ab 17 August 2026 First Read Jalles Machado 1Q27 conference call highlights Neutral call. The company reiterated crushing guidance for 2026/27 but noted upside bias, and expects a 5% drop in unitary costs. (=) JALL is still holding ethanol inventories and sees attractive carry to sell at the off-season looking at the current curve, but if prices continue to improve towards ~R$2.8-2.85/liter the company will evaluate accelerating sales (=) The company continues to maximize ethanol mix in GO units, but in the ...

Forecast change: 2% revenue and 3% EPS 2026-31E ab 17 August 2026 Global Research Savola Group Company Food processing delivers, Panda caps the re- rating We reiterate Buy on Savola after incorporating 2Q26 results Savola's 2Q26 results reinforce our positive view, with accelerating growth supported by volumes and prices and meaningful margin recovery in food processing increasingly establishing the segment as the group's principal earnings engine. Recurring group earnings grew 67% y/y in 2Q despite continu ...