Cosan Advances Porto São Luís Terminal Sale as Boa Safra Reports Strong Q2 Financials

Cosan is progressing with the sale of its Private Use Terminal (TUP) at Porto São Luís, entering exclusive negotiations with VLI Logística, which has offered R$ 300 million. This offer is less than half the R$ 720 million investment Cosan made in 2021, though it includes a potential earn-out of R$ 50 million tied to new terminal berths by 2035. Analysts note the deal's value is insufficient for significant debt reduction, yet it aligns with Cosan's broader strategy of asset divestment and liability restructuring.

Meanwhile, Boa Safra reported a strong second quarter in 2026, highlighting a record order portfolio valued at R$ 1.8 billion, including R$ 622 million in soybean seed stocks. While soybean orders declined by 12% year-over-year, diversification efforts boosted non-soybean seed business from R$ 52 million to R$ 337 million, now nearly 19% of the portfolio. Operational revenue grew 23% to R$ 124.6 million, and gross profit surged 83% to R$ 70 million, with an impressive 56% gross margin.

CEO Marino Colpo emphasized that August marks the key sales period for soybean seeds, with efforts to expand origination to 320,000 hectares to mitigate climate risks. Boa Safra's EBITDA jumped from R$ 4.5 million in Q2 2025 to R$ 27.6 million, reversing losses and reporting a net profit of R$ 2.6 million. Subsidiary Bestway nearly doubled revenues to R$ 20 million, and SBS Green Seeds secured R$ 60 million in new orders. The company concluded June with R$ 1.31 billion in cash and financial investments, underpinning confidence for the remainder of 2026.

Together, these developments point to strategic financial maneuvering in Brazil’s agribusiness and logistics sectors, with Cosan optimizing its portfolio through key asset sales and Boa Safra capitalizing on operational improvements and diversification for sustained growth.