From GlobeNewswire: 2025-02-06 07:01:00

Rogers Sugar Inc. reported strong first quarter fiscal 2025 results, with consolidated adjusted EBITDA increasing by 29% to $39.6 million. Revenues for the quarter amounted to $323.2 million, a 12% increase from last year, driven by higher pricing and sales volumes in both the Sugar and Maple segments. The Sugar segment saw adjusted EBITDA increase by $7.9 million, while the Maple segment’s adjusted EBITDA was $5.7 million higher than last year.

In the Sugar segment, revenues increased by $27.0 million compared to the previous year, mainly due to higher sales volume. Industrial volume increased by 3,500 metric tonnes, while consumer volume decreased by 2,500 metric tonnes. Adjusted gross margin was $44.1 million, with a per-unit margin of $225 per metric tonne. EBITDA for the segment was $32.6 million, a $6.3 million increase from last year.

In the Maple segment, revenues were $7.5 million higher than last year, driven by increased sales volume. Gross margin was $3.9 million, with an adjusted gross margin percentage of 11.5%. EBITDA for the segment was $2.0 million, lower than the $6.7 million recorded in the same period last year.

The LEAP Project, expected to provide additional refined sugar capacity, is progressing as planned. The total cost is estimated to be between $280 million and $300 million, with completion expected by the end of 2026. Construction has begun, with site preparation and permitting completed in Montreal and detailed planning finished in Toronto.

Looking ahead, Rogers Sugar anticipates strong financial results for 2025, subject to potential US tariffs. The Sugar segment is expected to perform well, with sales volume outlook for the year at approximately 800,000 metric tonnes. The Maple segment also forecasts a strong year, with sales volume expected to grow by 5%.

Investors are encouraged to review the full financial report for a comprehensive understanding of the company’s performance and outlook. Rogers Sugar continues to focus on delivering consistent, profitable growth in both its Sugar and Maple segments, with strategies in place to mitigate potential adverse impacts of external factors like tariffs.



Read more at GlobeNewswire:: Rogers Sugar Delivers Strong First Quarter Results, Driven