Sucro Announces Fourth Quarter and Year-End 2024 Results

4th quarter sugar deliveries increase 61% versus prior year, including volume growth of 30% in refining operations

CORAL GABLES, Fla., April 10, 2025 /CNW/ - Sucro Limited (TSXV:SUGR, OTCQB:SUGRF) ("Sucro" or the "Company"), an integrated sugar refiner focused primarily on serving North American sugar markets, today announced financial results for the three and twelve months ended December 31, 2024. All amounts are in United States dollars ("U.S. $" or "$") unless otherwise noted.

Financial Highlights

Full-year revenue of $654.4 million on sugar deliveries of 649,747 metric tons; Q4 of $160.4 million and 154,773 metric tons, respectively

Full-year net income of $24.2 million; Q4 net loss of $6.9 million 

Full-year adjusted gross profit1 of $6.5 million and adjusted gross profit margin1 percentage of 8.6%; Q4 of $12.4 million and 7.7%, respectively

Full-year EBITDA1 of $61.7 million and Adjusted EBITDA1 of $35.7 million; Q4 of $1.5 million and $8.5 million, respectively

Full-year Adjusted gross profit per metric ton delivered1,2 of $80.07; Q4 of $87.05

For our refineries, Full-year volumes of 206,994 metric tons; Q4 of 44,534 metric tons

For our refineries, Full-year Adjusted gross profit per metric ton delivered of $140.56; Q4 of $146.08

Q4 and Year-End 2024 Highlights

Three Months Ended Dec 31

Twelve Months Ended Dec 31

In 000s of U.S. $ except per share and volume metrics.

2024

2023

Change

2024

2023

Change

Sugar Deliveries (Metric Tons)

154,773

95,883

61.4 %

649,747

476,778

36.3 %

Revenue

$160,455

$114,560

40.1 %

$654,422

$496,834

31.7 %

Gross profit

5,847

(4,367)

233.9 %

85,202

70,768

20.4 %

Adjusted gross profit1

12,393

5,826

112.7 %

56,559

49,609

14.0 %

Adjusted gross profit margin1

7.7 %

8.7 %

8.6 %

10.0 %

EBITDA1

1,539

(5,469)

128.1 %

61,694

54,114

14.0 %

Adjusted EBITDA1

8,585

9,901

-13.3 %

35,681

34,655

3.0 %

Adjusted EBITDA Margin1

0.96 %

-4.77 %

5.45 %

6.98 %

Net Income (Loss)

(6,945)

(10,381)

33.1 %

24,191

19,974

21.1 %

   Per share (basic)

(0.92)

(1.65)

44.2 %

3.21

3.18

1.0 %

   Per share (diluted)

(0.29)

(0.45)

34.6 %

1.02

0.86

18.5 %

Adjusted gross profit per metric ton delivered1,2

80.07

60.76

31.8 %

87.05

95.38

-8.7 %

Free cash flow1

https://www.benzinga.com/pressreleases/25/04/n44731995/sucro-announces-fourth-quarter-and-year-end-2024-results