profertil, which is owned by Nutrien, and reduces the debt ratio. EBITDA 2.8x.
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