Cosan Reports Decline in Q3 Earnings but Reduces Debt

Cosan (CSAN) has released an update.

Cosan S.A. reported a significant decrease in net income for the third quarter of 2024, down by R$386 million compared to the previous year, largely due to reduced contributions from equity interests and a challenging comparison base. Despite this, the company successfully reduced its gross debt by R$1.9 billion year-on-year, indicating effective liability management. Additionally, Cosan’s EBITDA was positively impacted by its stake in Vale S.A., contributing R$534 million through equity pickup.

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